Tax Policy & Budget

Robert Greenstein identifies priorities for expanding the Child Tax Credit. Pulling from research on the credit's impact, he urges strengthening the CTC for low-income children as much as possible.

Significant proposed changes to tax policy would bring the US system more in line with the new consensus on international corporate tax policy. These six economic facts present background on motivations and goals for many of the features of the international framework.

The COVID-19 pandemic poses an existential threat to small businesses, with more than 400,000 lost since the crisis began. Many small businesses are financially fragile and not equipped to weather a prolonged period of substantially reduced revenues. In this proposal, Steven Hamilton of The George Washington University calls for a significant expansion of refundable tax credits to help support small businesses through this crisis.

Taxation is an enduring focus of economic policy debates. This book presents a series of policy options, authored by leading tax experts and backed by rigorous analysis, to increase federal revenue in ways that are both efficient and equitable. The policies include better tax enforcement, improved, corporate taxation, increased taxation of wealth, and taxes on some transactions. 

How the government raises tax revenue has critical implications for economic prosperity. Moss, Nunn, and Shambaugh provide a framework for assessing various tax policies and their implications for growth and inequality.

One driver of high inequality and low intergenerational mobility is the inefficient and inequitable way that inheritances are currently taxed. In this proposal, Lily Batchelder describes reforms that would raise revenue and put inherited income on a more level playing field with income earned from work.