Examining the Tax Code: Individual Income Taxes Presented by: Erica York Garrett Watson Erica York, Garrett Watson In the second session, we will cover the key parts of the individual tax code that contain elements of income taxes and consumption taxes, and apply to a growing share of businesses, colloquially known as “pass throughs.” Our experts will also discuss work and child-related tax benefits, which have led to a growing share of households that receive net benefits through the individual income tax, and several individual income tax elements that are scheduled to expire in the coming years. Finally, you will learn about progressivity in our current income tax system and some of the proposals the Biden administration has put forward to change the way income is taxed. Areas of Focus Overview of Federal Revenues Defining Key Terms What Is Income? Federal Individual Income Tax Child related tax benefits/spending in the tax code Session Resources Summary of the Latest Federal Income Tax Data, 2021 Primer: The Child Tax Credit Primer: The Earned Income Tax Credit Details and Analysis of President Joe Biden’s Tax Plan Register Today
