Blog Profile / Business in The Beltway


URL :http://blogs.forbes.com/beltway/
Filed Under:Business & Finance
Posts on Regator:376
Posts / Week:1.7
Archived Since:February 28, 2011

Blog Post Archive

Busting Five Tax Day Myths

Since Tax Day is tomorrow, it seems like a good time to bust a few myths about taxes. Here are five of the biggest misperceptions about the federal revenue code. Most of the info comes from two sources: the Tax Center’s Tax Topics (a trove of great information about who pays what) and the IRS2014 […]

For Most Households, It’s About the Payroll Tax, Not the Income Tax

While policymakers obsess about the income tax, they often lose sight of an important detail: For two-thirds of households, the levy that matters most is the payroll tax. According to a new report by the Joint Committee on Taxation, the 80 million tax filers making $40,000 or less will collectively pay no federal income tax and many […]

The Medicare ‘Doc Fix’ That Isn’t

The bill would repeal cost controls Congress never really supported, and by changing financial incentives, it holds the faint promise of improving the quality of care for seniors. But it won't fix the long-term problem of how Medicare compensates doctors and is unlikely to control program costs. Show More Summary

Dynamic Scoring Forum: Three Things You Should Know About Dynamic Scoring

The House recently changed the rules of budget scoring: The Congressional Budget Office and the Joint Committee on Taxation will now account for macroeconomic effects when estimating the budget impacts of major legislation. Here are three things you should know as we await the first official dynamic score. 1. Spending and regulations matter, not just taxes […]

Better Ways to Link the Affordable Care Act with Tax Filing Season

The Obama Administration, finally acknowledging the seasonal mismatch between the Affordable Care Act’s open enrollment season and the ACA’s tax-based penalties for failing to have insurance, decided on Friday to create a new special enrollment season for this year only.  The new window will allow those who are subject to the penalty for 2014 ($95 […]

Tax Subsidies May Not Help Start-Ups as Much as Lawmakers Think

Many tax subsidies help new businesses, especially those financed with borrowed money and organized to avoid the corporate income tax . However, large numbers of start-ups may not benefit from this largess, according to a new study by my Tax Center colleagues Joe Rosenberg and Donald Marron.   and those that lose money in their early […]

Do Obama’s Corporate Tax Proposals Add Up?

The tax proposals in President Obama’s 2016 budget combine two interesting ideas for international reform with his often-stated–but still vague– goal of a broad-based corporate tax overhaul. First, the framework: Obama has once again proposed cutting the corporate tax rate to 28 percent from the current 35 percent, with a special 25 percent rate for […]

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. […]

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