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Individual Tax Expenditures, Credits, and Deductions

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Phase 4 Is not the Time to Experiment with Temporary Credits

As lawmakers consider returning to the tax code as a tool to revive a struggling economy with high unemployment and an unpredictable virus, they should avoid temporary changes that can be distortive in the short term and inefficient in the long term.

4 min read

Tax Relief for Families in Europe

Most countries provide tax relief to families with children—typically through targeted tax breaks that lower income taxes. While all European OECD countries provide tax relief for families, its extent varies substantially across countries.

2 min read
Federal deductibility SBA Paycheck Protection Program (PPP) in the CARES Act. Small Business Administration Paycheck Protection Program (PPP) in the CARES Act

HEROES Act Temporarily Increases Dependent Credit Generosity

The HEROES Act would make notable expansions to all three dependent-related credits, increasing maximum credit amounts, refundability, and income eligibility phaseouts. Practically, this means that certain filers could expect to receive a larger refund for each additional hour of work, eligible dependent, and dependent care expenses if the bill became law.

5 min read
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The Child Tax Credit: Primer

The Child Tax Credit (CTC) is a partially-refundable tax credit available to parents with qualifying dependents under the age of 17. Like other tax credits, the CTC reduces tax liability dollar-for-dollar of the value of the credit.

25 min read

Tracking State Legislative Responses to COVID-19

Many states are racing to pass budgets, emergency COVID-19 supplemental appropriations, and other must-pass legislation as quickly as possible. We’re tracking the latest state legislative responses to the coronavirus crisis.

66 min read

Overview of Previous Tax Rebates During Economic Downturns

The timing from enactment to distribution has varied from about one and a half months to more than two months, indicating that it has historically taken a significant amount of time for individual taxpayers to receive their rebates after the policies have been put in place.

4 min read
Bernie Sanders CEO Pay Act, Tax Excessive CEO Pay Act, Bernie Sanders CEO tax Work Opportunity Tax Credit WOTC, Supplemental Nutrition Assistance Program (SNAP), Temporary Aid for Needy Families (TANF) Sherrod Brown, Ben Cardin

Tax Options for Economic Relief During the Coronavirus Crisis

Instead of simply reaching for fiscal stimulus with the goal of increasing economic activity, tax policy changes can give vulnerable individuals and businesses additional liquidity and space to survive the reduction in economic activity needed in light of the coronavirus outbreak.

5 min read