Congressional Research Service Reports - 19 Matching Results

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Reducing the Budget Deficit: Tax Policy Options

Description: 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 par… more
Date: July 13, 2011
Creator: Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department
open access

Tax Gap: Should the 3% Withholding Requirement on Payments to Contractors by Government Be Repealed?

Description: 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.
Date: July 18, 2011
Creator: Bickley, James M.
Partner: UNT Libraries Government Documents Department
open access

Higher Education Tax Benefits: Brief Overview and Budgetary Effects

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.
Date: July 10, 2012
Creator: Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
open access

The 2001 and 2003 Bush Tax Cuts and Deficit Reduction

Description: 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.
Date: July 18, 2012
Creator: Hungerford, Thomas L.
Partner: UNT Libraries Government Documents Department
open access

An Overview and Comparison of Senate Proposals to Extend the “Bush Tax Cuts”: S. 3412 and S. 3413

Description: 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 th… more
Date: July 25, 2012
Creator: Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
open access

“Amazon” Laws and Taxation of Internet Sales: Constitutional Analysis

Description: This report covers ways in which states are attempting to capture taxes on Internet sales. Two basic approaches include imposing tax collection responsibilities on the retailer, and requiring remote sellers to provide tax information to the state and/or it's customers. This report covers the legality of both options.
Date: July 26, 2012
Creator: Lunder, Erika K. & Luckey, John R.
Partner: UNT Libraries Government Documents Department
open access

The Potential Federal Tax Implications of United States v. Windsor (Striking Section 3 of the Defense of Marriage Act (DOMA)): Selected Issues

Description: This report will provide an overview of the potential federal tax implications for same-sex married couples of the U.S. Supreme Court (SCOTUS) ruling in United States v. Windsor, with a focus on the federal income tax. Estate tax issues are also discussed. Importantly, this report focuses on changes in the interpretation and administration of federal tax law that may result from the SCOTUS decision.
Date: July 18, 2013
Creator: Crandall-Hollick, Margot L.; Sherlock, Molly F. & Pettit, Carol A.
Partner: UNT Libraries Government Documents Department
open access

The OECD Initiative on Tax Havens

Description: This report examines the Organization for Economic Cooperation and Development (OECD) and its role in changes to U.S. laws related to bribery, tax havens.
Date: July 29, 2010
Creator: Jackson, James K.
Partner: UNT Libraries Government Documents Department
open access

The American Opportunity Tax Credit: Overview, Analysis, and Policy Options

Description: This report provides both an in-depth description of this tax credit and an analysis of its economic impact. This report is organized to first provide an overview of the American Opportunity Tax Credit (AOTC), followed by a legislative history that highlights the evolution of education tax credits from proposals in the 1960s through the recent extension of the AOTC at the end of 2012. This report then analyzes the credit by looking at who claims the credit, the effect education tax credits have… more
Date: July 10, 2014
Creator: Crandall-Hollick, Margot L.
Partner: UNT Libraries Government Documents Department
open access

Tax Issues and the Gulf of Mexico Oil Spill: Legal Analysis of Payments and Tax Relief Policy Options

Description: 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.
Date: July 15, 2010
Creator: Sherlock, Molly F.; Lunder, Erika K.; Liu, Edward C. & Klein, Heather S.
Partner: UNT Libraries Government Documents Department
open access

Tax Credit Bonds: Overview and Analysis

Description: Almost all state and local governments sell bonds to finance public projects and certain qualified private activities. Most of the bonds issued are tax-exempt bonds because the interest payments are not included in the bondholder's (purchaser's) federal taxable income. In contrast, Tax Credit Bonds (TCBs) are a type of bond that offers the holder a federal tax credit instead of interest. This report explains the tax credit mechanism and describes the market for the bonds.
Date: July 29, 2010
Creator: Maguire, Steven
Partner: UNT Libraries Government Documents Department
open access

Tax Reform in the 114th Congress: An Overview of Proposals

Description: This report provides background information regarding tax reform and discusses ways to make the U.S. tax system simpler, fairer, and more efficient.
Date: July 9, 2015
Creator: Sherlock, Molly F. & Keightley, Mark P.
Partner: UNT Libraries Government Documents Department
open access

PILT (Payments in Lieu of Taxes): Somewhat Simplified

Description: This report explains Payments in Lieu of Taxes (PILT), with an analysis of the five major factors affecting the calculation of a payment to a given county. It also describes the effects of recent legislative changes to PILT.
Date: July 27, 2015
Creator: Corn, M. Lynne
Partner: UNT Libraries Government Documents Department
open access

The Federal Tax Treatment of Married Same- Sex Couples

Description: This report provides an overview of the federal tax treatment of same-sex married couples, with a focus on the federal income tax.
Date: July 30, 2015
Creator: Crandall-Hollick, Margot L.; Pettit, Carol A. & Sherlock, Molly F.
Partner: UNT Libraries Government Documents Department
open access

2012 Farm Bill: Changing the Treatment of LIHEAP Receipt in the Calculation of SNAP Benefits

Description: This report describes the contents of the 2012 Farm Bill, cost reducing measures in the Farm Bill, and the implications of both of these. Specifically, the report focuses on SNAP (Supplemental Nutrition Assistance Program) which is a cost saving measure that addresses how certain deductions from income will be calculated.
Date: July 10, 2012
Creator: Aussenberg, Randy Alison & Perl, Libby
Partner: UNT Libraries Government Documents Department
open access

The 2001 and 2003 Bush Tax Cuts and Deficit Reduction

Description: 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.
Date: July 23, 2012
Creator: Hungerford, Thomas L.
Partner: UNT Libraries Government Documents Department
open access

ACA: A Brief Overview of the Law, Implementation, and Legal Challenges

Description: This report summarizes the Affordable Care Act (ACA) and the legal challenges it has faced. The report contains information on various lawsuits due to the ACA and provides the reasoning behind them as Congress violating its enumerated powers in the constitution. Moreover, the report covers the challenges of implementing the law.
Date: July 3, 2012
Creator: Redhead, C. Stephen; Chaikind, Hinda; Fernandez, Bernadette & Staman, Jennifer
Partner: UNT Libraries Government Documents Department
open access

Base Erosion and Profit Shifting (BEPS): OECD Tax Proposals

Description: This report first reviews the basics of international tax rules. It then discusses the various action items organized into Action Item 1, which relates to the digital economy and proposes standards only with respect to VATS; Action Items 2-5, 7, and 8-10, items related primarily to profit shifting; Action Item 5, which relates to harmful tax practices; Action Item 6, regarding tax treaties; and Action Items 11-15, which are primarily administrative in nature.
Date: July 24, 2017
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department
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