Federal Tax

With fewer than 10 days until government funding runs out, congressional lawmakers are down to the wire to fund the government and provide additional pandemic-related relief to the households and businesses trying to make it through the winter. This week, both Senate Majority Leader Mitch McConnell (R-KY) and a bipartisan group of lawmakers released new
0 Comments
The 116th Congress has few legislative days remaining in the lame duck session to address a relatively long list of priorities, including additional pandemic relief, expiring tax provisions, and economic stimulus. Whether this Congress will accomplish the remaining tasks is highly uncertain, leaving the next Congress and President-elect Joe Biden to likely start the new
0 Comments
Last December, when Joe Biden released the details of his $3 trillion+ tax plan, The Washington Post reported that the presidential candidate rejected calls for a new “wealth” tax on millionaires and billionaires. That was then, this is now. Biden may have rejected a Bernie Sanders-style wealth tax, but as the Tax Foundation’s updated analysis
0 Comments
Was this page helpful to you? Thank You! The Tax Foundation works hard to provide insightful tax policy analysis. Our work depends on support from members of the public like you. Would you consider contributing to our work? Contribute to the Tax Foundation Share This Article! Let us know how we can better serve you!
0 Comments
Democratic presidential nominee Joe Biden and running mate Kamala Harris have said that, if elected, their administration would not raise taxes on anyone who makes less than $400,000 annually. We and other analysts from across the political spectrum concluded that the tax increases proposed by the Biden-Harris campaign, which include higher corporate and individual income
0 Comments
Last week, Congressman Kevin Brady (R-TX) and U.S. House Minority Leader Kevin McCarthy (R-CA) introduced H.R. 11, the Commitment to American GROWTH Act, outlining an alternative to Democratic presidential nominee Joe Biden’s tax vision. The proposal would address upcoming expirations of the 2017 Tax Cuts and Jobs Act (TCJA) and create or expand other tax
0 Comments