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Dynamic Scoring for Tax Legislation: A Review of Models
This report first explains dynamic scoring, including the types of effects incorporated and the types of models used, as well as what groups conduct or have conducted macroeconomic analysis of tax changes. The following section discusses the specific issues associated with tax reform. The final section discusses general issues surrounding the use of various models and reviews the empirical evidence on supply side responses.
Dynamic Scoring
This report explains dynamic scoring, including the types of effects incorporated and the types of models used, as well as what groups conduct or have conducted macroeconomic analysis of tax changes.
Dynamic Scoring for Tax Legislation: A Review of Models
This report first explains dynamic scoring, including the types of effects incorporated and the types of models used, as well as what groups conduct or have conducted macroeconomic analysis of tax changes. The following section discusses the specific issues associated with tax reform. The final section discusses general issues surrounding the use of various models and reviews the empirical evidence on supply side responses.
Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945 (Updated)
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.
Selected Recently Expired Business Tax Provisions ("Tax Extenders")
This report briefly summarizes and discusses the economic impact of selected business-related tax provisions that expired at the end of 2013 and that are being considered for extension.
U.S. International Corporate Taxation: Basic Concepts and Policy Issues
This report provides a general introduction to the basic concepts and issues relevant to the U.S. international corporate tax system. The explanations provided in this report emphasize the underlying concepts of the international tax system and are intended to be as simplified as possible.
The Federal Excise Tax on Gasoline and the Highway Trust Fund: A Short History
A history and overview of current issues relating to the gasoline excise tax.
501(c)(4)s and the Gift Tax: Legal Analysis
This report discusses whether substantial donations to tax-exempt 501(c)(4) organizations are subject to the federal gift tax.
The Internet Tax Freedom Act: In Brief
This report discusses the Internet Tax Freedom Act (ITFA; P.L. 105-277), which enacted in 1998, implemented a three-year moratorium preventing state and local governments from taxing Internet access, or imposing multiple or discriminatory taxes on electronic commerce.
What Effects Would the Expiration of the 2001 and 2003 Tax Cuts Have on the Economy?
In 2001 and 2003, Congress enacted major tax cuts (popularly referred to as the "Bush tax cuts"), the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. Congress is currently debating whether to extend some or all of these tax cuts that are scheduled to expire at the end of 2010. This report discusses the two main economic arguments against allowing the tax cuts to expire as scheduled, using historical evidence and by examining the current economic environment.
The Internet Tax Freedom Act: In Brief
This report discusses the Internet Tax Freedom Act (ITFA; P.L. 105-277), which enacted in 1998, implemented a three-year moratorium preventing state and local governments from taxing Internet access, or imposing multiple or discriminatory taxes on electronic commerce.
Taxation of Unemployment Benefits
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.
Taxation of Unemployment Benefits
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.
Taxation of Unemployment Benefits
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.
Taxation of Unemployment Benefits
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.
Spending and Tax Expenditures: Distinctions and Major Programs
This report identifies the largest spending and tax expenditures across eight major categories of federal activity: (1) defense and international affairs; (2) general science, space and technology, natural resources and the environment, and agriculture; (3) commerce and housing, community and regional development, and transportation; (4) education, training, employment, and social services; (5) health, including Medicare; (6) income security; (7) Social Security and veterans' benefits; and (8) administration of justice and general governance.
Internet Sales and State Taxes: Policy Issues
This report discusses Internet sales, which do not always include sales and use tax. Customers who do not pay sales or use tax to the vendor are typically required to remit the tax to their home state.
State Taxation of Internet Transactions
This report discusses significant issues in the remote sales tax collection debate, beginning with a description of state and local sales and use taxes.
Tax Credit Bonds: Overview and Analysis
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.
Tax Havens: International Tax Avoidance and Evasion
The first section of this report reviews what countries might be considered tax havens, including a discussion of the Organization for Economic Development and Cooperation (OECD) initiatives and lists. The next two sections discuss, in turn, the corporate profit-shifting mechanisms and evidence on the existence and magnitude of profit shifting activity. The following two sections provide the same analysis for individual tax evasion. The report concludes with overviews of alternative policy options and a summary of specific legislative proposals.
Tax Havens: International Tax Avoidance and Evasion
The first section of this report reviews what countries might be considered tax havens, including a discussion of the Organization for Economic Development and Cooperation (OECD) initiatives and lists. The next two sections discuss, in turn, the corporate profit-shifting mechanisms and evidence on the existence and magnitude of profit shifting activity. The following two sections provide the same analysis for individual tax evasion. The report concludes with overviews of alternative policy options and a summary of specific legislative proposals.
Tax Havens: International Tax Avoidance and Evasion
The first section of this report reviews what countries might be considered tax havens, including a discussion of the Organization for Economic Development and Cooperation (OECD) initiatives and lists. The next two sections discuss, in turn, the corporate profit-shifting mechanisms and evidence on the existence and magnitude of profit shifting activity. The following two sections provide the same analysis for individual tax evasion. The report concludes with overviews of alternative policy options and a summary of specific legislative proposals.
State Taxation of Internet Transactions
This report intends to clarify significant issues in the remote sales tax collection debate, beginning with a description of state and local sales and use taxes. Congress has a role in this issue because interstate commerce, in most cases, falls under the Commerce Clause of the Constitution.
Tax Havens: International Tax Avoidance and Evasion
The first section of this report reviews what countries might be considered tax havens, including a discussion of the Organization for Economic Development and Cooperation (OECD) initiatives and lists. The next two sections discuss, in turn, the corporate profit-shifting mechanisms and evidence on the existence and magnitude of profit-shifting activity. The following two sections provide the same analysis for individual tax evasion. The report concludes with overviews of alternative policy options, a summary of legislation enacted in the 111th Congress, and a summary of specific legislative proposals.
State Taxation of Internet Transactions
This report intends to clarify significant issues in the remote sales tax collection debate, beginning with a description of state and local sales and use taxes. Congress has a role in this issue because interstate commerce, in most cases, falls under the Commerce Clause of the Constitution. Congress will likely be asked to choose between taking either an active or passive role in the debate. In the 111th Congress, H.R. 5660 (former Representative Delahunt) would have granted SSUTA member states the authority to compel out-of- state vendors to collect sales and use taxes.
The Medical Device Excise Tax: Economic Analysis
This report reviews the issues surrounding the medical devices tax within the framework of basic principles surrounding the choice of commodities to tax under excise taxes. The next section describes the tax and its legislative origins. After that, the report analyzes the arguments for retaining and repealing the tax.
Tax Deductions for Individuals: A Summary
This report first describes what tax deductions are, how they vary in their effects on reducing taxable income, and how they differ from other provisions (e.g., exclusions or credits). Next, it discusses the rationale for deductions as part of the tax code. The final section of this report includes tables that summarize each individual tax deduction, under current law. Many of these deductions are part of the permanent income tax code.
Recently Expired Community Assistance Related Tax Provisions ("Tax Extenders"): In Brief
This report briefly summarizes four community assistance-related tax provisions included in the EXPIRE Act, which are (1) the New Markets Tax Credit, (2) Empowerment Zone Tax Incentives, (3) allocation of bond limitations for Qualified Zone Academy Bonds, and (4) the American Samoa Economic Development Credit.
Expired and Expiring Temporary Tax Provisions ("Tax Extenders")
This report discusses dozens of temporary tax provisions that expired at the end of 2013, and several other temporary tax provisions that are scheduled to expire at the end of 2014.
Restrictions on Itemized Tax Deductions: Policy Options and Analysis
This report analyzes various proposals to restrict itemized deductions--both across-the-board and individually tailored--using standard economic criteria of economic efficiency, distribution, simplicity, and estimated revenue effects. In particular, this report estimates each proposal's potential to contribute to revenue-neutral reductions in income tax rates and the consequences for economic behavior.
The Bush Tax Cuts and the Economy
This report examines the Bush tax cuts within the context of the current and long-term economic and budgetary environment.
The Medical Device Excise Tax: Economic Analysis
This report reviews the issues surrounding the medical devices tax within the framework of basic principles surrounding the choice of commodities to tax under excise taxes. The next section describes the tax and its legislative origins. After that, the report analyzes the arguments for retaining and repealing the tax.
Federal Deductibility of State and Local Taxes
This report provides a brief history of deductible state and local taxes, and discusses deduction for real estate property taxes, deductions for income, sales, and use taxes. The report also discusses policy alternatives and current legislation.
Recently Expired Community Assistance Related Tax Provisions ("Tax Extenders"): In Brief
This report briefly summarizes four community assistance-related tax provisions included in the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, which are the New Markets Tax Credit, Empowerment Zone Tax Incentives, allocation of bond limitations for Qualified Zone Academy Bonds, and the American Samoa Economic Development Credit. The EXPIRE Act would extend each of these provisions for two years (through 2015). A discussion of their economic impact and related extension bills in the 113th Congress is also included.
Recently Expired Charitable Tax Provisions ("Tax Extenders"): In Brief
This report discusses the four charitable tax provisions are discussed in this report: the enhanced charitable deduction for contributions of food inventory; tax-free distributions from individual retirement accounts for charitable purposes; basis adjustment to stock of S corporations making charitable contributions of property; and special rules for contributions of capital gain real property for conservation purposes.
Selected Recently Expired Individual Tax Provisions ("Extenders"): In Brief
This report briefly summarizes and discusses items categorized as individual tax provisions. These and other temporary tax provisions that are regularly extended for one or two years are often referred to as "tax extenders."
Tax Provisions that Expired in 2014 ("Tax Extenders")
This report provides a broad overview of the tax extenders that retroactively extend expired tax provisions, including the Tax Increase Prevention Act of 2014, which made tax provisions that had expired at the end of 2013 available to taxpayers for the 2014 tax year.
Tax Options for Financing Health Care Reform
This report reviews the revenue raisers proposed to fund health care reform. Other financing proposals are presented including those made by the Obama Administration and those introduced in earlier congressional work. The final sections discuss other proposals suggested by the round-table discussion participants.
The Rum Excise Tax Cover-Over: Legislative History and Current Issues
This report provides a history and analysis of the rum cover-over program and current legislative efforts to modify the program. The congressional debate on this legislation could also lead to debate on the broader issue of the cover-over program more generally.
Tax Reform: An Overview of Proposals in the 111th Congress
This report primarily covers fundamental tax reform by discussing background and proposals for review during the 111th Congress. It includes sections about fundamental tax reform, the relationship between income and consumption, what should be taxed, types of broad-based consumption taxes, international comparisons, other types of fundamental tax reform, legislative proposals and other legislation, and sections looking at other specific kinds of taxation.
Alternative Minimum Taxpayers by State: 2009, 2010, and Projections for 2012
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.
Tax Provisions to Assist with Disaster Recovery
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.
Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945
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.
Value-Added Tax (VAT) as a Revenue Option: A Primer
This report summarizes issues, arguments, and concerns relevant to a value-added tax (VAT).
Selected Recently Expired Individual Tax Provisions ("Tax Extenders"): In Brief
This report briefly summarizes and discusses four items categorized as individual tax provisions that are regularly extended for one or two years (tax extenders). These items include deductions for elementary and secondary school teachers, deductions for state and local taxes, deductions for tuition and related expenses, and exclusions for employer-provided transit and parking benefits.
The Excise Tax on High-Cost Employer-Sponsored Health Coverage: Background and Economic Analysis
This report gives a brief description of the excise tax on high-cost employer-sponsored coverage, commonly referred to as the Cadillac tax, including the legislative origins of the tax and an analysis of the revenue effects of the tax. It also analyzes the Cadillac tax using standard economic criteria of efficiency, equity, and administrative simplicity as well as an analysis of health insurance premium data to provide insights into what share of health insurance plans could exceed the Cadillac tax threshold and how the threshold could affect more health plans over time.
The Excise Tax on High-Cost Employer-Sponsored Health Insurance: Estimated Economic and Market Effects
This report examines several issues: it evaluates the potential of the Cadillac tax to affect health insurance coverage (and, therefore, the health market), and examines the expected incidence (burden) of the tax--that is, which group will pay the price of the tax.
Tax Provisions that Expired in 2014 ("Tax Extenders")
This report provides a broad overview of tax extenders -- a collective of temporary tax provisions for which measures have regularly extended the provisions when expired or expiring. Fifty-two temporary tax provisions expired at the end of 2014.
Health-Related Tax Expenditures: Overview and Analysis
This report analyzes health-related tax expenditures together at the budget function level, rather than focusing on the size of any single provision. To provide some insights into common questions about health-related expenditures, this report analyzes historical data on health-related tax expenditure estimates published by the Joint Committee on Taxation (JCT).
The Earned Income Tax Credit (EITC): An Economic Analysis
This report discusses the Earned Income Tax Credit (EITC), which is a refundable tax credit available to eligible workers earning relatively low wages