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Categories: Taxes
Webinar | | 2014

Building Assets Through the Tax Code

This webinar explores ways to expand the financial security of low- and moderate-income families through reform of the U.S. tax code. The conversation featured presentations from stakeholders deeply engaged in advancing a range of tax policy solutions, with a particular focus on the policy agenda emerging from the Tax Policy Advisory Group of the Asset Funders Network/Tax Policy Project.

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Categories: Taxes
Presentation | PolicyLink, CFED, Assets Funder Network | 2014

PowerPoint: Who Benefits from Federal Tax Subsidies

A national discussion is underway about the causes and effects of income and wealth inequality, including recent attention to the role of the U.S. tax code. The federal tax code contains more than $1 trillion in tax subsidies known to policymakers and economists as “tax expenditures” because they are a form of spending through the tax code. Of these subsidies, more than half a trillion, $540...

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Categories: Taxes
Congressional Budget Office | 2013

The Distribution of Major Tax Expenditures in the Individual Income Tax System

A number of exclusions, deductions, preferential rates, and credits in the federal tax system cause revenues to be much lower than they would be otherwise for any given structure of tax rates. Some of those provisions—in both the individual and corporate income tax systems—are termed “tax expenditures” because they resemble federal spending by providing financial assistance to specific...

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Categories: Taxes
Center for American Progress | 2013

The Universal Savings Credit

We propose to vastly simplify existing savings incentives by turning all existing deductions into one single tax credit—the Universal Savings Credit. With this credit, people would receive a flat percent of their contributions to a predetermined savings account, regardless of their income and how much money they owe in federal income taxes. People can use the savings that they accumulate with...

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Categories: Taxes
Center for American Progress | 2013

Reforming Our Tax System, Reducing the Deficit

Over the next 10 years, our tax reform would put us on a stronger fiscal footing by raising $1.8 trillion and, by the end of the decade, matching
the overall levels of revenue proposed by fiscal commission co-chairs Alan Simpson and Erskine Bowles as part of their bipartisan deficit reduction plan. Though these proposed revenue levels will likely be insufficient for the country’s long-term...

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Categories: Taxes
Policy Brief | Center for American Progress | 2013

Competing Approaches to Tax Reform

As Americans across the country filed their tax returns over the past few months, two competing approaches to improving our federal tax code have emerged. One approach is to offer specific proposals to reform, eliminate, or otherwise cut back on the unfair and inefficient tax breaks—known as tax expenditures—that clutter the current code. The other approach is to offer specific proposals to...

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Categories: Taxes
National Women's Law Center, Americans for Tax Fairness | 2013

The High Price of Tax Loopholes

In this brief report, short, straight lines have been drawn between taxes and the public services they pay for. It provides a few examples of how we can avoid painful and destructive cuts to services our families and communities depend on, and have money left over to make bold new investments that would rebuild our economy and create jobs — if we require big corporations and the very wealthy...

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Categories: Taxes
Policy Brief | Center on Budget and Policy Priorities | 2013

Strengthening the EITC for Childless Workers Would Promote Work and Reduce Poverty

Providing a more adequate EITC to low-income childless workers and lowering the eligibility age would have several important benefits beyond raising these workers’ incomes and helping offset their federal taxes. Some leading experts believe that an expanded credit would help address some of the challenges that less-educated young people (particularly young African American men)...

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Categories: Taxes
Policy Brief | Center on Budget and Policy Priorities | 2013

The Problem With Deficit-Neutral Tax Reform

Given the nation’s long-term fiscal pressures, increases in revenues need to make a significant contribution to deficit reduction, alongside reductions in spending for mandatory programs. Deficit-neutral tax reform would, as a result, be highly problematic.

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Categories: Taxes
Pepperdine Law Review | 2013

The 535 Report: A Pathway to Fundamental Tax Reform

 Ignored in the discussion of extending Bush tax cuts was whether a continuation of current  law would be good for taxpayers based upon their race and/or ethnicity. Current law reflects congressional choices about whether income will be taxed and at what rate, and whether something just paid for is deductible. This Essay shows that most taxpayers of color and most whites do not get the benefit...

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Categories: Taxes
Joint Committee on Taxation | 2013

REPORT TO THE HOUSE COMMITTEE ON WAYS AND MEANS ON PRESENT LAW AND SUGGESTIONS FOR REFORM SUBMITTED TO THE TAX REFORM WORKING GROUPS

This document,  prepared by the staff of the Joint Committee on Taxation , provides an overview of the Internal Revenue Code as in effect for 2013 and provides a more detailed description of the Code provisions relevant to the topic area of each working group. The document also summarizes the suggestions for reform and other commentary submitted by the public to the various working groups...

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Categories: Taxes
Center on Budget and Policy Priorities | 2012

Renter's Tax Credit Would Promote Equity and Advance Balanced Housing Policy

A renters’ tax credit would complement the existing Low-Income Housing Tax Credit (which subsidizes development of affordable housing but is rarely sufficient on its own to push rents down to levels poor families can pay), and rental assistance programs such as Section 8 vouchers (which are highly effective but meet only a modest share of the need).

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