#Tax Policy

Introduction As the Democratic majority in Congress attempts to finalize their nearly $2 trillion social spending plan, one issue that will soon come into sharper focus is President Biden’s campaign promise not to raise taxes on anyone making…

Part 3: Elderly and Disabled Introduction President Biden’s FY 2022 budget proposes to spend nearly $1.7 trillion over the next ten years on several new or expanded entitlement programs for children, college students, the elderly, and the disabled.  The budget…

Part 1: Children Introduction President Biden’s FY 2022 budget proposes to spend nearly $1.7 trillion over the next ten years on several new or expanded entitlement programs for children, college students, the elderly, and the disabled. The budget also contains…

Overview: Doubling the debt Every year the Congressional Budget Office (CBO) issues a long-term budget outlook covering the next 30 years, assuming no changes in current law. This year’s report was released on September 21 and covered the years 2020…

A European Commission decision that Apple owes Ireland more than $14.5 billion in back taxes highlights the need for corporate tax reform in Washington -- something that elected officials in both parties have been talking about for years. The commission…

After a larger deal fell apart, the House recently voted 378-46 to approve a one-year extension of more than 50 lapsed tax breaks for businesses and other special interests -- unfortunately, without paying for them. The Joint Committee on Taxation…

In a change of pace from its usual practice, Congress is allowing a group of temporary tax provisions known as “extenders” to expire at the end of the year.The extenders, like other tax expenditures, are federal subsidies that encourage certain…

Given the acrimonious political environment and the wide discrepancy between the House and Senate budgets, the conference committee now scheduled to report by Dec.13 begins its work with low expectations. However, if the committee approaches its task with flexibility and…