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 Collection: Congressional Research Service Reports
Alcohol Fuels Tax Incentives and the EPA Renewable Oxygenate Requirement
This report examines the current alcohol fuels Federal tax incentives. Part I describes the statutory provisions of each of the five incentives. Part II examines the major public policy and economic issues of concern to policymakers: potential revenue effects, effectiveness, and economic efficiency. digital.library.unt.edu/ark:/67531/metacrs110/
Federal Taxation of Student Aid: An Overview
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The 2001 and 2003 Bush Tax Cuts and Deficit Reduction
This report uses the context of the current and long-term economic environment to examine the tax cuts implemented by the George W. Bush Administration, including the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. digital.library.unt.edu/ark:/67531/metadc98014/
Pensions and Retirement Saving Plans: Comparison of H.R. 1776 with Current Law
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Pensions: Major Provisions of the Retirement Security and Savings Act of 2000
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Individual Retirement Accounts (IRAs): Legislative Issues in the 105th Congress
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Individual Retirement Accounts (IRAs): Legislative Issues in the 106th Congress
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Tax Benefits for Education in the Taxpayer Relief Act of 1997
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Tax Benefits for Education in the Taxpayer Relief Act of 1997: New Legislative Developments
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Tax Benefits for Education in the Taxpayer Relief Act of 1997: New Legislative Developments
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Social Security and Medicare Taxes and Premiums: Fact Sheet
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Social Security and Medicare Taxes and Premiums: Fact Sheet
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Taxes to Finance Superfund
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Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law
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Federal Estate, Gift, and Generation-Skipping Taxes: A Description of Current Law
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The Flat Tax and Other Proposals: Effects on Housing
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Charitable Choice Provisions of H.R. 7
H.R. 7, the Community Solutions Act, on July 19 won House passage without amendment by a vote of 233-198. The bill includes basic elements of President Bush’s faith-based initiatives: tax incentives for private giving–scaled back from original proposals (Title I)–and expansion of charitable choice (Title II). (Title III deals with individual development accounts.) digital.library.unt.edu/ark:/67531/metacrs1933/
Marriage Penalty Legislation: A Comparison of Alternate Proposals
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Small Business Tax Preferences: Legislative Proposals in the 108th Congress
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Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects
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. digital.library.unt.edu/ark:/67531/metadc122285/
Surface Transportation Assistance Act of 1982
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Social Security: Coverage of Household Workers - A Fact Sheet
On October 22, 1994, President Clinton signed legislation (P.L. 103-387) that changes social security coverage of household workers. The new law changed the threshold to a yearly amount and raised it (to $1,000 in 1994, indexed thereafter to average wage growth-it became $1,100 in 1998, 1,200 in 2000, and 1,300 in 2001). It remains at $1,300 in 2002. In addition, the new law exempted most domestic workers under age 18, and provided that Social Security and unemployment taxes will be reported on the employer's annual federal tax return. digital.library.unt.edu/ark:/67531/metadc26035/
Tax Reform Act of 1986: Public Law 99-514
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Tax-Exempt Organizations: Political Activity Restrictions and Disclosure Requirements
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Tax Gap: Should the 3% Withholding Requirement on Payments to Contractors by Government Be Repealed?
This report covers the background and current status of three bills introduced to the 112th Congress to repeal Section 511 withholding provisions. The bills are S. 89, S. 164, and H.R. 674, as well as S.Amdt. 405 to S.782, the Economic Development Revitalization Act of 2011. digital.library.unt.edu/ark:/67531/metadc96705/
Tax Treatment of the Use of Employer-Provided Aircraft for Entertainment: Current Law and Issues for Congress
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Tuition Tax Credits
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U.S. Renewable Electricity: How Does the Production Tax Credit (PTC) Impact Wind Markets?
This report discusses the use of wind as a power source, including: production tax credits (PTC), U.S. electricity demand growth, and the price of natural gas. Issues for Congress include whether or not the PTC will be extended. digital.library.unt.edu/ark:/67531/metadc93940/
Reducing the Budget Deficit: Tax Policy Options
This report analyzes various revenue options for deficit reduction, highlighting proposals made by the President's Fiscal Commission and the Debt Reduction Task Force. Others, such as House Budget Committee Chairman Paul Ryan and the Obama Administration, have noted the importance of tax reform as part of a deficit reduction plans. These plans, however, do not provide the same level of detail as the Fiscal Commission and Debt Reduction Task Force, and are therefore not reviewed in detail as part of this report. digital.library.unt.edu/ark:/67531/metadc40119/
Reducing the Budget Deficit: Tax Policy Options
This report analyzes various revenue options for deficit reduction, highlighting proposals made by the President's Fiscal Commission and the Debt Reduction Task Force. Others, such as House Budget Committee Chairman Paul Ryan and the Obama Administration, have noted the importance of tax reform as part of a deficit reduction plans. These plans, however, do not provide the same level of detail as the Fiscal Commission and Debt Reduction Task Force, and are therefore not reviewed in detail as part of this report. digital.library.unt.edu/ark:/67531/metadc96684/
Revenue Legislation in the Congressional Budget Process
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Residential Energy Tax Credits: Overview and Analysis
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. digital.library.unt.edu/ark:/67531/metadc122219/
An Overview and Comparison of Senate Proposals to Extend the “Bush Tax Cuts”: S. 3412 and S. 3413
This report provides an overview of the Bush tax cuts, followed by brief summaries of the Reid and Hatch proposals, respectively. Revenue loss estimates of certain provisions of these bills are also included, as well as a brief summary of H.R. 8. In addition, detailed summary tables comparing the Reid and Hatch proposals—to each other and to current law—are provided. Finally, this report concludes with a brief overview of the current policy debate surrounding the partial or full extension of the Bush tax cuts. digital.library.unt.edu/ark:/67531/metadc99069/
Raising the Tax Rates on High-Income Taxpayers: Pros and Cons
This report focuses on the debate over whether the top two marginal tax rates should be permitted to rise back to their 2001 levels, once the temporary tax provisions known as the "Bush tax cuts" expire on December 31, 2010. The report discusses arguments for and against raising the tax rates. digital.library.unt.edu/ark:/67531/metadc29628/
Federal Taxation of the Drug Industry and Its Effects on New Drug Development
This report examines the impact of federal taxation on the incentive to invest in new drug development. More specifically, it looks at the provisions in current tax law that affect the performance of the drug industry, compares the industry's federal tax burden with that of other major industries, and assesses the effect of federal taxation on the incentive to invest in new drug development. digital.library.unt.edu/ark:/67531/metadc700831/
Business Tax Issues in 2009
This report discusses the tax climate for businesses, while economic stimulus proposals dominate the congressional debate. During 2009, it is anticipated that congressional deliberations will once again turn towards the extension of several expiring business tax provisions, energy taxation, tax shelters, and international taxation, while continuing to examine opportunities to stimulate the economy. digital.library.unt.edu/ark:/67531/metadc700568/
The Streamlined Sales and Use Tax Agreement: A Brief Description
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The Streamlined Sales and Use Tax Agreement: A Brief Description
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Tax Expenditures and the Federal Budget
Among the options likely to be considered to deal with the long-term fiscal problem is reform of the federal tax system. The growth of the alternative minimum tax (AMT) and the expiration of the 2001 and 2003 tax cuts in 2010 will likely force some action on tax policy. The perception that the federal tax system is too complex and unfair could lead to public support for tax reform. Past efforts to reform the federal tax system have included policies to rein in the use and expense of tax expenditures--the special deductions, exclusions, exemptions, and credits resulting in revenue losses. This report examines tax expenditures within the context of the federal budget and discusses tax expenditure analysis. digital.library.unt.edu/ark:/67531/metadc491242/
Tax Issues and the Gulf of Mexico Oil Spill: Legal Analysis of Payments and Tax Relief Policy Options
This report provides analysis of various policy options for providing tax relief to oil spill victims, highlighting the circumstantial differences between previous natural disasters and the current oil spill. The report concludes with a brief summary of current legislative efforts. digital.library.unt.edu/ark:/67531/metadc491474/
Coal Excise Tax Refunds: United States v. Clintwood Elkhorn Mining Co.
In 1998, a U.S. district court held that the imposition of the coal excise tax, or black lung excise tax, on coal destined for export was unconstitutional. The process of refunding the tax has been controversial. This is because some coal producers and exporters have attempted to bypass the limitations in the Internal Revenue Code's refund scheme for bringing suit under the Export Clause in the Court of Federal Claims, seeking damages from the United States in the amount of coal excise taxes paid. The Federal Circuit Court of Appeals held the court had jurisdiction under the Tucker Act to hear the suits and allowed them as an alternative to the Code's refund process. However, in a 2008 decision, United States v. Clintwood Elkhorn Mining Co., the Supreme Court unanimously held that taxpayers must comply with the Code's administrative refund process before bringing suit. Meanwhile, H.R. 1762 and S. 373 would provide an alternative method for taxpayers to receive coal excise tax refunds. digital.library.unt.edu/ark:/67531/metacrs10743/
Budget Surpluses: Economic Effects of Debt Repayment, Tax Cuts, or Spending - An Overview
Updated projections released on July 15 by the Congressional Budget Office (CBO) indicate budget surpluses rising from $63 billion (0.9% of GDP) in FY1998 to more than $100 billion (1.3% to 1.5% of GDP) from FY2002 through FY2005 and over $200 billion (1.8% to 1.9%) from FY2006 through FY2008.1 digital.library.unt.edu/ark:/67531/metacrs552/
Cigarette Taxes to Fund Health Care Reform: An Economic Analysis
A cigarette excise tax increase of 75 cents per pack has been proposed to finance part of the President's universal health care program. The tax enjoys considerable public support, would raise about $11 billion per year, and would be relatively simple to administer because it would increase an existing manufacturer's excise tax. This report discusses these rationales, as well as other effects of and concerns about the tax, organized into topics of market failure as a justification for the tax (i.e., economic efficiency); potential for revenue; equity; and the job loss the tax might cause in tobacco growing regions. digital.library.unt.edu/ark:/67531/metadc26039/
Energy Tax Policy: An Economic Analysis
The report provides background on the theory and application of tax policy as it relates to the energy sector, particularly with respect to the theory of market failure in the energy sector and the suggested policy remedies. This background provides a context for understanding how current or proposed energy tax policy may affect other policy objectives or be affected by such objectives. digital.library.unt.edu/ark:/67531/metacrs9111/
Energy Efficiency and Renewable Energy Legislation in the 109th Congress
This report reviews the status of energy efficiency and renewable energy legislation introduced during the 109th Congress. Action in the second session has focused on appropriations bills; the first session focused on omnibus energy policy bill H.R. 6 and several appropriations bills. this report describes several major pieces of legislation, including the Energy Policy Act of 2005 and the Transportation Equity Act. For each bill listed in this report, a brief description and a summary of action are given, including references to committee hearings and reports. Also, a selected list of hearings on renewable energy is included. digital.library.unt.edu/ark:/67531/metacrs9380/
Federal Farm Promotion ("Check-off") Programs
The U.S. Supreme Court in 2005 affirmed the constitutionality of the so-called beef check-off program, one of the 18 generic promotion programs for agricultural products that are now active nationally. Supporters view check-offs as economically beneficial self-help activities that need minimal government involvement or taxpayer funding. Producers, handlers, and/or importers are required to pay an assessment, usually deducted from revenue at time of sale - thus the name check-off. However, some farmers contend they are being "taxed" for advertising and related activities they would not underwrite voluntarily. The Supreme Court's decision to uphold the beef check-off is considered significant for the future of the other programs, although the Court left open the possibility of additional challenges. digital.library.unt.edu/ark:/67531/metadc26082/
International Tax Provisions of the American Competitiveness and Corporate Accountability Act (H.R. 5095)
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Homeland Security: 9/11 Victim Relief Funds
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Tax Policy Options After Hurricane Katrina
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Hurricane Katrina: The Response by the Internal Revenue Service
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