News
CNN Money | Key senator promises tax reform plan
Calling the U.S. tax code the "worst of all worlds," Sen. Max Baucus said Monday he is working on a detailed tax reform proposal that he promised would draw bipartisan support.
FOX News | US states forecast highest tax revenue in 5 years
U.S. states expect to collect higher tax revenues in the coming budget year that combined would top pre-recession levels, according to a survey. The increase could reduce pressure on states to cut budgets and lay off workers.
National Journal | Baucus Offers No Specifics on Tax Reform
The chairman of the Senate Finance Committee urged Congress on Monday to avoid "divisive" votes on tax issues before the November elections in order to preserve room for compromise on a batch of tax-related measures before the end of the year. But he offered no specifics on his ideas for overhauling the tax code.
Econ Comments & Analysis
AEI | The capital gains preference: Imperfect, but useful
As prescribed by section 1(h), the maximum rate on long-term capital gains is 15 percent. Since 2003, qualified dividends have enjoyed the same preferential rate. Starting in 2013, the maximum tax rate on long-term capital gains is slated to rise to 20 percent and qualified dividends are to become subject to ordinary income tax rates.
Blogs
Heritage Foundation | Even Wind Executive Doesn’t Want Wind Tax Credit
The expiration of the production tax credit (PTC) for wind and other renewable energy sources is the subject of intense debate. Some see the credit as a tool for creating jobs and battling global warming. Others see it as an expensive, market-distorting device that rewards inefficiency and punishes competitiveness.
