Tax Policy Center 2016 Election Blog

Rubio Detailed Tables and Analysis

Tax Policy Center

Distributional estimates of Senator Marco Rubio’s tax plan.

Rubio’s Ambitious Consumption Tax Would Reduce Revenue by $6.8 Trillion

Senator Marco Rubio would convert the income tax into a progressive consumption tax, an ambitious idea that would eliminate the income tax’s penalty on saving. However, a new Tax Policy Center analysis finds that Rubio’s version would slash federal tax revenues by $6.8 trillion over the next decade with most of the benefits going to high-income households. Unless Rubio offsets those revenue losses with big spending cuts, he’d lose most if not all of the economic benefit of his plan.

January 21st, 2016

What Are the Consequences of a Financial Transactions Tax?

January 21st, 2016

All three Democratic presidential hopefuls, Hillary Clinton, Martin O’Malley, and Bernie Sanders, have proposed financial transactions taxes (FTTs). But could such a levy raise much money and reduce financial sector risk, as their supporters hope? Perhaps, according to a report by my Tax Policy Center colleagues. But if not carefully designed, the tax could do more harm than good to the financial markets and raise much less revenue than proponents hope.

Analysis

Bush cut Florida taxes, but mostly for high-income residents

As part of his presidential campaign, Jeb Bush has proposed a detailed plan for federal tax cuts. The Tax Policy Center’s analysis of his plan is available here. As governor of Florida from 1999 to 2007, Bush signed into law a number of different tax cuts—from relatively small sales tax holidays to the complete elimination […]

January 19th, 2016

Bernie Sanders Is Proposing Really Big Tax Increases

January 19th, 2016

It is hard to grasp the enormity of the tax increases Bernie Sanders is proposing, how far out-of-step he is with recent economic history in the U.S., and what a stunning contrast he presents with Republican presidential hopefuls. Where Sanders backs tax increases of more than $1 trillion a year aimed mostly at high income households, GOP candidates are proposing massive tax cuts that would largely benefit those same taxpayers.

January 13th, 2016

Clinton and Sanders Face Off Over Who Should Pay for New Social Programs

January 13th, 2016

Hillary Clinton and Bernie Sanders both want to create ambitious new government programs to help middle-income families with medical and education costs and family leave. Both say they’d pay for those initiatives by raising taxes. But there is an important difference between them: Clinton would finance her ideas by boosting taxes only on high-income households while Sanders believes that middle-income families also should pay some higher taxes to finance his plans.

December 30th, 2015

What you can learn about the tax policies of governors running for president

December 30th, 2015

My Tax Policy Center colleague Harvey Galper recently explained why it is important to pay attention to the tax proposals of presidential candidates. While the plans do not always turn into law (at least not exactly as proposed) the ideas tell us a lot about a candidate’s priorities.

Analysis

O’Malley made Maryland’s income tax more progressive, but he also hiked regressive taxes

Maryland’s taxes looked very different after Martin O’Malley’s eight years as governor. Income tax changes made the state’s tax system more progressive, but sales tax increases moved things the other way. While O’Malley has not yet released a formal tax plan as a presidential candidate, we know he made several tax changes as governor. When […]

Analysis

Christie cut taxes but mostly vetoed tax increases in New Jersey

New Jersey Governor Chris Christie says he would significantly cut tax rates if he were elected president. Among other changes, he would lower the top federal individual income tax rate from 39.6 percent to 28 percent and the top corporate rate from 35 percent to 25 percent. While Christie was not able to enact as […]