This study simulates - for 23 metropolitan areas - the change in equilibrium housing prices due to the Obama Administration's recently-proposed tax reforms. While none of the President's proposed tax reforms are directed at changing the value of housing, it is clear that under certain...
This report examines the effects of imposing a new value added tax (VAT) in the United States and using the revenue raised to lower payroll tax and corporate income tax rates. We summarize how different forms of VAT operate and compare how a VAT, payroll tax, and corporate income treat different...
April is here, which means it's almost time to pony up and render unto Caesar. We've gathered our receipts and other documents, and dragged ourselves to the strip-mall tax preparer or fired up do-it-yourself software to determine how big our refund is -- or how much we owe Uncle Sam. No one...
The Roadmap for America's Future Act of 2010 is a detailed reform package that overhauls Social Security, Medicare, Medicaid, and the U.S. federal tax system. In a January 27, 2010, report, the Congressional Budget Office (CBO) analyzed the spending provisions of the plan. This paper presents...
In 2010, 45 percent of tax returns will either remit no federal income tax or receive a net tax refund. But this figure overstates the share of taxpayers who would be unaffected by higher income tax rates. Raising all rates by 1 percent would hold only 34 percent of tax returns harmless; others...
Eric Toder testified before the Senate Committee on Finance on how recently proposed incentives for small business may help economic recovery. These incentives are only a small component of broader policies to accelerate recovery from the deep recession we have experienced in the past two years...
The New Markets Tax Credit (NMTC) program targets debt and equity capital to businesses or organizations situated in low-income, economically distressed communities. This is a report on a diverse sample of five projects that utilized New Markets Tax Credits allocated early in the program's...
The expansion of refundable tax credits and the proliferation of specialized tax breaks means that households with similar incomes can face wildly different effective federal tax rates. For example, among middle-income households, the median effective income tax rate is 3 percent, but 10 percent...
The Tax Policy Center has examined the key tax proposals in President Obama's 2011 budget. Separate discussions below describe each of the proposals including current law, proposed changes, and, when appropriate, the distributional effects. The budget as presented by the president lacks complete...
The Effect of Proposed Tax Reforms on Metropolitan Housing Prices
This study simulates - for 23 metropolitan areas - the change in equilibrium housing prices due to the Obama Administration's recently-proposed tax reforms. While none of the President's proposed tax reforms are directed at changing the value of housing, it is clear that under certain...
Effects of Imposing a Value-Added Tax To Replace Payroll Taxes or Corporate Taxes
This report examines the effects of imposing a new value added tax (VAT) in the United States and using the revenue raised to lower payroll tax and corporate income tax rates. We summarize how different forms of VAT operate and compare how a VAT, payroll tax, and corporate income treat different...
5 Myths about your taxes
April is here, which means it's almost time to pony up and render unto Caesar. We've gathered our receipts and other documents, and dragged ourselves to the strip-mall tax preparer or fired up do-it-yourself software to determine how big our refund is -- or how much we owe Uncle Sam. No one...
Taxes and the Budget
Leonard Burman's testimony before the Subcommittee on Select Revenue Measures House Ways and Means Committee on taxes and the federal budget.
Preliminary Revenue Estimate and Distributional Analysis of the Tax Provisions in A Roadmap for America's Future Act 2010
The Roadmap for America's Future Act of 2010 is a detailed reform package that overhauls Social Security, Medicare, Medicaid, and the U.S. federal tax system. In a January 27, 2010, report, the Congressional Budget Office (CBO) analyzed the spending provisions of the plan. This paper presents...
Held Harmless by Higher Income Tax Rates?
In 2010, 45 percent of tax returns will either remit no federal income tax or receive a net tax refund. But this figure overstates the share of taxpayers who would be unaffected by higher income tax rates. Raising all rates by 1 percent would hold only 34 percent of tax returns harmless; others...
Tax Issues Related to Small Business Job Creation
Eric Toder testified before the Senate Committee on Finance on how recently proposed incentives for small business may help economic recovery. These incentives are only a small component of broader policies to accelerate recovery from the deep recession we have experienced in the past two years...
Analysis of Selected New Markets Tax Credit Projects
The New Markets Tax Credit (NMTC) program targets debt and equity capital to businesses or organizations situated in low-income, economically distressed communities. This is a report on a diverse sample of five projects that utilized New Markets Tax Credits allocated early in the program's...
Variation in Effective Tax Rates
The expansion of refundable tax credits and the proliferation of specialized tax breaks means that households with similar incomes can face wildly different effective federal tax rates. For example, among middle-income households, the median effective income tax rate is 3 percent, but 10 percent...
Tax Proposals in the 2011 Budget
The Tax Policy Center has examined the key tax proposals in President Obama's 2011 budget. Separate discussions below describe each of the proposals including current law, proposed changes, and, when appropriate, the distributional effects. The budget as presented by the president lacks complete...