Paul L. Caron
Dean
Pepperdine Caruso
School of Law
Congressional News
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Plans To Hike The College Endowment Tax Are Not What You’d Expect
Chronicle of Higher Education, Plans to Hike the College-Endowment Tax Are Taking Shape. They’re Not What You’d Expect.: Amid the deluge of executive orders, budget slashes, and confirmation hearings that has typified the Trump administration’s first 100 days, there’s one pending legislative matter that some college leaders are eyeing with particular anxiety: a possible endowment-tax
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WSJ: The IRS Money Hole Gets Deeper
Wall Street Journal Editorial, The IRS Money Hole Gets Deeper: The Internal Revenue Service can’t write its own checks, which means it has to ask Congress for funding like any other agency. But if lawmakers have been tracking its misspending, they’ll turn down the tax collectors’ new $104 billion budget request and demand an audit
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WSJ: The IRS Money Hole Gets Deeper
Wall Street Journal Editorial, The IRS Money Hole Gets Deeper: The Internal Revenue Service can’t write its own checks, which means it has to ask Congress for funding like any other agency. But if lawmakers have been tracking its misspending, they’ll turn down the tax collectors’ new $104 billion budget request and demand an audit
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New CBO Report Confirms Reduced Inequality And Increased Progressivity Of Federal Tax System
Following up on last month's post, The U.S. Tax System Is Getting Even More Progressive: Tax Foundation, New CBO Report Shows Pandemic Response Sharply Reduced Inequality, Increased Progressivity in 2020: The pandemic led to one of the largest fiscal responses in U.S. history, impacting households across the income distribution. A new report from the Congressional Budget
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New CBO Report Confirms Reduced Inequality And Increased Progressivity Of Federal Tax System
Following up on last month's post, The U.S. Tax System Is Getting Even More Progressive: Tax Foundation, New CBO Report Shows Pandemic Response Sharply Reduced Inequality, Increased Progressivity in 2020: The pandemic led to one of the largest fiscal responses in U.S. history, impacting households across the income distribution. A new report from the Congressional Budget
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Why Cutting IRS Funding Is Not Conservative
Washington Post Op-Ed: Why Cutting IRS Funding Is Not a Conservative Move, by Brian Riedl (Manhattan Institute): Last year, President Biden and congressional Democrats enacted $80 billion in new IRS funding for the next decade. During the debt limit debate earlier this year, Republicans successfully negotiated a $20 billion cut in that funding. And now,
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Why Cutting IRS Funding Is Not Conservative
Washington Post Op-Ed: Why Cutting IRS Funding Is Not a Conservative Move, by Brian Riedl (Manhattan Institute): Last year, President Biden and congressional Democrats enacted $80 billion in new IRS funding for the next decade. During the debt limit debate earlier this year, Republicans successfully negotiated a $20 billion cut in that funding. And now,
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Joint Tax Committee Publishes Bluebook: General Explanation Of Tax Legislation Enacted In The 117th Congress
The Joint Committee on Taxation has released General Explanation of Tax Legislation Enacted in the 116th Congress (JCS-1-23) (Dec. 21, 2023) (560 pages): This document, prepared by the staff of the Joint Committee on Taxation in consultation with the staffs of the House Committee on Ways and Means and the Senate Committee on Finance, provides
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Joint Tax Committee Publishes Bluebook: General Explanation Of Tax Legislation Enacted In The 117th Congress
The Joint Committee on Taxation has released General Explanation of Tax Legislation Enacted in the 116th Congress (JCS-1-23) (Dec. 21, 2023) (560 pages): This document, prepared by the staff of the Joint Committee on Taxation in consultation with the staffs of the House Committee on Ways and Means and the Senate Committee on Finance, provides
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Joint Tax Committee: Tax Code Provisions Implicated In Moore
Letter from Thomas Barthold (Chief of Staff, Joint Committee on Taxation) to Richard Neal (Ranking Member, House Ways & Means Committee) (Oct. 3, 2023): This letter responds to your request for a delineation of present law provisions of the Internal Revenue Code of 1986, as amended (the "Code"), that could be affected by a ruling
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Joint Tax Committee: Tax Code Provisions Implicated In Moore
Letter from Thomas Barthold (Chief of Staff, Joint Committee on Taxation) to Richard Neal (Ranking Member, House Ways & Means Committee) (Oct. 3, 2023): This letter responds to your request for a delineation of present law provisions of the Internal Revenue Code of 1986, as amended (the "Code"), that could be affected by a ruling
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CBO: A Call For New Tax Research
Congressional Budget Office, A Call for New Research in the Area of Taxes and Transfers: As part of the legislative process, the Congressional Budget Office supplies the Congress with cost estimates for legislation, economic and budget projections, and other economic assessments. Information from the research community is an important element of CBO’s analyses. This is
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CBO: A Call For New Tax Research
Congressional Budget Office, A Call for New Research in the Area of Taxes and Transfers: As part of the legislative process, the Congressional Budget Office supplies the Congress with cost estimates for legislation, economic and budget projections, and other economic assessments. Information from the research community is an important element of CBO’s analyses. This is
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House Hearing: Biden’s Global Tax Surrender Harms American Workers And Our Economy
Following up on my previous posts: David Schizer (Columbia), Biden And The OECD’s Taxation Without Representation Phil Gramm & Mike Solon, Congress Can Halt Biden’s Rule By Regulation, Beginning With The OECD Global Tax Deal The Tax Subcommittee of the House Ways & Means Committee held a hearing yesterday on Biden’s Global Tax Surrender Harms
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House Hearing: Biden’s Global Tax Surrender Harms American Workers And Our Economy
Following up on my previous posts: David Schizer (Columbia), Biden And The OECD’s Taxation Without Representation Phil Gramm & Mike Solon, Congress Can Halt Biden’s Rule By Regulation, Beginning With The OECD Global Tax Deal The Tax Subcommittee of the House Ways & Means Committee held a hearing yesterday on Biden’s Global Tax Surrender Harms
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State SALT Cap Workarounds: Past, Present, And Future
Richard Stephenson McEwan (J.D. 2023, Indiana-Maurer), Note, State Workarounds to the IRC's SALT Cap: The Past, the Present, and Building for the Future, 98 Ind. L.J. 667 (2023): Recently, Congress has debated measures to provide some relief to taxpayers negatively impacted by the Internal Revenue Code’s State and Local Tax (SALT) deductibility limit. Although Congress
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State SALT Cap Workarounds: Past, Present, And Future
Richard Stephenson McEwan (J.D. 2023, Indiana-Maurer), Note, State Workarounds to the IRC's SALT Cap: The Past, the Present, and Building for the Future, 98 Ind. L.J. 667 (2023): Recently, Congress has debated measures to provide some relief to taxpayers negatively impacted by the Internal Revenue Code’s State and Local Tax (SALT) deductibility limit. Although Congress
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Senate Hearing: The Rich Get Richer, Deficits Get Bigger — How Tax Cuts For The Wealthy And Corporations Drive The National Debt
The Senate Budget Committee held a hearing yesterday on The Rich Get Richer, Deficits Get Bigger: How Tax Cuts for the Wealthy and Corporations Drive the National Debt (video): Bruce Bartlett (Former Deputy Assistant Secretary, U.S. Treasury), Testimony Scott Hodge (Tax Foundation), Testimony Samantha Jacoby (Center on Budget and Policy Priorities), After Decades of Costly,
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Senate Hearing: The Rich Get Richer, Deficits Get Bigger — How Tax Cuts For The Wealthy And Corporations Drive The National Debt
The Senate Budget Committee held a hearing yesterday on The Rich Get Richer, Deficits Get Bigger: How Tax Cuts for the Wealthy and Corporations Drive the National Debt (video): Bruce Bartlett (Former Deputy Assistant Secretary, U.S. Treasury), Testimony Scott Hodge (Tax Foundation), Testimony Samantha Jacoby (Center on Budget and Policy Priorities), After Decades of Costly,
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CBO Data: After-Tax, After-Transfer Income Inequality Has Been Flat Since 2000
Timothy T. Taylor (Macalester College), Income Inequality for US Households: CBO has just published The Distribution of Household Income, 2019 (November 2022). … A good chunk of the underlying data behind this report is from income tax data. This data has the great advantage that is isn’t from a survey asking people about their incomes,
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CBO Data: After-Tax, After-Transfer Income Inequality Has Been Flat Since 2000
Timothy T. Taylor (Macalester College), Income Inequality for US Households: CBO has just published The Distribution of Household Income, 2019 (November 2022). … A good chunk of the underlying data behind this report is from income tax data. This data has the great advantage that is isn’t from a survey asking people about their incomes,
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Joint Tax Committee: Overview Of The Federal Tax System
The Joint Committee on Taxation has released Overview Of The Federal Tax System As In Effect For 2022 (JCX-14-22): This document … provides a summary of the present-law Federal tax system as in effect for 2022. The current Federal tax system has four main elements: (1) an income tax on individuals, estates, trusts, and corporations
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Joint Tax Committee: Overview Of The Federal Tax System
The Joint Committee on Taxation has released Overview Of The Federal Tax System As In Effect For 2022 (JCX-14-22): This document … provides a summary of the present-law Federal tax system as in effect for 2022. The current Federal tax system has four main elements: (1) an income tax on individuals, estates, trusts, and corporations
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Joint Tax Committee: General Explanation Of Tax Legislation Enacted In The 116th Congress
The Joint Committee on Taxation has released General Explanation of Tax Legislation Enacted in the 116th Congress (JCS-1-22) (Mar. 8, 2022) (596 pages): This document, prepared by the staff of the Joint Committee on Taxation in consultation with the staffs of the House Committee on Ways and Means and the Senate Committee on Finance, provides an
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Joint Tax Committee: General Explanation Of Tax Legislation Enacted In The 116th Congress
The Joint Committee on Taxation has released General Explanation of Tax Legislation Enacted in the 116th Congress (JCS-1-22) (Mar. 8, 2022) (596 pages): This document, prepared by the staff of the Joint Committee on Taxation in consultation with the staffs of the House Committee on Ways and Means and the Senate Committee on Finance, provides an