How a Tax Cut Turns Into a Tax Increase

(This post has been updated with small changes — see below for description.)

House Republicans have put forward a plan to fundamentally revamp the tax code and provide large tax breaks to the highest income Americans through rate cuts…

The Senate Bill Really Is Regressive

(Or Why You Shouldn’t Use Percent Change in Tax Liabilities!)

Last night, the Joint Committee on Taxation released new distributional tables showing the effects of the newly introduced Senate tax legislation across the population. Upon the…

Is There a Gaping Hole for the Best Off in the House Bill’s Limitation on the Deduction for State and Local Income Taxes?

The House bill’s limitation on the deduction for state and local income taxes has generated plenty of commentary and…

Trade-Offs Made Clear in the Senate Bill

Last night, Chairman Hatch introduced a new version of the Senate tax overhaul bill. Since the bill is being pushed through using reconciliation procedures to avoid the filibuster, the bill is not allowed to add to the deficit after the end of the budget…

Fixing the Loophole in the House Limit on Deductibility of State and Local Income Taxes

This post reflects joint analysis by Mitchell Kane, Daniel Shaviro, John Steines, and me. All of us are Professors of Law at New York University School of Law. Thanks also to…