federal taxes Archive
One Vote Down, Many More To Go
September 16, 2021
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TweetShareSharePin0 Shares House Ways & Means completes its markup of Chairman Neal’s tax bill. The committee advanced the tax-related section of Democrats’ $3.5 trillion spending package. The bill extends more generous tax credits for low- and middle-income families as well as renewable energy and increases taxes on high-income individuals, large estates, and corporations. The package

U.S. Would Have Third-Highest Corporate Tax Rate in OECD Under Ways and Means Plan
September 15, 2021
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TweetShareSharePin0 Shares The reconciliation legislation introduced by Democrats on the House Ways and Means committee would increase the top federal corporate tax rate from 21 to 26.5 percent. However, most companies would face a higher tax rate than 26.5 percent, given that most states also levy a corporate income tax. In the initial Biden administration

Corporations in Most States Would Face Income Tax Rate Exceeding 30 Percent Under Ways and Means Proposal
September 15, 2021
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TweetShareSharePin0 Shares A centerpiece of House Democrats’ reconciliation proposal is an increase in the corporate tax rate, from 21 percent to 26.5 percent. The corporate income tax is among the most economically harmful ways to raise revenue. Higher corporate taxes reduce output, productivity, and wages in the long run, while making the United States less

Effective Income Tax Rates Have Fallen for The Top One Percent Since World War II
September 15, 2021
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TweetShareSharePin0 Shares While average effective tax rates barely changed in the US from 1945 to 2015, the average tax rates of high-income households fell sharply—from about 50 percent to 25 percent for the highest income 0.01 percent and from about 40 percent to about 25 percent for the top 1 percent. Our measure of effective
A Big Bill, A Distributional Analysis
September 15, 2021
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TweetShareSharePin0 Shares Chairman Neal’s tax bill: Big, bold, with hits and misses. TPC’s Howard Gleckman boils the bill down to its essence: It’s big. Really big. He outlines some hits and misses, like increased IRS enforcement funding (a hit) and the 3 percentage point surtax on income over $5 million, in addition to a new
EU To Table A Digital Tax Proposal In October
September 15, 2021
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TweetShareSharePin0 Shares by Ulrika Lomas, Tax-News.com, Brussels 15 September 2021 The European Commission has committed to tabling a proposal for a digital tax in October, whether or not an international agreement surfaces from OECD-led talks on new international tax rules for the world’s largest firms. The pledge was made after members of the European Parliament

The Tax Justice Network September 2021 Spanish language podcast, Justicia ImPositiva: Los litigios entre multinacionales y los estados, tráfico de drogas, litio #63
September 14, 2021
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TweetShareSharePin0 Shares Welcome to our Spanish language podcast and radio programme Justicia ImPositiva with Marcelo Justo and Marta Nuñez, free to download and broadcast on radio networks across Latin America and Spain. ¡Bienvenidos y bienvenidas a nuestro podcast y programa radiofónico! Escuche por su app de podcast favorita. En este programa: ¿Habrá nuevas reglas impositivas para las grandes

Top Combined Capital Gains Tax Rates Would Average 36.8 Percent Under House Dems’ Plan
September 14, 2021
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TweetShareSharePin0 Shares House Democrats’ reconciliation legislation proposes raising the long-term capital gains tax rate to 25 percent and applying a new 3 percentage point surcharge on all income above $5 million of modified adjusted gross income. When including the net investment income tax of 3.8 percent under current law, the top marginal capital gains tax

Families Planned to Use Child Tax Credit to Pay Bills but Some Were Confused About Eligibility
September 14, 2021
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TweetShareSharePin0 Shares Starting in July, many parents began receiving monthly payments of the Child Tax Credit (CTC). A new IPSOS survey as well as Urban Institute interviews suggest these regular payments will help families make ends meet. Families report they’ll use the credit to catch up with past due bills and pay regular expenses such
Budget Bill Markup Continues | Tax Policy Center
September 14, 2021
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TweetShareSharePin0 Shares Moving a tax bill. The House Ways & Means Committee will continue work on its provisions of the Build Back Better Act. The panel begins Day 3 of its markup today and will continue tomorrow, including the now released legislative amendment that details the House Democrats’ tax plan. The big score. The Joint