Skip to content

Tax Extenders

All Related Articles

Do tax increases reduce inflation. See higher taxes inflation policies and cause for inflation amid looming recession

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.

Ron Wyden energy tax proposal in Biden infrastructure bill. Katie Porter oil executive tax deduction

Wyden’s Energy Tax Proposal a Mixed Bag

As the Biden administration turns toward infrastructure, Sen. Ron Wyden (D-Or.) has suggested including reforms to the way the tax code subsidizes energy production in such a package, eliminating 44 “tax breaks” for various activities in the energy sector and replacing them with only three.

2021 state tax changes. net operating loss policies in the OECD NOL omnibus covid-19 relief deal. phase 4 coronavirus relief, phase 4 business relief, phase 4 relief net operating loss, cost recovery

Tax Extenders Hitch a Ride on Omnibus and COVID-19 Relief Deal

Tax extenders are no stranger to hitching a last-minute ride on year-end legislation. This year they made another last-minute appearance, finding a hold in their own division of the 5,593-page bill to fund the government through the fiscal year and provide additional coronavirus relief through March.

Permanent Build Back Better middle class tax hike Tax Cuts and Jobs Act, Tax Reform

Outlining a Path for Tax Policy Compromises

While a sweeping tax policy bill is unlikely in the near future, lawmakers may be able to come together on a smaller scale. Pairing better cost recovery on a permanent basis with support for vulnerable households as well as additional pandemic-related relief would help promote a more rapid return to growth and help businesses and households weather the ongoing crisis.

Federal tax policy after the 2020 election, upcoming federal tax increases, another round of economic relief

Prospects for Federal Tax Policy After the 2020 Election

President Biden and Congress should concentrate on areas of common ground, finding incremental places to improve the tax code. A bipartisan bill recently introduced to help retirement savings is a good model for what incremental reform may look like.