-Economic effects of tax policy Archive

TweetShareSharePin0 Shares With Congress in the midst of an intense debate over a big new tax and spending bill, policymakers are battling over the costs and economic benefits of many proposals. One way to measure those is dynamic scoring—a tool that makes it possible to better understand how policy changes affect the overall economy, and

TweetShareSharePin0 Shares Policymakers and even policy analysts often consider the progressivity of specific proposals independently from the broader systems in which they operate. Consequently, they often leave the public with a misleading impression of how those proposals affect various income groups. Here are four examples of how specific programs might appear to be regressive yet

TweetShareSharePin0 Shares My teenaged son and I just watched the science-fiction thriller “The Tomorrow War,” in which a future government drafts present-day civilians to travel forward in time and fight an alien invasion. It turns out (spoiler) that the extra-terrestrials had crashed into one of Earth’s glaciers centuries ago. Climate change melts the ice and

TweetShareSharePin0 Shares The 2017 Tax Cut and Jobs Act (TCJA) was built on the idea that lower business and corporate tax rates, new domestic investment incentives, and guardrails against international profit shifting would increase investment, make workers more productive, and ultimately raise output and wages. Did it work? In a new paper with my Tax

TweetShareSharePin0 Shares IRS Commissioner Charles Rettig told the Senate Finance Committee on April 13 that the agency could begin delivering monthly 2021 Child Tax Credit (CTC) payments starting in July. Rettig was responding to provisions of the American Rescue Plan (ARP) that increased the CTC and directed the IRS to deliver half of a family’s

TweetShareSharePin0 Shares Regardless of years of prevalent conversation amongst legislators regarding the demand to expand the government earnings tax obligation base, tax obligation expenses have actually stayed extremely secure as a share of the economic situation as well as will likely remain to do so, according to a new study by the Tax Policy Center.