Legislation Introduced to Cancel R&D Amortization
Canceling the amortization of research and development costs would reduce federal revenue, but policymakers have a variety of options to offset the costs.
3 min read
Booker’s Plan to Eliminate Step-up in Basis and Expand the Estate Tax
Removing step-up in basis would encourage taxpayers to realize capital gains and it would plug a hole in the current income tax, while increasing federal revenue. Combined, however, with the estate tax, this would result in a significant tax burden on certain saving by requiring both the appreciation in and total value of transferred property to be taxed at death
2 min read
Senator Sanders Proposes a Tax on “Extreme” Wealth
Bernie Sanders recently became the second major Democratic presidential candidate to propose a wealth tax.
2 min read
JCT Report Shows Capital Gains are Sensitive to Taxation
JCT’s report on capital gains elasticities reminds us that capital gains realizations, at least under a tax system that allows deferral, are sensitive to tax rates. Moving to mark-to-market taxation of all capital gains would remove this sensitivity by taxing capital gains annually.
4 min read
Senator Bennet’s Plan to Expand the EITC
3 min read
OECD Tackling Harmful Tax Practices
Countries around the world often design their tax policies to become attractive targets for foreign investment. These policies can be anything from a system with special preferences for certain industries to a well-designed tax system based on principles of sound tax policy. Systems that are rife with special preferences and complexities can create distortions in local jurisdictions and across the global economy.
3 min read
No Good Options as Chicago Seeks Revenue
Facing an $838 million budget shortfall, a looming pension crisis, and an aggressive spending wish list, some Chicago policymakers and activists are expressing interest in a laundry list of new and higher taxes that could, collectively, raise as much as an additional $4.5 billion a year.
6 min read