2025 Tax Brackets
Explore the IRS inflation-adjusted 2025 tax brackets, for which taxpayers will file tax returns in early 2026.
4 min read
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How the TCJA Affected Legal Business Forms
The Tax Cuts and Jobs Act (TCJA) significantly lowered the effective tax rates on business income, but the impact was not the same for C corporations and pass-through businesses.
6 min read
Options for Navigating the 2025 Tax Cuts and Jobs Act Expirations
Policymakers should have two priorities in the upcoming economic policy debates: a larger economy and fiscal responsibility. Principled, pro-growth tax policy can help accomplish both.
21 min read
Why Are the Individual Tax Cuts Expiring?
The TCJA improved the U.S. tax code, but the meandering voyage of its passing and the compromises made to get it into law show the challenges of the legislative process.
6 min read
2024 Tax Brackets
Explore the IRS inflation-adjusted 2024 tax brackets, for which taxpayers will file tax returns in early 2025.
4 min read
Changing Tax Policy Landscape Will Worsen U.S. Competitiveness
Policymakers on Capitol Hill should prioritize permanent pro-growth policy in the coming years as the economy struggles with inflation and the recovery from the pandemic.
4 min read
2023 Tax Brackets
The IRS recently released the new inflation adjusted 2023 tax brackets and rates. Explore updated credits, deductions, and exemptions, including the standard deduction & personal exemption, Alternative Minimum Tax (AMT), Earned Income Tax Credit (EITC), Child Tax Credit (CTC), capital gains brackets, qualified business income deduction (199A), and the annual exclusion for gifts.
4 min read
Reviewing Wyden’s Reconciliation Tax Policy Proposals
Congressional lawmakers are putting together a reconciliation bill to enact much of President Biden’s Build Back Better agenda. Many lawmakers including Senate Finance Committee Chair Ron Wyden (D-OR), however, want to make their own mark on the legislation.
5 min read
Don’t Add More Temporary Tax Policies in Budget Reconciliation
Temporary policy creates uncertainty for taxpayers and scheduling more expirations will add to the already-expiring provisions under the Tax Cuts and Jobs Act (TCJA) of 2017.
3 min read
Analysis of Sen. Wyden’s Pass-through Deduction Proposal
Sen. Wyden recently introduced the Small Business Tax Fairness Act—the impact of which we modeled—to reform the Section 199A pass-through business deduction created in the Tax Cuts and Jobs Act (TCJA) of 2017. The provision currently allows taxpayers to deduct up to 20 percent of their qualified business income from their taxable income, subject to certain limitations.
2 min read
New Research Finds Limited Effects on Taxpayer Behavior from Pass-through Deduction
While proponents of the Section 199A pass-through deduction claimed it would boost investment and critics claimed it would encourage tax avoidance and income shifting, new research casts doubt on both claims.
3 min read
A Carbon Tax to Make the TCJA’s Individual Provisions Permanent
Making the Tax Cuts and Jobs Act’s individual provisions permanent combined with a carbon tax can be a revenue-neutral trade and increase the long-run size of the economy by 1 percent, making it a sustainable pro-growth option.
23 min read
Reviewing Joe Biden’s Tax Vision
Biden’s tax vision is twofold: higher taxes on high-income earners and businesses paired with more generous provisions for specific activities and households.
4 min read
Analysis of Democratic Presidential Candidate Individual Income Tax Proposals
Joe Biden and Bernie Sanders have each proposed changes to the individual income tax, one of the largest sources of federal revenue. Our new analysis compares the economic, revenue, and distributional effects of the various proposals.
13 min read
Reviewing the Tax Changes in Senator Bennet’s Real Deal
The “Real Deal” would increase the tax burden on saving, investing, and working in the United States, and reduce the global competitiveness of the U.S. economy.
3 min read