This blog post is based off of remarks given at “Wall Street and the Next Recession: Protecting Main Street in the Next Economic Downturn,” an event co-sponsored by Americans for Financial Reform and the Center for Popular Democracy at the US Senate. One thing is certain about markets: they go up and they go down.

Last week, Senator Kamala Harris (D-CA) introduced a sweeping, bold economic policy idea: the LIFT the Middle Class Act. The LIFT (Livable Incomes for Families) Act would essentially be a dramatic expansion of the Earned Income Tax Credit (EITC), making it much larger and available to many more Americans. A few days later, the conservative

FOR IMMEDIATE RELEASE: October 22, 2018 CONTACT: Lauren Strayer, media@voterstudygroup.org (202) 420-7928 Jack D’Amato, media@voterstudygroup.org (404) 995-4500   New Report: Most Americans Skeptical that New Tax Cuts Will Help Them Study also finds that the public at large, including Republican voters, favor tax cuts for the middle class and poor rather than corporations.   Washington,

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Many progressives have rightly criticized the Tax Cuts and Jobs Act (TCJA), also known as the Trump tax law, on the grounds that the TCJA will cost over $1.5 trillion in lost revenue over the next decade, at a time when there is already insufficient revenue being generated to meet our country’s pressing needs. Many others have

During last year’s tax debate, one particularly contentious issue involved the state and local tax deduction, commonly known as the SALT deduction. A mainstay of federal tax policy for decades, the SALT deduction allows individuals to deduct the taxes they pay to states and municipalities—such as property and state income taxes—from their federal taxes. While

Submitted testimony from Lenore Palladino, Senior Economist and Policy Counsel, Roosevelt Institute March 15, 2018   Dear Senator Martin, Senator Winfield, Representative Lesser and Members of the Banking Committee: My name is Lenore Palladino. I am a Senior Economist and Policy Counsel at the Roosevelt Institute. Thank you for the opportunity to testify before you

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Roosevelt Institute Program Manager Eric Harris Bernstein was featured on the November 20th episode of Reality Check on WURD Radio, hosted by Charles Ellison. Listen to the segment on the Tax Cuts and Jobs Act, where they discuss details about the bill, its impact on higher education, and how it would hurt middle and working

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The enormous tax legislation currently moving through the Senate at breakneck speed has already been analyzed by several official and nonpartisan experts and every single analysis has shown the same thing: the biggest tax cuts go to the wealthy and corporations, and many middle-income and lower-income families would pay more in taxes than they do

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With all the discussion on Trump’s tax plan, you could be forgiven for thinking the current tax code is a good tax system. Today’s tax system creates a disproportionate concentration of wealth in the corporate and financial sectors, while leaving revenue on the table that could be put to productive use. In a recent paper,

Today, President Trump unveiled new details about the tax reform plan that have been hashed out in secret for months by the so-called Gang of Six. As reporters and policy experts run numbers about who wins and who loses (spoiler alert: Mnuchin, Trump, and Cohn win, America loses), let’s take a step back at the

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