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Options to Help Low-Income Households

TweetShareSharePin0 Shares In our new book, Options for Reforming America’s Tax Code 2.0, we illustrate the economic, distributional, and revenue trade-offs of 70 tax changes, including several that would boost the incomes of poor households specifically. Below we evaluate some options that would provide the largest direct relief to low-income taxpayers but would have little

SALT Cap Repeal | State and Local Tax Deduction

TweetShareSharePin0 Shares As President Biden’s tax plans are considered in Congress, the future of the $10,000 cap for state and local tax deductions (SALT) is becoming an important part of the tax debate. Certain members of the House and Senate want the SALT deduction cap removed, which would benefit primarily higher earners—and result in a

Biden’s First 100 Days: Taxes & Tax Policy

TweetShareSharePin0 Shares In his first 100 days as president, Joe Biden has proposed more than a dozen significant changes to the U.S. tax code that would raise upwards of $3 trillion in revenue and reduce incentives to invest, save, and work in the United States. While proposing ways to pay for new spending and for

Pass-through Deduction: New Research | Tax Foundation

TweetShareSharePin0 Shares While proponents of the Section 199A pass-through deduction claimed it would boost investment and critics claimed it would encourage tax avoidance and income shifting, new research casts doubt on both claims. The Tax Cuts and Jobs Act of 2017 (TCJA) enacted the new provision that allows taxpayers with income from pass-through businesses (S
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