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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Winning the Fight Over Tax Reform

This week, President Trump and his allies in the Senate are ramping up their campaign to reform our nation’s tax code. In Finance Committee hearings and over bipartisan dinners, the talking points are familiar: A White House press release described their tax plan as a way to “unleash America’s economic potential,” and just yesterday, the

The other day, Scott Greenberg of the Tax Foundation claimed that “Tax Rates on the Rich Were Not That Much Higher in the 1950s.” His idea? That despite a statutory top marginal income tax rate of 91% in that era, the rich actually paid a much lower effective tax rate, because they were able to

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Our debate about what is possible in U.S. policy is severely constrained by the assumption that our public resources are scarce and already overspent, meaning we are not capable of the large-scale social investments needed to provide every American with income security and a dignified life. This assumption is misguided and false. Implementing tax policies