Federal Budget and Taxes

Tax Freedom Day? Not Really.

Every year the Tax Foundation, a conservative think tank, releases a report about “Tax Freedom Day,” a made-up day of the year that indicates when the nation as a whole has earned enough money to pay this year’s federal, state, and local taxes. This year, the report says, Tax Freedom Day falls on April 16, 2019.

A New Proposal Would Give a Much-Needed Boost to Pennsylvania’s Working Families

Senator Bob Casey today joined Senators Sherrod Brown, Michael Bennet, Dick Durbin, and Ron Wyden to introduce the Working Families Tax Relief Act (WFTRA), legislation that would begin to fix our tax laws to help working people with low-wage jobs make ends meet as they work to support themselves and their families. The proposal would strengthen the highly successful Earned Income Tax Credit (EITC) for working families with children and working people without children at home, ensure that millions of poor children aren’t left out of the Child Tax Credit (CTC), and boost the CTC for families with very young children. A summary of key provisions of the WFTRA is included below.

ANALYSIS: One Year Later, the Tax Cut and [Con] Jobs Act

December 17th marked the one-year anniversary of President Trump’s “Tax Cut and Jobs Act.” While we knew the impact of this legislation would mean more money shifting upwards into the hands of the already wealthy and large corporations, we have new data, thanks to the Americans for Tax Fairness, corroborating that reality.

Tax Cuts and Jobs Act Will Supercharge Racial Wealth Divide, Finds First-Time Analysis

Pennsylvanians, even more than other Americans, strongly support fair taxation—because Pennsylvania’s tax system is one of the most unfair in the nation, taxing middle- and low-income families at much higher rates than the richest 1%. Yet when Congress passed huge tax cuts on a party line vote last year, it made the U.S.

Rep. Fitzpatrick Made the Right Choice On SNAP Cuts; Unfortunately Rep. Costello Did Not

Last week, the House of Representatives voted against the troubling Farm Bill that had recently passed through the Agricultural Committee. This version of the bill would have resulted in many Pennsylvanians losing access to SNAP, otherwise known as food stamps, which is often the last defense against hunger in our communities. The proposed House Farm Bill would cut SNAP benefits by nearly $19 million and take away food assistance from two million Americans who already struggle to make ends meet. It would particularly hurt families, children and the disabled by implementing strict and ineffective work programs, as well as unforgiving reporting rules, that would lead to people losing this critical benefit.

The Trump Tax Bill Wasn't For You

It’s Tax Day 2018, and you know what that means?  The country’s wealthiest Americans are about to experience long-term gains from the Tax Cuts and Jobs Act.  The Pennsylvania Budget and Policy Center is concerned about the effects of the tax cut law and legislation that would make temporary tax cuts permenant after 2025.  A new report from the Institute of Taxation and Economic Policy shows that the top 1% will receive more federal tax dollars than the bottom 60% in 47 states, and the top 20% will gobble up the

Don’t be Fooled: The Extension of the Trump Tax Bill Primarily Benefits the Rich, Just Like the Original Law Does

Tax day is around the corner and many Pennsylvanians are busy gathering their W-2s, 1099s and other financial documents to submit their taxes for 2017. Meanwhile some Congressional leaders are making the case to extend temporary provisions to the Tax Cuts and Jobs Act (TCJA), which will expire after 2025. Republicans pushing for this legislation are spinning it as making permanent the benefits to the middle class. But, don’t be fooled.

A new report from the Institute on Taxation and Economic Policy documents how the extension of these so-called “middle class tax cuts” will continue to primarily benefit the richest Americans and will leave the poorest 20% paying higher taxes on average in 2026 than if the bill was never enacted.

The Unnecessary Federal Budget Impasse

Let’s be straight about the politics of the federal budget. The Republicans control the House, Senate and Presidency, but partly because they are not united and partly because they are short of the 60 votes needed under current practices to move most legislation in the Senate, they are unable to pass a budget without Democratic support. So to pass a full-year budget, Republicans and Democrats must compromise.

The federal government is shut down today because too many Republicans in Congress won’t compromise and because President Trump doesn’t appear to know what he really wants.

A Temporary Setback on the Way to a Just America

The Trump-GOP tax cut bill, which passed the House on a party-line vote with twelve Republicans voting against this afternoon and is likely to pass the Senate tonight, reminds us that history does not move in a straight line. There are moments, like this one, in which America takes a step away from its promise of equality and justice for all.

It redistributes from working people and the middle class to the rich. And that's just wrong.

With all the controversy over the details of the tax cut bill that is moving towards a final vote in the House and Senate this week it is easy to forget about the basic features of the bill. 

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