Congressional Research Service Reports - 834 Matching Results
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- 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.
- 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.
- Capital Gains and Securities Transactions Taxation in Japan: Fact Sheet
- This fact sheet provides information on the taxation of securities transactions and capital gains income in Japan at the national level.
- Tax Incentives for Alcohol Fuels
- The blender's tax credits were specifically enacted to complement the excise tax exemptions, so as to help support farm incomes by finding another market for corn, sugar, and other agricultural products that are the basic raw materials for alcohol production. More recently, proponents of expanding the alcohol fuels tax incentives argue that they reduce smog and improve air quality.
- Comparison of 501(c )(3) and 501(c )(4) Organizations
- This paper briefly compares the differences between tax-exempt organizations described in Internal Revenue Code section 501(c)(3) and those described in section 501(c)(4). Although some organizations can qualify as either a 501(c)(3) or a 501(c)(4) organization, there are two outstanding differences between the two categories which may make one type of exemption more desirable than the other: deductibility of contributions and ability to lobby without significant limits.
- The Flat Tax and Other Proposals: Effects on Housing
- Several proposals for major reform of the Federal income tax system, including replacement of the current tax with a new type of tax, have been introduced or considered in the 104th Congress. Among the most widely discussed are the flat tax, a value-added tax, a national sales tax, a proposal for a direct consumption tax (called the USA tax), and income tax reform. Most of these new taxes convert the tax base from an income to a consumption base, most eliminate deductions for mortgage interest and property taxes, and most flatten the rate structure--in some cases by adopting a single tax rate. While these tax revisions touch on all aspects of the economy, this paper focuses on the effects on housing.
- Effects of Flat Taxes and Other Proposals on Housing: An Overview
- Studies have estimated that some of these revisions would cause a decline in demand for houses and significant reduction in house prices--perhaps in excess of 15 percent. These studies, however, presumed a fixed supply of housing; even a limited supply response would greatly decrease predicted asset price effects. Supply response is likely to be large in the long run and not insignificant in the short run. Effects on housing demand might also be mitigated by increases in savings rates and lower interest rates. Thus, effects of the flat tax on housing prices are likely to be limited in the short run and very small in the long run. Rental housing demand, on the other hand, would be encouraged with a shift to a consumption tax base.
- Taxes to Finance Superfund
- Since its reauthorization in 1986 through December 31, 1995, the Hazardous Substance Superfund, which was first created in 1980, has been financed largely by the revenues generated from three excise taxes on petroleum and chemicals and a special income tax on corporations.
- Adoption: Interethnic Placement Legislation In the 104th Congress
- This report discusses the legislation by the 104th Congress to increase overall adoption rates by prohibiting racial and other discriminatory practices in the adoption process. The report identifies this as a provision of the Small Business Job Protection Act, which will also increase minimum wage.
- Excise Taxes on Alcohol, Tobacco, and Gasoline: History and Inflation Adjusted Rates
- This report provides inflation adjusted excise tax rates for alcohol, tobacco, and gasoline products. The base for computation is November 1951; the adjustments show what the tax rates would be if they had been increased to reflect inflation. All of the above cited commodities had rate increases effective for that date under the Revenue Act of 1951. Just as the Congress was prepared to lower excise tax rates because of peacetime conditions, plans had to be revised as a result of the start of the Korean War. Thus, the Revenue Act of 1951 was born out of revenue needs due to increased military expenditures.
- Transportation Fuel Taxes Early in the 105th Congress
- The 105th Congress has reinstated for about half a year the federal excise taxes on fuel used by noncommercial aviation. This follows a similar move by the 104th Congress on aviation fuel taxes, and actions pertaining to the tax on diesel fuel used in recreational motorboats, and to the fuel tax credits given to first purchasers of diesel-powered cars and light trucks. The 104th Congress also debated repeal of the increase of 4.3 cents per gallon in transportation fuel taxes imposed by the Omnibus Budget Reconciliation Act of 1993 (OBRA93) (P.L. 103-66), but no new law resulted.
- The Tax Treatment of Alternative Transportation Fuels
- Historically, federal energy policy, including energy tax policy, promoted the development of oil and gas at the expense of alternative fuels and nonconventional forms of energy. Beginning in the 1970s, there was a shift in the focus of energy tax policy away from oil and gas toward energy conservation and toward the development of alternative fuels and nonconventional forms of energy.
- Aviation Taxes and the Airport and Airway Trust Fund
- This report discusses the reauthorization of excise tax revenues for the airport and airway trust fund, which has been a contentious issue for the last two years. Most of the concern during this period was about future funding needs for the Federal Aviation Administration (FAA). The issue, somewhat unexpectedly, became an element of the tax plans embedded in House and Senate FY1998 budget reconciliation proposals. The House proposed a major structural change in how aviation taxes would be imposed.
- Gasoline Excise Tax - Historical Revenues: Fact Sheet
- This report provides a fact sheet about the Gasoline Excise Tax - Historical Revenues. The gas tax was regarded as a user tax where the federal government has imposed a gasoline excise tax with the passage of the revenue act in 1932.
- Gasoline Excise Tax—Historical Revenues: Fact Sheet
- The federal government has levied a tax on gasoline since 1932. This report provides a table that examines this tax since its inception.
- Tax Benefits for Education in the Taxpayer Relief Act of 1997
- No Description Available.
- The Taxpayer Relief Act of 1997: An Overview
- No Description Available.
- Global Climate Change: The Energy Tax Incentives in the President's FY1999 Budget
- This report describes the Energy Tax incentives in the President's FY1999 budget regarding Global Climate Change.
- Social Security Reform: How Much of a Role Could Private Retirement Accounts Play?
- Numerous proposals have been made calling for creation of individual retirement accounts to replace or supplement future Social Security benefits. Some believe that having workers accumulate assets based on their own contributions would be a better way to secure future retirement incomes. Others see the creation of private accounts as a way to offset cuts in Social Security that may be needed to restore the system to a sound financial footing. Much of the debate is fueled by the perception that per dollar of contributions, individual accounts invested in the private sector would exceed the value of future Social Security benefits, particularly since those benefits will likely need to be curtailed as the post World War II baby boomers retire.
- The Work Opportunity Tax Credit: A Fact Sheet
- The 104th Congress replaced the Targeted Jobs Tax Credit (TJTC, 1978-1994) with the Work Opportunity Tax Credit (WOTC) in section 1201 of the Small Business Job Protection Act of 1996 (P.L. 104-188). This document provides basic facts about the WOTC.
- The Level of Taxes in the United States, 1940-1997
- No Description Available.
- Social Security Taxes: Where Do Surplus Taxes Go and How Are They Used?
- The costs of the Social Security program, both its benefits and administrative expenses, are financed by a tax on wages and self-employment income. Commonly referred to as FICA and SECA taxes (because they are levied under the Federal Insurance and Self-Employment Contributions Acts), these taxes flow each day into thousands of depository accounts maintained by the government with financial institutions across the country. Along with many other forms of revenues, these Social Security taxes become part of the government’s operating cash pool, or what is more commonly referred to as the U.S. treasury. In effect, once these taxes are received, they become indistinguishable from other monies the government takes in.
- The Work Opportunity Tax Credit and the 105th Congress
- The Work Opportunity Tax Credit (WOTC) was initiated in the Small Business Job Protection Act of 1996 (P.L. 104-188). It is a temporary measure intended to encourage for-profit employers to hire members of specifically designated groups thought to experience recurring problems in the labor market. This document describes the WOTC and identifies issues for members of the 105th Congress.
- Revenue Legislation in the Congressional Budget Process
- Most of the laws establishing the federal government's revenue sources are permanent and continue year after year without any additional legislative action. Congress, however, typically enacts revenue legislation, changing some portion of the existing tax system, every year. Revenue legislation may include changes to individual and corporate income taxes, social insurance taxes, excise taxes, or tariffs and duties. Congressional consideration of revenue legislation is governed by various constitutional provisions and procedural rules.
- Lobbying Regulations on Non-Profit Organizations
- This report is intended to provide a brief overview of the various potential restrictions, rules or regulations upon lobbying activities of non-profit organizations.
- Lobbying Regulations on Non-Profit Organizations
- This report is intended to provide a brief overview of the various potential restrictions, rules or regulations upon lobbying activities of non-profit organizations.
- Tax Issues: National Public Opinion
- This report provides a sample of public opinion questions concerning the current tax system, the Internal Revenue Service, and proposals for tax reform. It will be updated as new poll results become available. The report is for the use of Members as they consider legislation currently before the 105 Congress.
- Tax Issues: National Public Opinion
- No Description Available.
- Marriage Penalty Tax Relief: The Gramm Amendment
- No Description Available.
- Individual Retirement Accounts (IRAs): Legislative Issues in the 105th Congress
- No Description Available.
- Taxpayer Protections in the IRS Restructuring Bill: Attorneys' Fees and Damages for IRS Abuses
- No Description Available.
- Taxpayer Protections in the Proposed IRS Restructuring Act: Burden of Proof
- No Description Available.
- Transportation Fuel Taxes, Legislative Issues, and the Transportation Equity Act
- In reauthorizing federal surface transportation programs this year (P .L 105-178), Congress has modified the attributes of some of the transportation fuel excise taxes that fluid. those programs and others. Since the federal government first started taxing transportation fuels, the issue of how the revenues should be used has played a major role in determining whether and which transportation fuels should be taxed; and by how much. Congress changed several aspects of transportation fuel taxation in 1997, most notably redirecting revenues from deficit reduction to the trust funds established for transportation-related projects This report provides the context for federal excise taxes on transportation fuels describes recent developments, and outlines the structure of those taxes on the major fuels with respect to levels, disposition of revenues, effective dates, and expiration dates. This report will be updated as legislative activity warrants.
- PILT (Payments in Lieu of Taxes): Somewhat Simplified
- Under current federal law, local governments are compensated through various programs for losses to their tax bases due to the presence of most federally owned land. Some of these programs are run by specific agencies, and apply only to that agency's land. The most widely applicable program, while run by the Bureau of Land Management (BLM), applies to many types of federally owned land, and is called "Payments in Lieu of Taxes" or PILT. The level of payments is calculated under a complex formula.
- Individual Capital Gains Income: Legislative History
- Since the enactment of the individual income tax in 1913, the appropriate taxation of capital gains income has been a perennial topic of debate in Congress. Almost immediately after the passage of the Revenue Act of 1913, legislative steps were initiated to change and modify the tax treatment of capital gains and losses. This report discusses different tax treatments and revenue acts since 1913. Updated June 29, 1998
- IRS Reform: Innocent Spouse Rule
- Married couples filing joint tax returns are liable individually and as a couple for all taxes due on the return with a limited exemption for innocent spouses. This report discusses joint and several liability, which has been the subject of much criticism and calls for reform or elimination.
- IRS Reform: Innocent Spouse Rule
- Married couples filing joint tax returns are liable individually and as a couple for all taxes due on the return with a limited exemption for innocent spouses. This report discusses joint and several liability, which has been the subject of much criticism and calls for reform or elimination.
- Major Tax Issues in the 105th Congress: A Summary
- Taxes are again a focus of policy debate in during the first part of 1998. Many in Congress favor a tax cut, although the size of a possible cut is under discussion. Another issue is whether a tax cut should be offset by spending cuts and revenue raisers or instead financed by the expected budget surpluses -- in effect returning the surpluses to taxpayers in a manner similar to a rebate.
- 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
- Tax Code Termination Act: A Fact Sheet
- This report discusses the Tax Code Termination Act, which would “sunset” (repeal) the Internal Revenue Code of 1986 on December 31, 2002 and would require that any new federal tax system that is adopted be approved not later than July 4, 2002.
- Tax Code Termination Act: A Fact Sheet
- No Description Available.
- Internet Tax Bills in the 105th Congress
- This report tracks the evolution and content of the Internet tax freedom bills. In general, the bills would impose a federal moratorium on the ability of state and local governments to impose taxes on certain aspects of the Internet and would establish a temporary federal commission to study selected issues and make policy recommendations.
- Internet Tax Bills in the 105th Congress
- "This report tracks the evolution and content of the Internet tax freedom bills" (p. i).
- Short-Run Macroeconomic Effects of Fundamental Tax Reform
- No Description Available.
- Global Climate Change: The Energy Tax Incentives in the President's FY2000 Budget
- This report discusses the FY2000 budget, which includes several energy tax incentives intended to reduce greenhouse gasses linked to possible global warming.
- Excise Taxes on Alcohol, Tobacco, and Gasoline: History and Inflation-Adjusted Rates
- This report provides inflation-adjusted excise tax rates for alcohol, tobacco, and gasoline products. The base for computation is November 1951. All of the above cited commodities had rate increases effective for that date under the Revenue Act of 1951. The adjustments show what the tax rates would be in 1999 if they had been increased to reflect inflation
- Alcohol Fuels Tax Incentive
- This report discusses federal tax subsidies for alcohol transportation fuels, as well as legislative actions underway to repeal, extend, or reduce them.
- Capital Gains Taxes: An Overview
- The capital gains tax has been a tax cut target since the 1986 Tax Reform Act treated capital gains as ordinary income. An argument for lower capital gains taxes is reduction of the lock-in effect. Some also believe that lower capital gains taxes will cost little compared to the benefits they bring and that lower taxes induce additional economic growth, although the magnitude of these potential effects is in some dispute. Others criticize lower capital gains taxes as benefitting higher income individuals and express concerns about the budget effects, particularly in future years. Another criticism of lower rates is the possible role of a larger capital gains tax differential in encouraging tax sheltering activities and adding complexity to the tax law.
- Capital Gains Taxes: Distributional Effects
- This report presents several different measures of the distribution of the capital gains tax are presented. These measures examine the absolute and relative distribution across income classes, the effects on the distribution of taxes, and the proportion of the population affected by the tax.
- 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.