Interview: Ken Kies, former Joint Committee on Taxation (JCT) Chief of Staff
Tax Foundation President Scott Hodge interviews Ken Kies, former Chief of Staff for the Joint Committee on Taxation (JCT) from 1995 to 1998.
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Congressional Budget Reconciliation
Rohit Kumar, principal and leader of PwC’s Washington National Tax Services Tax Policy Services group in Washington, D.C., joins Tax Foundation President Scott Hodge to discuss the congressional budget reconciliation process: what it is, how it works, and the role that politics will play in it for the 117th Congress as well as President Biden’s policy agenda.
The Future of Tax Policy with Douglas Holtz-Eakin
What do election results mean for the future of the federal tax code? What role will tax policy play in curbing the economic effects of the COVID-19 pandemic? How should policymakers address the federal deficit and could a carbon tax be part of that solution? How much of President-elect Joe Biden’s pre-election tax plan will actually come to pass?
Placing Joe Biden’s Tax Increases in Historical Context
If we consider Biden’s tax plan over the entire budget window (2021 to 2030) as a percentage of GDP—1.30 percent—it would rank as the 6th largest tax increase since the 1940s and and one of the largest tax increases not associated with wartime funding.
6 min read
Who Will Pay for the Roads? The Future of Transportation Taxes
What can the U.S. do to raise the revenue needed for infrastructure upkeep and accurately internalize the costs associated with road usage?
CBO Releases New Long-term Budget Outlook
The pandemic precipitated the steepest decline in economic output and employment in recent history, which is leading to a drop in tax revenue. At the same time, the federal response to the crisis is producing a large increase in spending. This combination will cause the federal budget deficit to spike.
5 min read
Time to Shoulder Aside “Crowding Out” As an Excuse Not to Do Tax Reform
This paper evaluates the arguments for and against “crowding out” and compares these arguments to empirical studies. It discusses the impact of tax changes on the allocation of national income between consumption and saving, and the allocation of saving between private investment and government deficits. It finds that the crowding out argument is largely based on a mistaken assumption about the flexibility and availability of saving and credit for the financing of government deficits and private investment.
31 min read
How a Longer Budget Window Helps and Doesn’t
Some federal lawmakers want a longer budget window to keep temporary tax cuts in place longer. However, temporary tax cuts would still have drawbacks and won’t provide the benefits of permanent tax reform.
5 min read
Budget Deal Includes IRS Changes
4 min read