Former President Trump’s proposal to repeal the $10,000 cap on the state and local tax (SALT) deduction would cut 2025 taxes by an average ...

IRS names new head of the Independent Office of Appeals. The agency selected Elizabeth Askey to serve in the role. She’ll set strategy and oversee operations of the office, which helps to resolve ...

A grand bargain that acknowledges tradeoffs is the way out of the nation’s fiscal crisis. TPC’s Gene Steuerle reviews the efforts of the Peter G. Peterson Foundation and the Center for Collaborative ...

Trillions of dollars of unrealized capital gains permanently escape taxation, disproportionately benefitting the richest ...

Only a handful of all employees and fewer than 60 percent of tipped workers would benefit from proposals to exempt gratuities ...

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2025, of an option to exclude reported tips ...

Campaigns and political party platforms provide limited policy details. That’s by design: especially in a campaign, politicians tend to accentuate what they will do ...

Spending bill fails in the House. Speaker Mike Johnson (R-LA) brought a short-term spending bill to the floor yesterday, but it failed to secure the votes needed for passage. Funding for the federal ...

The Inflation Reduction Act (IRA) of 2022 enacted an $80 billion 10-year investment in the Internal Revenue Service on top of the agency’s regular annual appropriations. Although Congress cut the IRA ...

The fate of a government agency’s funding is always precarious—and especially so for the Internal Revenue Service, one of the most unpopular federal agencies ...

Negotiations are underway to fund the government after Oct. 1.

Donald Trump would exempt overtime pay from tax. Kamala Harris and Trump both agree that tips should be exempt. There are lots of tax exclusions in the tax code, but this form of tax subsidy is ...