Treasury Department Archive
Big Questions, Simple Rejections | Tax Policy Center
June 15, 2021
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TweetShareSharePin0 Shares Will a trillion dollar infrastructure bill be President Biden’s high-water mark? The latest CQ Roll Call Capitol Insiders Survey of Hill staffers suggests Congress may pass a $1 trillion infrastructure bill… but it may be the last item on Biden’s legislative agenda that makes it through. What about a one-time tax
Corporate Income Tax Base & President Biden’s Tax Proposals
June 15, 2021
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TweetShareSharePin0 Shares The negative effects of President Biden’s proposed 28 percent corporate income tax rate could be tempered by improving how the corporate income tax base treats investment expenses. As we explain in our new book Options for Reforming America’s Tax Code 2.0, tax rates only matter because there is a tax base where they
The Tax Justice Network June 2021 Spanish language podcast, Justicia ImPositiva: Impuesto mínimo global a las corporaciones #60
June 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: Nuevo gobierno en el Perú La rebelión
Global Leaders Officially Endorse Global Minimum Corporate Tax Rate
June 14, 2021
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TweetShareSharePin0 Shares President Biden and G-7: Yes to a global minimum corporate tax of 15 percent. Biden and leaders of the Group of 7 nations publicly endorsed on Friday a 15 percent minimum global corporate tax rate. They also agreed to replace individual country digital services taxes with a destination tax based on where multinational
Global Minimum Tax: Questions for Global Tax Reform
June 11, 2021
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TweetShareSharePin0 Shares There has been some confusion about how some parts of the recent G7 agreement on new tax rules for multinational companies might work. The new policies would target the largest and most profitable multinationals and bring in a global minimum tax. The G7 agreement is subject to further debate and further agreement at
Fiscal Session Finishes Strong with Tax Reform
June 11, 2021
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TweetShareSharePin0 Shares It took until the last day of the session, but Louisiana lawmakers succeeded in passing a tax reform package Thursday that would simplify a complicated tax code and make the state more economically competitive. Because these measures are reliant on constitutional amendments, voters will ultimately decide the success of the plan in October.
Mind the Growing Tax Gap
June 11, 2021
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TweetShareSharePin0 Shares Treasury: Tax gap could grow to $7 trillion over ten years. Treasury estimates that the difference between how much Americans owe in taxes and how much they pay will grow to $7 trillion over the next decade. Deputy Assistant Secretary Mark Mazur says a growing gap results in higher tax rates, and urged
Who Bears the Burden of Corporate Taxes? Reviewing the Evidence
June 10, 2021
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TweetShareSharePin0 Shares The Biden administration has pledged to not raise taxes on anyone earning less than $400,000 a year. However, the administration’s corporate tax proposals would likely violate that pledge, given that corporations are comprised of people who also might earn less than $400,000. The economic evidence suggests that in the long run, workers and
Taxes & Infrastructure Funding for Highways
June 10, 2021
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TweetShareSharePin0 Shares As spending priorities are dividing lawmakers trying to negotiate among the various federal infrastructure plans, less time is being spent on the funding of one of the key components—our highways, both current and future taxes and fees. One of the current taxes, a federal excise tax on heavy commercial vehicles and trailers, is
President Biden Wants Taxes to Go Up—Way Up—for High Income Households
June 10, 2021
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TweetShareSharePin0 Shares TPC shows how Biden’s tax plan would affect different households. TPC projects that in 2022, households making $26,000 or less would receive an average tax cut of about $600. Taxes for low-income families with children would plunge by an average of $3,200. TPC’s Howard Gleckman calls this a feature, not a bug, in
