If you've ever wanted to design your own corporate tax reform, now you can with our new Interactive Tax Reform Calculator. There is no question that the U.S. corporate tax system is badly in need of reform, and leaders in both parties have been pursuing this goal.
It's no secret that taxes will be a central element in national politics over the next fourteen months leading up to the Presidential election. With that in mind, Republican Presidential candidate Jon Huntsman is prepared to offer up a comprehensive tax reform plan.
Tax Policy Center has two sets of interesting tables that have just come out in the past few days. They offer some great information for those of you who are eager to brush up on your knowledge of the tax code.
Clutch Goals -- The U.S. Women’s Soccer team scored an improbable victory over Brazil on Sunday in the Women’s World Cup, overcoming a scoring and manpower deficit with a last-minute goal and sealing the victory through penalty kicks. A similar storyline is playing out in Washington involving a different deficit -- the federal budget deficit. It looks as if negotiations to raise the statutory debt limit and reduce the deficit will also come down to the wire.
Coverage of the so-called "chained CPI" has been heating up recently, due to rumors that it might be included in the latest round of debt negotiations.
More Fireworks in Store – Washington, DC celebrated Independence Day on Monday night with its annual fireworks display on the National Mall. Though the traditional pyrotechnics may be out of the way, lawmakers returning to work today could produce more fireworks in the nation’s capital.
Yesterday the Government Accountability Office (GAO) released a study on the complexity of the federal tax code at a Senate Finance Committee hearing on tax reform. The GAO study shows that switching to a simpler, fairer, and more efficient tax code would be a relatively easy way to control the deficit while bolstering the economy.
The bicameral, bipartisan debt limit and deficit reduction negotiations chaired by Vice President Biden resumed today with the group’s fifth meeting since it first convened last month. The pace of the talks is expected to pick up next week with as many as three meetings.
For today's 10-year anniversary of the 2001 tax cuts (EGTRRA), CRFB issued a release this morning calling for any extensions of the 2001/2003/2010 tax cuts to be fully paid for. The 2001 tax cuts, along with the expansions and extensions in 2003 and 2010, will have cost the Treasury well over $2 trillion by 2012 when they are scheduled to expire.