62 research outputs found
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Budgetary and Distributional Effects of Adopting the Chained CPI
[Excerpt] This report examines the budgetary and distributional effects of using what is referred to as the Chained Consumer Price Index (C-CPI-U or chained CPI) as the official measure of inflation for adjusting federal revenue and spending programs for inflation.
This report begins by describing general issues with measuring inflation before looking at concerns with the traditional CPI and the chained CPI. The report then examines the budgetary and distributional effects of adopting the chained CPI before offering some concluding observation
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The Effect of Base-Broadening Measures on Labor Supply and Investment: Considerations for Tax Reform
[Excerpt] This report attempts to show how options to broaden the tax base by placing limitations on itemized deductions can potentially work against the expansionary effects of reducing marginal tax rates. After base-broadening tax reform taxpayers may face lower statutory marginal rates but some taxpayers—those who itemize—may have more of their income is subject to tax, effectively increasing their marginal tax rates. The report also addresses other common base-broadening provisions that increase the effective marginal tax rate on the return to capital
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Tax Rates and Economic Growth
[Excerpt] This report summarizes the evidence on the relationship between tax rates and economic growth, referring in a number of cases to more-detailed CRS reports. Potentially negative effects of tax rates on economic growth have been an issue in the debate about whether to increase taxes to address the budget deficit and whether to broaden the base and lower the rates with tax reform. After first distinguishing between short-run counter-cyclical considerations and long-run growth effects, the following section provides some historical data on tax rates and measures of factor supply and growth. This report then reviews the empirical evidence on the major contributors to growth. The final section concludes with a review of dynamic scoring issues
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Overview of the Federal Tax System
The major sources of federal tax revenue are individual income taxes, Social Security and other payroll taxes, corporate income taxes, excise taxes, and estate and gift taxes. This report describes the federal tax structure, provides some statistics on the tax system as a whole, and presents analysis of selected tax concepts
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Business Tax Issues in 2009
This report discusses the tax climate for businesses, while economic stimulus proposals dominate the congressional debate. During 2009, it is anticipated that congressional deliberations will once again turn towards the extension of several expiring business tax provisions, energy taxation, tax shelters, and international taxation, while continuing to examine opportunities to stimulate the economy
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Extending the Temporary Payroll Tax Reduction: A Brief Description and Economic Analysis
This report briefly discusses economic stimulus considerations related to temporary payroll tax reductions. In addition, as the Social Security trust fund is made whole through a transfer from the general fund, select options to offset this increase in the deficit will be examined to illustrate how the choice offsets can affect the net amount of economic stimulus provided
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Tax Cuts on Repatriation Earnings as Economic Stimulus: An Economic Analysis
From the start of the 112th Congress, reform of the current U.S. corporate tax system has been widely debated as an option to stimulate the economy. Most of the debate has focused on lowering the corporate tax rate and moving towards a territorial system. An exception to this is a plan to reduce the tax rate on repatriated dividends that has received some consideration. Under such a plan, the U.S. tax that U.S. firms pay when their overseas operations remit ("repatriate") their foreign earnings as dividends to their U.S. parent corporations would be reduced. Variations of this type of proposal have been introduced in several bills, including H.R. 1036, H.R. 1834, and S. 727, in the 112th Congress
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Methane Capture: Options for Greenhouse Gas Emission Reduction
This report discusses legislative alternatives for addressing methane capture, sources of methane, opportunities and challenges for methane capture, and current federal programs that support methane recovery
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An Overview of Major Tax Proposals in the President's FY2012 Budget
The Obama Administration released the President's FY2012 budget proposal on February 14, 2011. According to the Administration's estimates, the tax proposals in the budget would increase revenues $280 billion over the next 10 years. This report provides a broad overview of the provisions included in the President's FY2012 budget request
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Updated November 6, 2008
This report provides a summary of 2008 farm bill implementation, discusses provisions, and includes a farm bill debate timeline
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