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Who Benefits from Itemized Deductions?
While some tax preferences like the earned income tax credit (EITC) and child tax credit benefit lower- and middle-income households, others, like itemized deductions, benefit high-income households.
4 min readNew Mexico Tax Increase Package Advances
7 min readTaxing Transactions a Few Too Many Times
2 min readArkansas Chips Away at Tax Reform
3 min readAnalysis of the Cost-of-Living Refund Act of 2019
We estimate that a new proposal to expand the EITC would reduce federal revenue by $1.8 trillion and decrease long-run GDP by 0.29 percent, while boosting labor force participation for low-income tax filers by 822,788 full-time equivalent jobs.
10 min read