The Joint Committee on Taxation (JCT) dynamic scoring estimate of the Senate’s Tax Cuts and Jobs Act confirms that tax changes impact economic growth. While JCT’s estimates are positive, there is reason to believe that the tax plan would produce even greater dynamic effects than its analysis shows.
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Here’s how the individual income tax provisions of the amended Senate’s Tax Cuts and Jobs Act would impact individuals and families across the income spectrum.
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The National Conference of State Legislatures may revisit a decision to reject tax reform that repeals the state and local tax deduction.
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New Jersey has the worst state business tax climate of the 50 states and the third highest state and local tax burden. If federal tax reform prompts New Jersey to overhaul its tax code, it’s long overdue.
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A more careful look shows that the Senate Tax Cuts and Jobs Act doesn’t put pass-through businesses at a disadvantage compared to C corporations.
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Much attention is being paid to distributional tables released by JCT on the Senate’s Tax Cuts and Jobs Act, but their results don’t quite seem to show what some are suggesting. While the results appears to show a tax increase for some lower-income filers, this is due to the unique nature of the individual mandate and the premium tax credits available under the Affordable Care Act.
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The House of Representatives passed the Tax Cuts and Jobs Act by a vote of 227-205. Here is a summary of the major provisions in the final package.
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The Senate Tax Cuts and Jobs Act is right to make the most pro-growth policies permanent and sunset the ones that will do less economic harm.
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The Chairman’s Mark of the Senate’s Tax Cuts and Jobs Act includes a number of important changes. Here’s a quick overview of those that matter most.
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Here’s how the individual income tax provisions of the Senate’s Tax Cuts and Jobs Act would impact individuals and families across the income spectrum.
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This comprehensive overview of the of the Senate Tax Cuts and Jobs Act includes a summary of its details and macroeconomic analysis of how it would impact federal revenue, wages, GDP, and after-tax incomes.
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The Senate Tax Cuts and Jobs Act includes hundreds of structural reforms to the tax code. Here is a guide to the eight most important changes.
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This list, though not exhaustive, catalogues the major differences between the House and Senate version of the Tax Cuts and Jobs Act.
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The Senate Tax Cuts and Jobs Act shares many things with its House counterpart, but also differs on several particulars. This guide consolidates all of the details of the Senate plan in one convenient location.
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Even with large changes, many in the pass-through community are arguing that small pass-throughs don’t benefit since most or all of their taxable income falls below the 25 percent maximum rate. While correct on the small point, advocates miss the greater tax reform picture. Small pass-through businesses would still benefit from a number of other changes.
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A typical American household with four wireless phones paying $100 per month for wireless voice service can expect to pay about $221 per year in wireless taxes, fees, and surcharges.
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According to the Taxes and Growth model, the House Tax Cuts and Jobs Act should increase after-tax income by 4.5 percent for those in the second-lowest quintile, and by 4.6 percent for those in the middle quintile.
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