The measure enables broad tax cuts that disproportionately favor wealthy households while forcing its costs on the most economically vulnerable Americans.
Articles on Trump tax plan
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The Republican tax bill is set to worsen inequality, government data shows. It’s part of a 50-year trend that’s affecting the social fabric as well as the economy.
The OMB is like the government’s central nervous system – it, and its director, are at the center of pretty much everything.
In 2025, Congress will need to decide whether to extend the higher standard deduction, which has been in place since 2018.
The charitable deduction vanished for the 30 million taxpayers who stopped itemizing in 2018, the year the tax changes took effect.
Researchers who analyzed a decade of data detected a reduction in giving after millions of Americans stopped getting a tax break tied to charitable giving.
Sen. Warren said the filibuster stands in the way of gun reform. It does, and so much more.
Real tax reform is about more than cutting taxes to woo voters. It’s about making the system fairer.
The US economy has rarely looked stronger, but it could all come crashing down just in time for the next presidential election.
Congress changed the tax system to benefit companies with overseas operations but failed to help Americans actually living abroad, who still face punitive taxation.
Research on the impact of corporate tax cuts reaches different conclusions, depending on the time and place it looks at.
Companies like Uber and Etsy don’t have to tell most of the people working with them how much they’ve earned. With the federal government so behind the curve, some states are changing their rules.
Income inequality, the most common way to measure the gap between the rich and the poor, only tells part of the story. Wealth inequality tells the rest.
The billionaires, business leaders and other elites who gathered in Davos praised the president’s policies, yet research on the politics of economic growth suggests it’s too soon to celebrate.
Research shows there is a link between tax cuts and increased business investment, but the effect is likely smaller than politicians and businesspeople say.
Acquiring companies that don’t complement the main business went out of fashion more than a decade ago.
New York, California and other high-tax states are angling to use the charitable deduction and state payroll taxes as workarounds to shield both their residents and their revenue.
Historically, wishful thinking has blunted pushback.
The American middle class has been on a rocky ride during the 20th century, surging after World War II but falling since the 1980s. The Republican tax plan may be its death knell.
Unlike other age groups, 16- to 24-year-olds haven’t recovered the job losses they suffered during the Great Recession. Spurring investment and growth are key to getting them back to work.
Top contributors
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Associate Professor of Accounting, Boston College
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Part-Time Professor of Economics, The New School
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Assistant Professor of Law, University of Chicago
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Lecturer in Public Policy, University of Michigan
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Professor of Politics, University of California, Santa Cruz
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Glenn Family Chair Emeritus of Economics and Philanthropic Studies, Indiana University
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Professor Emeritus, Economics & Finance, University of Houston-Clear Lake
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Sr. Professorial Lecturer & Managing Director of Kogod Tax Policy Center, Department of Accounting and Taxation, American University Kogod School of Business
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Executive in Residence, American University School of Public Affairs
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Venable Professor of Law, University of Baltimore
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Director of the Center for Human Resource Research, The Ohio State University
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Professor of Public Policy and Public Affairs, UMass Boston
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Professor of International Business, Griffith University
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Associate Professor of Political Science, Georgia State University
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Professor of International Political Economy, University of California, Santa Barbara