Treasury Department Archive

TweetShareSharePin0 Shares Tracking the 2021 Biden Tax Plan and Federal Tax Proposals Taxes are once again at the forefront of the public policy debate as legislators grapple with how to fund new infrastructure spending, among other priorities. The Biden Administration has proposed about $4 trillion of new federal spending over 10 years, partially funded with

TweetShareSharePin0 Shares Launch Resource Center: President Biden’s Tax Proposals The Biden administration’s proposed American Jobs Plan (AJP), American Families Plan (AFP), and fiscal year 2022 budget would increase federal spending by about $4 trillion over 10 years, including $1.7 trillion for infrastructure, partially funded with higher taxes on individuals and businesses as well as increased

TweetShareSharePin0 Shares The Biden administration has suggested several tax increases for his infrastructure plan. Public infrastructure can help increase economic growth, but by raising taxes on private investment, the net effect on growth may be negative. However, tax options like retaining expensing for private R&D investment or making 100 percent bonus depreciation for equipment permanent

TweetShareSharePin0 Shares Lawmakers have proposed three retirement savings bills to expand access and simplify certain rules for retirement savers and employers, but each version would fall short of comprehensive reform. The proposals would build on the improvements made by the SECURE Act of 2019 to increase the flexibility of savings accounts and expand limits for

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

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

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