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Biden Could Provide Business and Household Relief by Eliminating Trump Tariffs

One of President Donald Trump’s signature policy actions has been to engage in a tit-for-tat tariff war with America’s trading partners, and one of the big questions is what President-elect Joe Biden will do about that. First, a brief review of where things stand. Relying on rarely used sections of trade law, President Trump used […]

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Prospects for Federal Tax Policy After the 2020 Election

As Americans receive more clarity on the outcome of the 2020 presidential and congressional elections, the prospects for federal tax policy headed into 2021 are also becoming clearer. A Biden administration may have to work with a Republican Senate majority (pending the results of runoff elections in Georgia) and a Democrat-controlled House to navigate various […]

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Biden’s Call for More Tax Credits Further Complicates the Tax Code

Over the course of the 2020 presidential election campaign, Democratic nominee Joe Biden has proposed new tax credits for health insurance, child care, elderly care, and homeownership, in addition to expansions of the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC). These proposals increase spending through the tax code and amplify the redundancy, […]

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Details and Analysis of Democratic Presidential Nominee Joe Biden’s Tax Plan

October 2020 Update: Since our September analysis of the Biden plan, we have included the campaign proposal to expand the estate and gift tax by reducing the exemption amount to $3.5 million and increasing the top rate for the estate tax to 45 percent, which has impacted our economic, revenue, and distributional estimates. We have also […]

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Biden-Harris Proposals Can Raise Taxes on the Middle Class

Democratic presidential nominee Joe Biden and running mate Kamala Harris have said that, if elected, their administration would not raise taxes on anyone who makes less than $400,000 annually. We and other analysts from across the political spectrum concluded that the tax increases proposed by the Biden-Harris campaign, which include higher corporate and individual income […]

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How Should Wealth and Work Be Treated in the Tax Code?

Late last week, Democratic presidential candidate Joe Biden released a piece reviewing his tax proposals, contrasting them with President Donald Trump’s tax ideas. A major theme within this piece can be summarized in the title: “A Tale of Two Tax Policies: Trump Rewards Wealth, Biden Rewards Work.” Biden raises an important question regarding how work […]

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Biden’s Plan to Address Offshoring Comes with Contradictions

Today, the Biden campaign is set to release its plans for changing U.S. cross-border tax rules. It includes several proposals with the shared goal of increasing taxes on U.S. multinational companies and attracting new investment to the U.S, although there is a tension between those goals. The campaign’s proposals for higher taxes on U.S. businesses […]

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Biden’s Proposal Would Shift the Distribution of Retirement Tax Benefits

Among Democratic presidential nominee Joe Biden’s many tax proposals, one that has gotten less attention would modify how traditional retirement accounts are treated in the tax code. This proposal would shift some of the benefits of tax deferral in traditional retirement accounts toward lower- and middle-income earners with the goal of encouraging additional saving by […]

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Reviewing Joe Biden’s Tax Vision

Tonight, former Vice President Joe Biden formally accepts the Democratic nomination for President, ending a long primary season that saw competing policy visions from the many candidates, including in tax policy. However, questions about Biden’s tax proposals, such as when and how fast he would push for tax hikes, remain to be clarified headed into […]