CDCTC

: TaxVox

“They Said That They Would Do It and Indeed They Did.”  

“ Oh, what a night …” but no shut down. Ted Cruz and a handful of allies succeeded in delaying the Senate vote on the 2015 budget, but they couldn’t stop it. The $1.1 trillion spending bill was approved late Saturday night by a vote of 56-40 . And three months into the fiscal year, most of the

December 15, 2014Renu Zaretsky

Individual Taxes: TaxVox

The “Helping Working Families Afford Child Care Act” Would Help, but Doesn’t Solve the Timing Mismatch

The Child and Dependent Care Tax Credit (CDCTC) does not work for low-income families. It fails on three counts – the credit is nonrefundable, covers only a portion of expenses, and comes long after expenses have been incurred. Senators Jeanne Shaheen (D-NH), Barbara Boxer (D-CA), Patty Murray (D-

July 28, 2014Elaine Maag

Campaigns, Proposals, and Reforms: TaxVox

High Income Households Would Pay Most—But Not All—of the New Taxes in Obama’s 2014 Budget

The revenue proposals included in President Obama’s 2014 budget would, as intended, significantly raise taxes on the highest-income American households. However, despite Obama’s long-standing pledge...

April 22, 2013Howard Gleckman

Individual Taxes: TaxVox

Simplifying Child Care Tax Benefits

Every year at tax time I am reminded of two tax benefits that subsidize my children’s child care – the employer-provided child care exclusion and...

April 15, 2013Elaine Maag