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Kevin Brady: Tax reform could increase deficit

August 18, 2017
Neon Dollar bill sign photo by Jimi Filipovski via Unsplash

From The Hill: “GOP chairman: Tax reform could increase deficit.” The Republican tax reform plan could blow a hole in the nation’s deficit for several years, House Ways and Means Committee Chairman Kevin Brady (R-Texas) said Wednesday. β€œWe will be open to losing tax revenues in these early years,” Brady said at an event on tax reform at former President Reagan’s ranch in Santa Barbara, Calif. Any such…

Daily

Tax cuts and economic growth

July 31, 2017
Photo of construction in Toronto by Filip Mroz on Unsplash

From Dealbook: “Do Tax Cuts Really Spur Growth? It Depends on the Details.” TL:DR β€” It’s a mixed-bag. “At the core of decades of Republican economic policy is a simple idea: Cutting taxes will unleash investments and lead to higher incomes, more jobs and more rapid growth. And there are historical episodes that would seem to support that idea, most notably when Ronald Reagan cut taxes in the…

Daily Politics

Bipartisan beer caucus hops into tax reform debate

July 20, 2017
Beer toss photo by Wil Stewart on Unsplash.

From The Hill: “Bipartisan beer caucus hops into debate over tax reform.” A surprising cause might play a role in bipartisan tax reform later this year: beer. Members of both parties are expressing support for craft brewing, with a caucus even forming in the House to champion it. The House Small Brewers Caucus has 225 members, more than half of the chamber, making it the largest bipartisan caucus…

Daily State Tax

State tax deductions and the Alternative Minimum Tax

June 22, 2017
Photo of 20 dollars by Vitaly, Sand City, United States - via Unsplash

From Frank Sammartino at the Tax Policy Center: “The Complex Relationship Between The State And Local Tax Deduction And The Alternative Minimum Tax.” “The House Republican leadership and the Trump Administration want to repeal the state and local tax (SALT) deduction and the individual Alternative Minimum Tax (AMT). But as policymakers consider the combined proposal, they should be careful about the sometimes-surprising ways they interact with one another.…

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Economists react to Trump’s tax plan

June 20, 2017
Photo: The White House by Srikanta H. U via Unsplash

From The New York Times: “Trump Tax Plan Will Not Bolster Growth, Economists Say.” President Trump says the perfect medicine for the economy’s sluggish growth is a big tax cut. Mr. Trump and his advisers say that leaving more money in the hands of businesses and consumers will lead to more spending and investment, lifting economic growth, which has been stuck in a 2-percent-a-year rut. But a range…