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 Collection: Congressional Research Service Reports
Tax Policy Options for Deficit Reduction

Tax Policy Options for Deficit Reduction

Date: February 18, 2011
Creator: Sherlock, Molly F.
Description: This report analyzes various revenue options for deficit reduction and highlights proposals made by the President's Fiscal Commission and the Debt Reduction Task Force.
Contributing Partner: UNT Libraries Government Documents Department
Tax Reform: An Overview of Proposals in the 112th Congress

Tax Reform: An Overview of Proposals in the 112th Congress

Date: October 26, 2012
Creator: Bickley, James M.
Description: This report gives an overview of tax reform issues. The President and leading members of Congress have stated that fundamental tax reform is a major policy objective for the 112th Congress. Some Members have said that fundamental tax reform is needed in order to raise a large amount of additional revenue, which is necessary to reduce high forecast budget deficits and the sharply rising national debt. Congressional interest has been expressed in both a major overhaul of the U.S. tax system and the feasibility of levying a consumption tax.
Contributing Partner: UNT Libraries Government Documents Department
Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects

Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects

Date: August 14, 2012
Creator: Guenther, Gary
Description: This report examines the current status, legislative history, and economic effects of the two expensing allowances (Section 179 and Bonus Depreciation Allowance) and also discusses initiatives in the 112th Congress to modify them. Expensing is the most accelerated form of depreciation for tax purposes. Section 179 of the Internal Revenue Code (IRC) allows a taxpayer to expense up to $125,000 of the total cost of new and used qualified depreciable assets it buys and places in service in 2012, within certain limits. In addition, Section 168(k) generally allows taxpayers to expense half the cost of qualified assets bought and placed in service in 2012.
Contributing Partner: UNT Libraries Government Documents Department
The Corporate Income Tax System: Overview and Options for Reform

The Corporate Income Tax System: Overview and Options for Reform

Date: September 13, 2012
Creator: Keightley, Mark P. & Sherlock, Molly F.
Description: This report (1) briefly reviews the current U.S. corporate tax system; (2) discusses economic factors that may be considered in the corporate tax reform debate; and (3) presents corporate tax reform policy options, including a brief discussion of current corporate tax reform proposals.
Contributing Partner: UNT Libraries Government Documents Department
Major Decisions in the House and Senate on Social Security: 1935-2010

Major Decisions in the House and Senate on Social Security: 1935-2010

Date: January 12, 2011
Creator: Sidor, Gary
Description: This report responds to the many inquiries that CRS gets for Social Security vote information, which range from requests for general information about legislative action over the years to requests for information about specific floor amendments. It is intended to be a reference document on the major statutory decisions made by Congress on the Social Security program. A detailed table of contents and a summary table of the legislation discussed are provided to aid the reader.
Contributing Partner: UNT Libraries Government Documents Department
Residential Energy Tax Credits: Overview and Analysis

Residential Energy Tax Credits: Overview and Analysis

Date: September 25, 2012
Creator: Crandall-Hollick, Margot L. & Sherlock, Molly F.
Description: This report explores one policy option for promoting residential energy efficiency: tax credits. It begins by providing an overview of the current residential energy-efficiency tax credits. The report then goes on to provide an economic rationale for residential energy-efficiency tax incentives, introducing the concept of "market failures" and "market barriers" which may lead to suboptimal or "economically inefficient" investment in energy-efficiency technologies. The final sections of this report provide an economic analysis of the primary tax incentives for residential energy efficiency and briefly review various policy options.
Contributing Partner: UNT Libraries Government Documents Department
Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945

Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945

Date: September 14, 2012
Creator: Hungerford, Thomas L.
Description: This report attempts to clarify whether or not there is an association between the tax rates of the highest income taxpayers and economic growth. Data is analyzed to illustrate the association between the tax rates of the highest income taxpayers and measures of economic growth.
Contributing Partner: UNT Libraries Government Documents Department
Higher Education Tax Benefits: Brief Overview and Budgetary Effects

Higher Education Tax Benefits: Brief Overview and Budgetary Effects

Date: September 25, 2012
Creator: Crandall-Hollick, Margot L.
Description: This report provides a brief overview of the higher education tax benefits that are currently available to students and their families. The report contrasts higher education tax benefits with traditional student aid, presents a brief history of higher education tax policy over the past 60 years, summarizes key features of the available tax benefits, and provides JCT estimates of revenue losses resulting from individual tax provisions.
Contributing Partner: UNT Libraries Government Documents Department
Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects

Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects

Date: September 10, 2012
Creator: Guenther, Gary
Description: This report examines the current status, legislative history, and economic effects of the two expensing allowances (Section 179 and Bonus Depreciation Allowance) and also discusses initiatives in the 112th Congress to modify them. Expensing is the most accelerated form of depreciation for tax purposes. Section 179 of the Internal Revenue Code (IRC) allows a taxpayer to expense up to $125,000 of the total cost of new and used qualified depreciable assets it buys and places in service in 2012, within certain limits. In addition, Section 168(k) generally allows taxpayers to expense half the cost of qualified assets bought and placed in service in 2012.
Contributing Partner: UNT Libraries Government Documents Department
Alternative Minimum Taxpayers by State: 2009, 2010, and Projections for 2012

Alternative Minimum Taxpayers by State: 2009, 2010, and Projections for 2012

Date: December 4, 2012
Creator: Maguire, Steven
Description: Report that breaks down, state-by-state, the percentage of taxpayers subject to Alternative Minimum Tax (AMT), and also maps out these projections for the year 2012.
Contributing Partner: UNT Libraries Government Documents Department