Perry Bacon (The New Republic) interviews Bharat Ramamurti on “all this tax news on the Democratic side—big tax plans, federal, state, wealth taxes, tax cuts” (transcript). Ramamurti is a former advisor to Elizabeth Warren and was Deputy Director for the National Economic Council in the Biden Administration.

Ramamurti’s interview covers a lot of ground, with a lot of nuance. The question—as is common in tax—is about the scope of government and its role in private life. Should lawmakers prioritize putting more money in peoples’ pockets, or should they rely more heavily on targeted social programs? Or is this tension a “false argument” in the next political cycle?

More, including links to Democrats’ proposals and other commentary, below the fold.

Perry Bacon, Democrats’ Ambitious, Controversial New Tax Proposals, Right Now with Perry Bacon (mirrored on The New Republic) (Apr. 2, 2026):

[P]eople’s concerns about the economy are not really like, My taxes are a little bit too high. It’s more about the structure of the economy and feeling like, My ability to control my own destiny has eroded over the last 30 or 40 years. What I really want is a feeling of more control, more empowerment—in my workplace, in my life—to live where I want and have the kind of lifestyle that I want. A $1,000 tax cut, while meaningful, is not going to solve that.

Press Release, Booker Announces Keep Your Pay Act (Mar. 9, 2026):

The centerpiece of [Sen. Cory] Booker’s plan is a straightforward idea: the first $75,000 of income would be tax-free for households filing jointly . . . .

Press Release, Van Hollen, Kelly, Gillibrand, Booker, Kim, Beyer Introduce New Bill to Cut Taxes for Millions of Working Americans (Mar. 12, 2026):

According to an analysis by the Institute for Taxation and Economic Policy, nearly 130 million people, including over 25 million children, would receive a tax cut through this legislation. Additionally, it is fully paid for through a tiered surtax on millionaires.

Chris Cioffi, Democrats Go Big on Tax Cuts Ahead of 2028 Presidential Race, Bloomberg Law (Apr. 8, 2026):

“It’s time to stop nibbling around the edges on policy,” said Booker, who ran for president in 2020. The party needs “big bold ideas that voters could quantifiably say, ‘this is going to make my life better.’”

Yale Budget Lab, Senator Booker’s Keep Your Pay Act (Mar. 12, 2026):

One dimension for evaluating a tax policy reform is how it would affect compliance costs, including the time burden of filing taxes. . . .

We find that across all income groups, the average time burden of filing taxes would fall [under Booker’s proposal]. This change is driven almost entirely by the proposal’s expanded standard deduction . . . .

Garrett Watson & Erica York, Details and Analysis of the Van Hollen and Booker Tax Cut Plans, Tax Found. (Mar. 16, 2026):

Both proposals would reduce federal revenue—Booker’s proposal especially—while increasing the progressivity of the tax system. While lower- and middle-income taxpayers would see higher after-tax incomes, higher marginal tax rates on labor and capital would reduce investment, hours worked, and long-run economic output. On net, we estimate both proposals would increase the federal budget deficit and reduce long-run GDP.

Related TaxProf Blog coverage:

• The French Economist Who Helped Invent Elizabeth Warren’s Wealth Tax (Sept. 19, 2029)