Taken together, these proposed tax changes would significantly raise marginal and effective tax rates and increase the cost of capital, all of which would lead to a reduced level of output and less revenue than anticipated.
5 min read
Removing step-up in basis would encourage taxpayers to realize capital gains and it would plug a hole in the current income tax, while increasing federal revenue. Combined, however, with the estate tax, this would result in a significant tax burden on certain saving by requiring both the appreciation in and total value of transferred property to be taxed at death
2 min read
Van Hollen’s proposals add to the long list of Democratic Party tax proposals that attempt to both raise additional revenue from corporations and high-income households and make the tax code more progressive and “equitable.”
3 min read
The federal income tax and federal payroll tax make up a growing share of federal revenue. Individual income taxes have become a central pillar of the federal revenue system, now comprising nearly half of all revenue.
2 min read
While progressivity may look appealing—particularly at a time when policymakers in Congress seem to be competing on how best to extract revenue from the wealthiest in the country—it may not raise the revenue intended.
2 min read
The estate tax’s narrow base and high rate limit its ability to generate revenue. The estate tax discourages economic growth by discouraging investment.
3 min read
Connecticut has failed to live up to the expectations of 1991. Changes intended to make tax collections more stable, combined with constraints intended to promote fiscal prudence, have strayed far wide of the mark. To turn things around, Connecticut needs a more competitive tax code.
32 min read
In 2018, trends to watch in state tax policy will include reductions in corporate tax rates, the spread of gross receipts taxes, new and lower taxes on marijuana, estate tax repeal, a wait-and-see approach on federal tax reform, and more.
16 min read
The House and Senate have both passed legislation that would overhaul the federal tax code. Learn about the key differences between the two bills.
7 min read