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Blog Profile / Business in The Beltway


URL :http://blogs.forbes.com/beltway/
Filed Under:Business & Finance
Posts on Regator:400
Posts / Week:2
Archived Since:February 28, 2011

Blog Post Archive

Is Dynamic Scoring of Tax Bills Ready For Prime Time?

The House has instructed the Joint Committee on Taxation and the Congressional Budget Office to factor in the macroeconomic effects of tax law changes when calculating the official budget score of revenue bills. But are existing models up to the task of what’s commonly called dynamic scoring? A group of experts assembled today by the […]

Full Text: President Obama’s 2015 State Of The Union Address

Mr. Speaker, Mr. Vice President, Members of Congress, my fellow Americans: We are fifteen years into this new century. Fifteen years that dawned with terror touching our shores; that unfolded with a new generation fighting two long and costly wars; that saw a vicious recession spread across our nation and the world. It has been, […]

Rep. Bob Goodlatte Would Abolish The Tax Code…and Require A Balanced Budget

Sometimes, the strangeness on Capitol Hill takes your breath away. Representative Bob Goodlatte (R-VA) introduced three bills as soon as the new Congress was sworn in this week. The first would abolish the entire tax code and replace it with…something else. The other two would amend the Constitution to require a balanced budget. One specifically […]

Nine Tax Stories to Watch In 2015??

So much has changed. Yet, when it comes to, so much has not. Republicans have taken control of Congress and now hold governorships in 31 states. The U.S. economy is finally on solid ground. And presidential hopefuls are gearing up for the 2016 election. But for all that, the top tax stories of 2015 […]

House GOP Leadership Would Require Dynamic Scoring of Some Tax Bills. Will It Matter?

Last night, the House Republican proposed new rules that would require the Joint Committee on Taxation and the Congressional Budget Office to incorporate macroeconomic effects of “major” legislation into their official budget estimates. But there may be less to these new rules for so-called “dynamic scoring” than meets the eye. The GOP did not make […]

The Tax Vox Lump of Coal Awards: The 10 Worst Tax Ideas of 2014

It’s time for the annual Tax Vox Lump of Coal Awards for the worst tax policy of 2014. The past 12 months were a banner year for bad ideas and their perpetrators. The Top 10 are: Frank Underwood & Elvis. Tax subsidies for economic development hardly ever pay for themselves. But two are worthy of […]

The War on the IRS

The massive 2015 spending bill that President Obama is likely to sign this week continues an ongoing effort to trash the Internal Revenue Service.  It is a cynical recipe for a self-fulfilling disaster: Give the agency more and more work. Cut its budget. Blame it for failing to do its job. Repeat. House GOP Appropriators […]

‘Fast Track’ To Nowhere: Congress Shouldn’t Give Obama Power To Ram Through TPP

If the Trans-Pacific Partnership (TPP) trade and global governance agreement has any chance at passage, it will require the usual alliance of Democrats and Republicans. Disgruntled citizens voted to “throw the bums out” because they were not delivering jobs and prosperity. Yet there is a danger that President Obama and the Republican leadership did not […]

Will Immigrants Get A Tax Windfall From Refundable Credits?

In the end-of-the-year congressional scramble, lawmakers scuttled an effort to permanently extend a number of tax breaks—largely because many feared it would open the door to widespread use of refundable tax credits by undocumented immigrants covered by President Obama’s recent executive order. But is their concern justified? Three sets of rules related to residency and […]

Why the More Generous Child and Earned Income Tax Credits Should Be Made Permanent

co-authored with William G. Gale While most of the tax drama these days is focused on the fate of 50+ mostly-business tax breaks that expired nearly a year ago, lawmakers are also debating two provisions that are enormously important to low- and moderate-income households-the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC). Temporary measures […]

My Favorite (Expired) Tax Breaks

And now, for a lighter look at tax extenders, here’s a song that borrows the tune of The Sound of Music’s “My Favorite Things.” If you’re looking for something more serious, check out Len Burman’s TaxVox thoughts on the issue. My Favorite (Expired) Tax Breaks Special deductions of teachers’ expenses, Tax-free forgiveness for lost residences, […]

How Did Medical Device Makers Become Poster Children for Obamacare Critics

The push to repeal the Affordable Care Act’s tax on medical devices has somehow become a touchstone for GOP efforts to chip away at President Obama’s health care law. But why?  To paraphrase Bogart’s  classic line from Casablanca:  Of all the taxes in all laws in all the world, why did they pick this one? […]

Now is the Perfect Time to Raise Gas Taxes

Let’s see if I have this right: Congress needs to finance highway and transit projects but can’t agree on how. The traditional revenue source is the gasoline tax. Gas prices are at their lowest levels in years and dropping. Consumers would barely notice if they had to pay a bit more now at the pump. […]

Did Cutting Taxes Get Governors Reelected?

At first glance, the message was pretty clear: If you were a governor who cut, you probably got reelected on Tuesday. If you were a governor who raised (or even a candidate who worked for one) you probably lost. It was true in deep red states like Kansas where, against all odds, Sam Brownback […]

Six Things To Watch In the New GOP Congress

Republicans had a very good day yesterday. But can they translate their ballot-box success into a positive legislative agenda? It won’t be easy but here are six clues: Mitch McConnell: He is a brilliant legislative tactician. We know he’ll use those skills to try to outmaneuver Democratic Leader Harry Reid but will he also use […]

Is There Any Chance Congress Will Pass Business Tax Reform Next Year?

In the run-up to week’s congressional elections, Republicans are saying that if they win control of the Senate, they will try to pass tax reform as part of an ambitious “we can get things done” agenda. Is there any possibility that a GOP-controlled Congress could rewrite the provisions of the tax code? The chances are not zero. [...]

Why Lawyers and Economists Can’t Communicate, And What It Means For Tax Policy

Any close observer of the making of tax can see it: Lawyers and economists looking at the same issue through entirely different prisms. I’ve been fascinated by how their respective brains work, and why they have so much trouble communicating with one another. It turns out I am not alone. In a newly published paper [...]

A “Normal” Budget Isn’t Really Normal

Treasury closed the financial books on fiscal 2014 last week. As my colleague Howard Gleckman noted, the top line figures all came in close to their 40-year averages. The $483 billion deficit was about 2.8 percent of gross domestic product, for example, slightly below the 3.2 percent average of the past four decades. Tax revenues clocked [...]

Taxes and Spending Return To “Normal”– But Not For Long

Yesterday, the Treasury Department reported that the deficit for Fiscal Year 2014, which ended on Sept. 30, fell to $483 billion, or about 2.8 percent of Gross Domestic Product. This being, the report was hailed as either an enormous success or dismissed as meaningless.  Who is right? Is it good news or bad news? [...]

Pass-Through Firms Report $800 Billion In Net Income, Can’t Be Ignored In Business Tax Reform

is going through another one of its periodic calls for tax reform. But new research by my Tax Center colleague Joe Rosenberg shows just how hard it is to separate taxation from the individual tax code. And it should serve as a warning to those who think Congress can enact corporate tax reform that ignores these [...]

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