Biden’s New Tax Proposals Are Complicated and Rife with Double Taxation
Tax reform should be about increasing fairness. And the way to get there is by reducing complexity and double taxation, not by doubling down on them.
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Analyzing the Kansas Senate’s Proposed Tax Changes
As Kansas legislators consider additional tax policy changes this legislative session, they should prioritize economic growth and a structurally sound tax code.
Biden’s FY 2024 Budget Would Result in More Than $4.5 Trillion in Gross Tax Increases
President Biden’s new budget proposal outlines several major tax increases targeted at businesses and high-income individuals that would bring U.S. income tax rates far out of step with international norms.
JCT Tax Expenditure Report: Not All Expenditures Are Created Equal
When peeling back layers of the JCT report, it becomes clear that many tax expenditures are not “loopholes” or benefits for narrow special interests, but important structural elements of the tax code.
Improved Tax Treatment of Saving Included in Year-End Federal Spending Deal
The year-end omnibus federal spending package makes a number of reforms to retirement savings accounts.
Prospects for Federal Tax and Budget Policy after the 2022 Midterms
Two weeks after the 2022 midterm elections, it’s becoming clearer where tax policy may be headed for the rest of the year and into 2023. In the short term, Congress must deal with tax extenders and expiring business tax provisions that may undermine the economy.
Tax Treatment of Social Security Benefits Remains a Confusing Matter for Taxpayers
The Social Security Administration (SSA) announced the cost-of-living adjustment for Social Security payments based on inflation over the previous year. This has brought renewed attention to how the tax code treats Social Security benefits, which can be a confusing subject for taxpayers.
Stock Buyback Tax Would Hurt Investment and Innovation
The Inflation Reduction Act calls for a new 1 percent excise tax on stock buybacks, the argument being it would be better for the economy if firms invested their surplus cash in the business, rather than returning this value to shareholders.
Efforts to Improve Tax Treatment of Saving Gain Traction on Hill
The proposals share a common goal of improving incentives for households to save during a time when inflation is impacting their finances.
Red Flags Emerge in Build Back Better Book Minimum Tax, Interest Expense Limitation
The Build Back Better Act would raise taxes to pay for social spending programs. But the design of some of the tax increases may end up hurting private pensions, among other problems.