Taxes
  • President Donald Trump and House Ways and Means Committee Chairman Kevin Brady smile at each other after the U.S. Congress passed sweeping tax overhaul legislation, on the South Lawn of the White House in Washington

    In Search of the ‘Disappearing Corporate Income Tax’

    By Michael Rainey

    Lawmakers clashed on Tuesday over the performance of the 2017 Tax Cuts and Jobs Act in a House Ways and Means Committee hearing titled “The Disappearing Corporate Income Tax,” with Democrats arguing...

  • Copies of U.S. President Donald Trump's FY2021 budget proposal on display in Capitol Hill in Washington, U.S.

    Trump’s $4.8 Trillion Fiscal Fantasy

    By Yuval Rosenberg and Michael Rainey

    The Trump White House on Monday released a $4.8 trillion budget for 2021 that calls for steep reductions in spending on safety net programs including Medicaid while proposing greater outlays for the...

  • What to Look For in Trump’s 2021 Budget: CBPP

    By Michael Rainey

    President Trump’s agenda for a possible second term is still on the drawing board, according to The Wall Street Journal’s Andrew Restucci, and aides are reportedly in the early stages of drafting...

  • U.S. President Trump delivers State of the Union address at the U.S. Capitol in Washington

    5 Whoppers From Trump’s State of the Union Address

    By Michael Rainey

    President Trump delivered a polarizing, reality-show tinged State of the Union address Tuesday in which he claimed credit for three years of solid economic growth while making more than 30 “dubious...

  • A cyclist passes the U.S. Capitol in Washington

    Fiscal Policy Still Boosting the Economy, but Not For Long

    By Michael Rainey

    Tax and spending policies at the local, state and federal level boosted economic growth in the fourth quarter of 2019, according to the newly updated Hutchins Center Fiscal Impact Measure from the...

  • The Great Debt Debate

    By Michael Rainey

    We told you last week about a new paper from economist Olivier Blanchard that caused a stir by suggesting that government debt may be less problematic than many experts have believed. Blanchard found...

  • Economists: It's Time for a Carbon Tax That Pays Dividends

    By Michael Rainey

    Dozens of prominent economists with extensive experience in government service signed a statement in Thursday’s Wall Street Journal calling for a carbon tax. “Global climate change is a serious...

  • The Apple logo is pictured on the front of a retail store in the Marina neighborhood in San Francisco, California April 23, 2014. The company is set to announce its first quarter earnings. REUTERS/Robert Galbraith  (UNITED STATES - Tags: BUSINESS SCIENCE

    How 4 Big US Companies Used Their Tax Cuts

    By Michael Rainey

    Bloomberg’s Laura Davison looked at what some major American corporations did with the tax cut windfalls they received in 2018. How did Apple, Walt Disney, Visa International and Starbucks use their...

  • A red traffic light stands in front of the U.S. Capitol building in Washington

    Is the ‘Era of Tax Reductions’ Over?

    By Michael Rainey

    If Greg Valliere, chief global strategist at Horizon Investments, is correct, Wall Street should be worried about the rise of Rep. Alexandria Ocasio-Cortez (D-NY). In a note to clients Wednesday,...

  • Democratic congressional candidate Alexandria Ocasio-Cortez speaks at her midterm election night party in New York City

    The Ongoing Fight Over Ocasio-Cortez’s 70% Top Tax Bracket

    By Michael Rainey

    The lively debate over the proposal by Rep. Alexandria Ocasio-Cortez (D-NY) to raise the top marginal tax rate to 70 percent continues, as it no doubt will for many months to come, with former...