Congressional Research Service Reports - 34 Matching Results

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

Description: Income tax rates are at the center of many recent policy debates over taxes. Some policymakers argue that raising tax rates, especially on higher income taxpayers, to increase tax revenues is part of the solution for long-term debt reduction. This report examines the top tax rates since 1945 and analyzes the ways in which tax rates affect economic growth.
Date: December 12, 2012
Creator: Hungerford, Thomas L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Taxation of Unemployment Benefits

Description: Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Date: January 17, 2012
Creator: Whittaker, Julie M.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Taxation of Unemployment Benefits

Description: Unemployment compensation (UC) benefits have been fully subject to the federal income tax since the passage of the Tax Reform Act of 1986 (P.L. 99-514). Individuals who receive UC benefits during a year may elect to have the federal (and in some cases state) income tax withheld from their benefits. This report provides an overview of the taxation of UC benefits and legislation related to taxing UC benefits.
Date: September 13, 2012
Creator: Whittaker, Julie M.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Tax Provisions to Assist with Disaster Recovery

Description: Report that provides a basic overview of existing, permanent provisions that benefit victims of disasters, as well as past, targeted legislative responses to particular disasters. The relief is discussed without examining either the qualifications for or the limitation on claiming the provisions' benefits.
Date: November 29, 2012
Creator: Lunder, Erika K.; Pettit, Carol A. & Teefy, Jennifer
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945

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.
Date: September 14, 2012
Creator: Hungerford, Thomas L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects

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, wi… more
Date: August 14, 2012
Creator: Guenther, Gary
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Challenge of Individual Income Tax Reform: An Economic Analysis of Tax Base Broadening

Description: Congressional interest in a major reform of the individual income tax that would broaden the base and use the additional tax revenues to lower rates and/or reduce the deficit has increased. This report discusses ways in which the tax base can be broadened, tax expenditures, and impediments to broadening the base/eliminating or reducing expenditures.
Date: March 22, 2012
Creator: Gravelle, Jane G. & Hungerford, Thomas L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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“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.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Energy Tax Policy: Issues in the 112th Congress

Description: The economic rationale for interventions in energy markets helps inform the debate surrounding energy tax policy. This report begins by providing background on the economic rationale for energy market interventions, highlighting various market failures. After identifying possible market failures in the production and consumption of energy, possible interventions are discussed. The report concludes with an analysis of energy tax policy as it stands at the start of the 112th Congress.
Date: September 24, 2012
Creator: Sherlock, Molly F.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Energy Tax Policy: Issues in the 112th Congress

Description: The economic rationale for interventions in energy markets helps inform the debate surrounding energy tax policy. This report begins by providing background on the economic rationale for energy market interventions, highlighting various market failures. After identifying possible market failures in the production and consumption of energy, possible interventions are discussed. The report concludes with an analysis of the current status of energy tax policy.
Date: March 28, 2012
Creator: Sherlock, Molly F. & Crandall-Hollick, Margot L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Tax Reform: An Overview of Proposals in the 112th Congress

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 … more
Date: May 31, 2012
Creator: Bickley, James M.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The Corporate Income Tax System: Overview and Options for Reform

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.
Date: September 13, 2012
Creator: Keightley, Mark P. & Sherlock, Molly F.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Tax Reform: An Overview of Proposals in the 112th Congress

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 t… more
Date: October 26, 2012
Creator: Bickley, James M.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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The American Opportunity Tax Credit: Overview, Analysis, and Policy Options

Description: This report gives an overview of the American Opportunity Tax Credit (AOTC)—enacted on a temporary basis by the American Recovery and Reinvestment Act and extended through the end of 2012 by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010— which is a partially-refundable tax credit that provides financial assistance to taxpayers who are attending college, or whose children are attending college. There are a variety of policy options mentioned in the report r… more
Date: June 11, 2012
Creator: Crandall-Hollick, Margot L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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Federal Taxation of Aliens Working in the United States

Description: This report outlines issues regarding the taxation of aliens since several pieces of current legislation have been introduced that would impose restrictions for claiming child tax credits or for claiming credits and refunds. The report includes an overview of immigration status, resident or nonresident aliens, taxation of income for various classifications, and Social Security and medicare taxes.
Date: May 18, 2012
Creator: Lunder, Erika K.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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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.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
open access

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

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, wi… more
Date: September 10, 2012
Creator: Guenther, Gary
Item Type: Refine your search to only Report
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: September 25, 2012
Creator: Crandall-Hollick, Margot L.
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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