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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

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General Tax Policy

Strengthening The Federal-State-Local Partnership In Recession And Recovery

On January 15, I testified before the House Budget Committee on how to strengthen the federal-state-local government partnership. I urged Congress to revise funding formulas......

State And Local Governments Have A Role To Play In Reducing The Wealth Gap

Every Democratic candidate for president has a plan to address growing inequality in America (on January 16, the Tax Policy Center sponsored a program on......

An Investigation into Treasury

Treasury’s Inspector General’s office will investigate TCJA’s Opportunity Zones....

Signed, Sealed, To Be Delivered

President Trump signed a partial trade deal with China....

Would Wealth Taxes Solve Wealth Inequality?

Democracies become oligarchies when wealth is too concentrated. So begins a letter by Berkeley economists Emmanuel Saez and Gabriel Zucman about presidential candidate Bernie Sanders’......

The Federal Budget, a SALT Workaround for Pass-throughs

In case you missed it, the US budget deficit is up again....

Reforming a Tax Expenditure, Disproportionate Harm

More budget blues for the IRS....

Budget Blues For Tax Administration

The fiscal 2020 budget signed into law December 20 is a big disappointment for tax administration, continuing the over 20 percent inflation-adjusted decline in IRS......

Popular Support for Taxing Wealth (in Theory)

Reuters/Ipsos Poll: Majority of Americans support higher taxes on the wealthy....

Repealing the ACA’s Excise Taxes Benefits Middle- and Upper-Middle Income Households More than Other Groups

In its end-of-2019 budget agreement, Congress repealed three sizeable excise taxes included in the 2010 Affordable Care Act (ACA): a tax on high-cost employer-provided health......

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