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...

  • A homeless woman sits on a bench few blocks away from the White House in downtown Washington

    Chart of the Day: Record Low Poverty Rate

    By Michael Rainey

    The extensive array of government assistance programs — including Social Security, unemployment insurance, veterans’ benefits, nutritional aid, rental assistance and the Earned Income Tax Credit —...

  • Public Investment Is the Key to Avoiding Economic Stagnation: Report

    By Michael Rainey

    Economic stagnation on a global scale is a growing threat, according to a new report from the Organization for Economic Co-operation and Development (OECD). The group’s November economic outlook...

  • FILE PHOTO: Democratic presidential candidate Senator Elizabeth Warren speaks during the fourth U.S. Democratic presidential candidates 2020 election debate at Otterbein University in Westerville, Ohio U.S.

    Pushing Back Against the Wealth Tax at the Dem Debate

    By Michael Rainey

    Sen. Elizabeth Warren defended her proposed wealth tax at the Democratic presidential debate on Wednesday night: “I’m tired of freeloading billionaires,” Warren said . “I think it's time that we ask...

  • Social Security and Medicare taxes

    Democrat's New Taxes Wouldn't Hit Just Billionaires

    By Michael Rainey

    Some Democratic tax proposals are focused on making millionaires and billionaires pay more, but other households would be affected as well. Neil Irwin of The New York Times points out Tuesday that...

  • A security camera hangs near a corner of the Internal Revenue Service (IRS) building in Washington

    An Easy Way to Get $1 Trillion More in Tax Revenue?

    By Michael Rainey

    The first step in reforming the U.S. tax system doesn’t involve raising rates or eliminating deductions, say former Treasury Secretary Lawrence Summers and Penn Law professor Natasha Sarin. Instead,...