Taxes
Latest
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The Tax Cuts and Jobs Act Doesn't Comply with the Byrd Rule
While the Tax Cuts and Jobs Act (TCJA) under consideration in the House would satisfy reconciliation instructions requiring it add no more than $1.5...
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House Tax Plan May Add Over $2 Trillion to the Debt
Note: This blog has been updated from its original posting to account for the new JCT score and a new estimate for the cost of extending the family...
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A Step Backwards for Fiscal Responsibility
For Immediate Release Today, the House Ways and Means Committee unveiled the Chairman’s Mark of the “Tax Cuts and Jobs Act.” The following is a...
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Tax Cuts and Jobs Act Will Cost $1.5 Trillion
According to House Ways and Means Committee Chairman Kevin Brady (R-TX), today's Tax Cuts and Jobs Act will add $1.51 trillion to the debt, before...
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Five Gimmicks That May Hide the True Costs of Tax Reform
The budget resolution recently passed by Congress sets the stage for fast-track tax reform legislation (a process known as reconciliation) that could...
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Temporary Expensing is a Budget Gimmick and a Bad Idea
One provision included in the $2.2 trillion " Unified Tax Framework" would allow companies to fully deduct or "expense" capital purchases other than...
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Is President Trump's Tax Cut the Largest in History Yet?
President Trump has often stated that his proposed tax cut will be the largest in history. We previously found his $5.5 trillion framework in April...
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Event Recap: Paying for Tax Reform
On October 4, the Committee for a Responsible Federal Budget (CRFB) hosted an event on Capitol Hill on the need to pay for tax reform. The event...
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Maya MacGuineas: Trump Tax Cuts Could Cost Your Kids Dearly
Maya MacGuineas is president of the nonpartisan Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently...
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Options to Help Pay for the Big Six Tax Reform Framework
The unified framework for tax reform released by the White House and GOP Congressional leaders includes several provisions that could result in about...
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Does the State & Local Tax Deduction Mostly Help High-Income Households?
At a press briefing yesterday, White House Press Secretary Sarah Huckabee Sanders defended the fact that the Big 6 tax plan removes the state and...
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A Tale of Two Budgets
For Immediate Release This week, the House is voting on a Fiscal Year 2018 budget while at the same time the Senate is debating its own version – and...