Tag: Archive

March 18, 2010 02:14 PM | Permalink |

Over the past several weeks, Democratic leaders in the House and Senate have pursued a strategy of enacting several small pieces of legislation to address joblessness. While lawmakers might find this strategy easier than passing one great big bill, it does make it a bit difficult for those of us who are trying to keep track of which tax provisions Congress has passed and which provisions are still being debated. This report simplifies this task by summarizing recent activity on jobs bills and describing each bill and the tax provisions included.

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March 11, 2010 01:01 AM | Permalink |

U.S. Public Interest Research Group and Citizens for Tax Justice released a joint statement on the lack of legislation from the Senate to close the “carried interest” loophole. The loophole allows managers of buyout funds and hedge funds to pay taxes at a lower rate than middle-income people.

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March 9, 2010 02:41 PM | Permalink |

It’s difficult to design a tax plan that will lose $2 trillion over a decade even while requiring 90 percent of taxpayers to pay more. But Congressman Paul Ryan has met that daunting challenge. This analysis makes obvious that Congressman Ryan’s budget plan has nothing to do with balancing the budget, but has everything to do with creating a system that takes more from the poor and less from the rich.

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March 5, 2010 04:53 PM | Permalink |

A new report from Citizens for Tax Justice examines the Medicare tax reform included in the health care plan recently put forward by President Obama. The report concludes that this reform would affect only 2.3 percent of taxpayers in 2014. The richest one percent would pay about 84 percent of the resulting tax increase, and the richest five percent would pay virtually all of the tax increase.

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February 25, 2010 08:14 PM | Permalink |

Steps Congress must take to avoid larger budget deficits and restore fairness to our tax system.

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February 19, 2010 12:30 PM | Permalink |

Since 1995, Senator Arlen Specter of Pennsylvania has introduced legislation to create a federal “flat tax” in every session of Congress, including this session. This single-rate tax would replace the existing progressive personal income tax, as well as the corporate income tax and estate tax.

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February 10, 2010 01:55 PM | Permalink |

To avoid larger budget deficits, the federal government must collect at least as much revenue as the President proposes. There are two bare minimum requirements for Congress to achieve this. First, Congress must not extend any more of the Bush tax cuts than President Obama proposes to extend. Second, Congress must raise at least as much revenue as President Obama has proposed ($760 billion over ten years) through loophole-closers and new revenue measures.

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December 11, 2009 10:09 AM | Permalink |

Senate Democrats have proposed a new, very-high-rate excise tax on employer-paid health
insurance benefits that exceed certain levels. The goal is to force employers to eliminate
excessive benefits. Congressional analysts assume that employers then will replace their
employees’ lost health insurance benefits with increased taxable cash wages. Proponents of the
plan argue that this trade-off would be a progressive reform to the tax code, but this analysis concludes otherwise.

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December 7, 2009 02:33 PM | Permalink |

A comparison of the Stop Tax Haven Abuse Act (introduced by Senator Carl Levin and Rep. Lloyd Doggett) and the Foreign Account Tax Compliance Act (introduced by House Ways and Means Chairman Charles Rangel and Senate Finance Chairman Max Baucus).

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December 2, 2009 11:08 AM | Permalink |

The best estate tax policy, in terms of both fairness and fiscal responsibility, would prevent the estate tax from disappearing in 2010 and set the estate tax parameters as close as possible to pre-Bush law. The worst estate tax policy would be to shrink (or repeal) the estate tax to make it even less significant than it is under the rules in effect for 2009.

On December 3, the House of Representatives approved a bill (H.R. 4154) that would make permanent the estate tax rules in effect in 2009. On the spectrum of “good policy” to “bad policy,” this proposal falls somewhere in the middle. On one hand, it would be a tax cut of hundreds of billions of dollars for families who pass millions of dollars on through consecutive generations. On the other hand, it would prevent the estate tax from disappearing in 2010 and could make lawmakers less tempted to make permanent a repeal of the estate tax or to cut it more than it has been cut as of 2009.

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