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Stateless Income And Beyond: Ed Kleinbard’s Contribution To International Tax Policy National Tax Journal (IF 1.527) Pub Date : 2022-04-28 Reuven S. Avi-Yonah
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High Noon In the Tax Policy Corral: Edward Kleinbard’s Race Against Time National Tax Journal (IF 1.527) Pub Date : 2022-04-27 Joseph Bankman,Daniel Shaviro
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Tax Compliance in the Amazon National Tax Journal (IF 1.527) Pub Date : 2022-04-20 Celeste Carruthers,William F. Fox,Lawrence M. Kessler,Matthew N. Murray
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Ed Kleinbard’s Business Enterprise Income Tax: How Well Does It Solve the Problem of How to Tax Capital Income? National Tax Journal (IF 1.527) Pub Date : 2022-04-13 Eric Jay Toder
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Trust, the Pandemic, and Public Policies National Tax Journal (IF 1.527) Pub Date : 2022-04-11 James Alm
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Group Equity and Implicit Discrimination in Tax Systems National Tax Journal (IF 1.527) Pub Date : 2022-03-01 Joel Slemrod
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Property Tax Compliance and Reverse Mortgages: Using Nudges to Improve the Market National Tax Journal (IF 1.527) Pub Date : 2022-03-01 Stephanie Moulton,J. Michael Collins,Cäzilia Loibl,Donald Haurin,Julia Brown
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Taxing the Digital Economy: Investor Reaction to the European Commission’s Digital Tax Proposals National Tax Journal (IF 1.527) Pub Date : 2022-03-01 Daniel Klein,Christopher A. Ludwig,Christoph Spengel
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Income Inequality, Race, and the EITC National Tax Journal (IF 1.527) Pub Date : 2022-03-01 Bradley Hardy,Charles Hokayem,James P. Ziliak
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Market Responses To Voter-Approved Debt National Tax Journal (IF 1.527) Pub Date : 2022-03-01 Jinhai Yu,Xin Chen,Mark D. Robbins
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Assessment Caps and the Racial Assessment Gap National Tax Journal (IF 1.527) Pub Date : 2022-03-01 Carlos F. Avenancio-León,Troup Howard
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Who Benefits from the Child Tax Credit? National Tax Journal (IF 1.527) Pub Date : 2022-03-01 Jacob Goldin,Katherine Michelmore
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Homestead Exemptions, Heterogeneous Assessment, and Property Tax Progressivity National Tax Journal (IF 1.527) Pub Date : 2022-03-01 Keith Ihlanfeldt,Luke P. Rodgers
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Childcare Infrastructure in the Nordic Countries as a Way of Enabling Female Labor Market Participation National Tax Journal (IF 1.527) Pub Date : 2021-12-01 Yvette Lind
This paper provides a legal analysis of how barriers for increased gender equality in the labor market can be mitigated through the inclusion of childcare infrastructure, primarily paid parental leave, regulation of maternal and paternal leave, and universal childcare. The five Nordic countries of Sweden, Denmark, Norway, Finland, and Iceland are used as case studies.
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Taxes and Firm Size: A 40-Year Perspective National Tax Journal (IF 1.527) Pub Date : 2021-12-01 Danielle H. Green,George A. Plesko
We examine the statutory incidence of the federal corporate tax on firms by asset size over a 40-year period spanning numerous tax changes. In contrast to previous studies, which have been based upon financial statement measures of effective tax rates, we examine the relation between taxes and asset size using published tax return data and a common measure of distribution. The results suggest that
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The Tax Cuts and Jobs Act: Searching for Supply-Side Effects National Tax Journal (IF 1.527) Pub Date : 2021-12-01 William G. Gale,Claire Haldeman
The Tax Cuts and Jobs Act of 2017 (TCJA) instituted the most substantial changes in taxation in decades and was designed to boost the economy via supply-side incentives. This paper reviews these changes and examines the impacts on economic aggregates through 2019. The act clearly reduced revenue. The effect on gross domestic product is difficult to tease out of the data. Investment growth rose after
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Rebellion, Rascals, and Revenue: Tax Follies and Wisdom through the Ages! by Michael Keen and Joel Slemrod (Princeton University Press, 2021, Princeton, NJ, 511 pages) National Tax Journal (IF 1.527) Pub Date : 2021-12-01 William M. Gentry
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How Did Safety-Net Reform Affect Early Adulthood among Adolescents from Low-Income Families? National Tax Journal (IF 1.527) Pub Date : 2021-09-01 Jacob Bastian,Luorao Bian,Jeffrey Grogger
In the 1990s, the US safety net was substantially reformed. We ask how those reforms collectively affected early-career outcomes among youths who were teens when the reforms took effect. We consider employment, safety-net participation, marriage, and childbearing between the ages of 18 and 32. We take a difference-in-difference approach, tracking adolescents from two generations roughly 20 years apart
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Leakage From Retirement Savings Accounts In The United States National Tax Journal (IF 1.527) Pub Date : 2021-09-01 Lucas Goodman,Jacob Mortenson,Kathleen Mackie,Heidi R. Schramm
This paper generates new, aggregate estimates of retirement savings flows in the United States from 2003 to 2015 and provides detailed estimates of leakage from tax-preferred retirement savings accounts to preretirement-age individuals. We create a nationally representative panel of individuals using a sample of administrative tax data with more than 140 million person-year observations. These data
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Estimating the Distributional Implications of the Tax Cuts and Jobs Act National Tax Journal (IF 1.527) Pub Date : 2021-09-01 Cody Kallen,Aparna Mathur
This paper provides a distributional analysis of the Tax Cuts and Jobs Act (TCJA), with implications for American households from changes to the individual income and corporate income taxes. We model the impact on average tax rates and after-tax incomes using tax records data from the 2011 Internal Revenue Service public use file and the open-source Tax-Calculator microsimulation model. We find that
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The Distributional Effects of Property Tax Constraints on School Districts National Tax Journal (IF 1.527) Pub Date : 2021-09-01 Lucy Sorensen,Youngsung Kim,Moontae Hwang
Many states in recent decades enacted laws that limit the collection of property taxes. This study examines the impacts of New York State’s 2011 tax cap on education revenues and student achievement. We use an instrumental variables approach with 663 school districts from 2006 to 2016. We find that each $1,000 loss in per-pupil revenues from the tax cap leads to drops in student test performance of
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TANF at 25: A Weaker Cash Safety Net Reaching Fewer Families and doing Less to Lift Families out of Deep Poverty National Tax Journal (IF 1.527) Pub Date : 2021-09-01 LaDonna Pavetti,Ali Safawi,Danilo Trisi
We analyze the 25-year trajectory of Temporary Assistance for Needy Families (TANF), the nation’s cash safety net for families with children. Since its creation, TANF’s story has been one of greatly diminished access, low benefits, and states diverting funding away from cash assistance, changes that have disproportionately affected the assistance available to Black families. We document how the weakened
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Generosity Across the Income and Wealth Distributions National Tax Journal (IF 1.527) Pub Date : 2021-09-01 Jonathan Meer,Benjamin A. Priday
There is little systematic evidence on the relationship between income, wealth, and charitable giving, despite its importance for the provision of public goods. We use the Panel Study of Income Dynamics to provide descriptive statistics on this relationship. We report simple means, as well as ordinary least squares and fixed-effects estimates, of three observable measures of generosity: the likelihood
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The Consumption, Income, and Well-Being of Single mother–headed Families 25 Years After Welfare Reform National Tax Journal (IF 1.527) Pub Date : 2021-09-01 Jeehoon Han,Bruce D. Meyer,James X. Sullivan
We investigate how material well-being has changed over time for single mother–headed families — the primary group affected by welfare reform and other policy changes of the 1990s. We focus on consumption as well as other indicators including components of consumption, measures of housing quality, and health insurance coverage. The results provide strong evidence that the material circumstances of
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Voting Systems and Fiscal Policy: Evidence from Runoff and Plurality Elections National Tax Journal (IF 1.527) Pub Date : 2021-06-01 Davide Cipullo
This paper compares policy outcomes under the runoff voting system and the plurality rule by exploiting the assignment of municipalities in Italy to different voting systems based on a population threshold. Mayors, who are the head of the local political power, are elected using a plurality rule in municipalities having fewer than 15,000 residents, while they are elected using a runoff system in municipalities
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Small Business Taxation and Income Inequality: The View from Canada National Tax Journal (IF 1.527) Pub Date : 2021-06-01 Michael Smart
The Canadian tax system features exceptionally low rates of corporate taxation for small businesses, together with a system of corporate-personal tax integration. While in principle the system delivers low tax rates on active business income while ensuring equity and neutrality, there are substantial opportunities for tax avoidance by high-income professionals. This paper discusses the role of recent
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Employment, Child Care Spending, and Child Tax Benefits National Tax Journal (IF 1.527) Pub Date : 2021-06-01 Derek Messacar
As governments strive to help families with the challenges of working and raising children, understanding the effects of child tax benefits is increasingly relevant. This paper estimates the effects of child benefits on labor earnings and child care spending in Canada by using a novel data set that links 215,598 respondents of two national surveys to tax records and analyzing a 2015 reform that expanded
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The Taxation of Capital Income in Canada: Analysis and Directions for Reform National Tax Journal (IF 1.527) Pub Date : 2021-06-01 Kenneth J. McKenzie
This paper describes and analyzes the taxation of capital income in Canada, including the corporate income tax and the taxation of dividends and capital gains at the personal level. The paper then turns to a discussion of directions for policy reform. The perspective is that of a small open economy with highly mobile capital. I argue that a rent-based tax at the corporate level coupled with increases
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Property Tax Homestead Exemptions: An Analysis of the Variance in Take-Up Rates Across Neighborhoods National Tax Journal (IF 1.527) Pub Date : 2021-06-01 Keith Ihlanfeldt
Hundreds of thousands of homeowners eligible for Florida’s homestead exemption fail to claim it, losing out on significant property tax savings. Large differences exist in take-up percentages across neighborhoods. This paper relates these differences to a wide range of neighborhood descriptors. Take-up rates are lower where incomes are lower and a higher percentage of residents are from minority groups
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The Spending and Consumption Response to A VAT Rate Increase National Tax Journal (IF 1.527) Pub Date : 2021-06-01 David Cashin,Takashi Unayama
This study estimates the effect of an increase in Japan’s value-added tax (VAT) rate on the timing of household expenditures and consumption, which do not necessarily coincide. The empirical analysis finds that spending on a wide range of durables and storables surged in the months prior to the tax rate increase, fell sharply upon implementation, but returned to their previous long-run levels within
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What Can We Learn About Automatic Enrollment Into Pensions From Small Employers? National Tax Journal (IF 1.527) Pub Date : 2021-06-01 Jonathan Cribb,Carl Emmerson
Small employers employ significant fractions of the workforce, but their employees typically have very low pension plan participation rates and so are much more likely to be affected by government polices requiring automatic enrollment. We examine the first nationwide policy in the United Kingdom obliging small employers to enroll employees automatically into a pension. Exploiting pseudorandom variation
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Average Tax Rates in the Canadian Personal Income Tax National Tax Journal (IF 1.527) Pub Date : 2021-06-01 Kevin Milligan
This paper addresses the distribution of the personal income tax burden in Canada through an empirical analysis of the years 1988–2018, with particular attention to changes within the top 1 percent of tax filers compared with the middle range. The Canadian personal tax system is progressive and satisfies the “Buffett Rule” comparing the average tax rates at the top and the middle, but the US system
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Local Fiscal Adjustments From Depopulation: Evidence From The Post–Cold War Defense Contraction National Tax Journal (IF 1.527) Pub Date : 2021-03-01 Timothy M. Komarek,Gary A. Wagner
In this paper, we estimate the long-term causal effect of population losses on local government revenue, expenditure, and debt by exploiting a quasi-exogenous change that reduced the number of US military personnel by about 40 percent between the late 1980s and 2000. Aggregating across governmental units within commuting zones, we find that real per capita total revenues and expenditures remained unchanged
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Wayfair in Constitutional Perspective: Who Sets the Ground Rules of US Fiscal Federalism? National Tax Journal (IF 1.527) Pub Date : 2021-03-01 Kirk J. Stark
The 2018 US Supreme Court decision in South Dakota v. Wayfair is arguably the court’s most consequential state tax decision in a generation, perhaps longer. The Wayfair decision overturned the Supreme Court’s 1992 decision in Quill (itself a continuation of the Supreme Court’s ruling in National Bellas Hess a quarter century earlier), which had prohibited states from imposing a use tax collection obligation
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How Does the Depression-Designed Retail Sales Tax Cope with the New Economy? A Tax for the New and A Tax for the Old National Tax Journal (IF 1.527) Pub Date : 2021-03-01 John L. Mikesell,Daniel R. Mullins,Sharon N. Kioko
Retail sales taxes, critical for American government finance, embody a “narrow base, high rate” Great Depression legacy. Legislation can correct this, but technologies and new economy economic structures challenge direct state control. Structural changes focusing the tax on consumption expenditure and away from business purchases can correct the legacy problem and align the tax with new economy issues
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Democratic Federalism: The Economics, Politics, and Law of Federal Governance edited by Robert P. Inman and Daniel L. Rubinfeld (Princeton University Press, 2020, Princeton, NJ, 439 pages) National Tax Journal (IF 1.527) Pub Date : 2021-03-01 Therese J. McGuire
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Cross-Border Effects of A Major Tax Reform — Evidence from the European Stock Market National Tax Journal (IF 1.527) Pub Date : 2021-03-01 Michael Overesch,Max Pflitsch
We analyze the effects of the major US tax reform of 2017 on European firms. Although foreign firms that are active in the respective country should be directly affected, other foreign firms could also be indirectly affected through competition. With an event study design, we analyze stock market returns in Europe around key dates in the legislative process leading to the Tax Cuts and Jobs Act. We
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Does a Day Lost Equal Dollars Saved? The Effects of Four-Day School Weeks on School District Expenditures National Tax Journal (IF 1.527) Pub Date : 2021-03-01 Paul N. Thompson
Although four-day school weeks often have financial justifications, researchers know little about whether they save school districts money. This study examines the dynamics of school district expenditures surrounding the adoption of four-day school weeks using a self-collected nationwide panel of four-day school week use from 1999 to 2017 combined with disaggregated school district expenditure data
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The Elasticity of Taxable Income in The Presence of Intertemporal Income Shifting National Tax Journal (IF 1.527) Pub Date : 2021-03-01 Aspen Gorry,Glenn Hubbard,Aparna Mathur
This paper analyzes how traditional estimates of the elasticity of taxable income among top executives are influenced by the possibility of income deferral. We study the intertemporal shifting of executive compensation in response to changes in personal, corporate, and capital gains tax rates over the period 1992–2005. We separate the elasticity of taxable income into real and income-shifting responses
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Taxing Goods and Services in a Digital Era National Tax Journal (IF 1.527) Pub Date : 2021-03-01 David R. Agrawal,William F. Fox
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The Effect of Cannabis Legalization on Substance Demand and Tax Revenues National Tax Journal (IF 1.527) Pub Date : 2021-03-01 Keaton Miller,Boyoung Seo
Cannabis advocates argue that legalization will increase tax revenues. However, if legal substances are substitutes, cannabis revenues may cannibalize other taxes. We document substitution between legal cannabis products and alcohol and tobacco products using detailed administrative and scanner data from Washington State. We estimate a flexible demand system for legal substances and find legalizing
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DID THE 2017 TAX REFORM DISCRIMINATE AGAINST BLUE-STATE VOTERS? National Tax Journal (IF 1.527) Pub Date : 2020-12-01 David Altig,Alan Auerbach,Patrick Higgins,Darryl Koehler,Laurence Kotlikoff,Ellyn Terry,Victor Ye
The Tax Cuts and Jobs Act of 2017 (TCJA) significantly changed federal income taxation, including limiting SALT (state and local property, income, and sales taxes) deductibility to $10,000. We estimate the TCJA’s differential effect on red- and blue-state taxpayers and the SALT limitation’s contribution to this differential. We find an average increase in remaining lifetime spending of 1.6 percent
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PROFIT SHIFTING BEFORE AND AFTER THE TAX CUTS AND JOBS ACT National Tax Journal (IF 1.527) Pub Date : 2020-12-01 Kimberly A. Clausing
In recent years, profit shifting by multinational companies (MNCs) has generated substantial revenue costs to the U.S. government. The Tax Cuts and Jobs Act (TCJA) changed U.S. international tax law in several important ways. This paper discusses the nature of these changes and their possible effects on profit shifting. The paper also evaluates the effects of the global intangible low-taxed income
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MOVING FORWARD WITH THE EARNED INCOME TAX CREDIT AND CHILD TAX CREDIT National Tax Journal (IF 1.527) Pub Date : 2020-12-01 Elaine Maag,Nikhita Airi
Policymakers grapple with the related issues of unequal incomes, relatively poor health, education, and economic outcomes for low-income children, and hardship among low- and moderate-income families. Refundable tax credits provide substantial support and relief to many. This analysis details who benefits from the earned income tax credit (EITC) and the child tax credit (CTC) and four large-scale tax
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THE TAX ELASTICITY OF FINANCIAL STATEMENT INCOME National Tax Journal (IF 1.527) Pub Date : 2020-12-01 Dhammika Dharmapala
Current reform proposals in international and corporate tax (most notably the Organisation for Economic Co-operation and Development’s Global Anti-Base Erosion proposal) envisage taxing financial statement income. This paper develops a conceptual framework — based on the literature on the elasticity of taxable income (ETI) — for the welfare analysis of such proposals and discusses the available evidence
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U.S. TAX PROGRESSIVITY AND REDISTRIBUTION National Tax Journal (IF 1.527) Pub Date : 2020-12-01 David Splinter
U.S. federal taxes have become more progressive since 1979, largely due to more generous tax credits for lower income individuals. Though top statutory rates fell substantially, this affected few taxpayers and was offset by decreased use of tax shelters, such that high-income average tax rates have been relatively stable. Redistribution, which accounts for both taxes and transfers, has also increased
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DOES THE FEDERAL INCOME TAX LAW FAVOR ENTREPRENEURS? National Tax Journal (IF 1.527) Pub Date : 2020-12-01 Eric Toder
This paper estimates the effective tax rate on entrepreneurial income, defined as the return to an individual who starts a successful new business and then sells their interest once it becomes an established enterprise. The rate depends on both the tax imposed on the appreciation of the firm’s value during its growth phase and on the effects of the tax system on the value of equity in ongoing business
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EFFECTIVE TAX RATES BY INCOME AND WEALTH CLASS National Tax Journal (IF 1.527) Pub Date : 2020-12-01 Jesse Bricker,Kevin B. Moore,Sarah J. Reber,Alice Henriques Volz
We use the Survey of Consumer Finances (SCF) from 1995 through 2016 to study trends in average effective tax rates across the income and wealth distribution. These average tax rates (ATRs) calculated from SCF income data are comparable to those calculated from external sources. We show that the wealthiest families have the highest ATRs, even as the income definition expands to include nontaxable sources
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THE NEW TAX LEGISLATIVE AND REGULATORY PROCESS National Tax Journal (IF 1.527) Pub Date : 2020-12-01 Rebecca M. Kysar
This paper compares the enactment and implementation process for the 2017 Tax Cuts and Jobs Act (TCJA) to prior tax reform acts, as well as situates it within other developments in the legislative process more generally. It details how the 2017 enactment process solidifies reconciliation as the primary vehicle for the enactment of major tax measures, a trend nearly two decades in the making. The ambitious
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CORPORATE BEHAVIORAL RESPONSES TO THE TCJA FOR TAX YEARS 2017–2018 National Tax Journal (IF 1.527) Pub Date : 2020-12-01 Tim Dowd,Christopher Giosa,Thomas Willingham
We analyze the initial corporate response to the 2017 enactment of the “Tax Cuts and Jobs Act” (TCJA). The TCJA changed many corporate tax provisions, including a reduction of the corporate statutory tax rate from 35 percent to 21 percent effective in 2018 and sweeping changes to the taxation of income earned abroad by U.S. corporations. Based on a sample of U.S. corporate tax returns, we find that
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CORPORATE TAX PREFERENCES BEFORE AND AFTER THE TAX CUTS AND JOBS ACT OF 2017 National Tax Journal (IF 1.527) Pub Date : 2020-12-01 Erin Henry,Richard Sansing
We examine the effect of the Tax Cuts and Jobs Act of 2017 (TCJA) on corporate tax preferences and how this effect varies with firm characteristics such as financial performance. We show that the TCJA significantly reduced the extent to which a subsample of profitable firms is tax favored, but it did not change average cash tax differences for the full sample that includes firms with losses. The associations
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FISCAL RESPONSES TO THE COVID-19 CRISIS IN JAPAN: THE FIRST SIX MONTHS National Tax Journal (IF 1.527) Pub Date : 2020-12-01 Michihito Ando,Chishio Furukawa,Daigo Nakata,Kazuhiko Sumiya
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NORWEGIAN AND U.S. POLICIES ALLEVIATE BUSINESS VULNERABILITY DUE TO THE COVID-19 SHOCK EQUALLY WELL National Tax Journal (IF 1.527) Pub Date : 2020-09-01 Annette Alstadsæter,Julie Brun Bjørkheim,Wojciech Kopczuk,Andreas Økland
We use Norwegian administrative data and applications for emergency government support to simulate the magnitude and distribution of business revenue shock due to the COVID-19 pandemic. We rely on it to analyze the impact of business support policies available in Norway and the United States by comparing simulated results from the various policies on a common data set. We find that policies supporting
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FEDERAL AID TO SCHOOL DISTRICTS DURING THE COVID-19 RECESSION National Tax Journal (IF 1.527) Pub Date : 2020-09-01 Nora Gordon,Sarah Reber
The coronavirus has created an enormous — and expensive — challenge for elementary and secondary schools while simultaneously depleting the revenue sources on which public schools depend. During the Great Recession, the federal government filled in a significant share of lost revenue. In contrast, the federal response to date has been limited. If Congress decides to invest in future generations, it
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COVID-19, THE CARES ACT, AND FAMILIES’ FINANCIAL SECURITY National Tax Journal (IF 1.527) Pub Date : 2020-09-01 Neil Bhutta,Jacqueline Blair,Lisa Dettling,Kevin Moore
In response to the severe economic shock induced by the COVID-19 pandemic, Congress passed the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act. Using data on savings, income, and expenses from the Survey of Consumer Finances, we show that cash assistance included in the CARES Act allows almost all families to cover their normal, recurring expenses in the event of long-term unemployment
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IMPLICATIONS OF THE COVID-19 PANDEMIC FOR STATE GOVERNMENT TAX REVENUES National Tax Journal (IF 1.527) Pub Date : 2020-09-01 Jeffrey Clemens,Stan Veuger
We assess the COVID-19 pandemic’s implications for state government sales and income tax revenues. We estimate that the economic declines implied by recent forecasts from the Congressional Budget Office will lead to a shortfall of roughly $106 billion in states’ sales and income tax revenues for the third quarter of 2020 through the second quarter of 2021 (the 2021 fiscal year for most states). This
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Fiscal Policies Amid a Pandemic: The Response of Italy to the COVID-19 Crisis National Tax Journal (IF 1.527) Pub Date : 2020-09-01 Marco Di Pietro, Luigi Marattin, Raoul Minetti
This paper investigates qualitatively and quantitatively the fiscal policies adopted in Italy in response to the COVID-19 crisis We assess the rationale of the policies in light of the characterizing features of the business and household sectors and of the state of public budgets We then evaluate the impact of the policies through a calibrated model of the Italian economy featuring a comprehensive
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U.K. COVID-19 Diary: Policy and Impacts National Tax Journal (IF 1.527) Pub Date : 2020-09-01 Sam Mitha
The U K government struggled to contain the outbreak of COVID-19 Its delay in introducing a lockdown, widespread testing of those who might be infected, and restrictions on the entry of visitors from countries where the virus was rife, as well as its decision to order the transfer of patients from hospitals to care homes without testing them, contributed to the high death toll from the virus The government
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State and Local Government Finances in the COVID-19 Era National Tax Journal (IF 1.527) Pub Date : 2020-09-01 Tracy Gordon, Lucy Dadayan, Kim Rueben
The COVID-19 pandemic and resulting recession put enormous strain on state and local government budgets State personal income and sales tax revenues, which together account for more than 70 percent of general own-source funds, fell further and faster than in the depths of the Great Recession Although some personal income tax losses stemmed from filing deadline extensions and would be recovered later
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Experience Rating and the Dynamics of Financing Unemployment Insurance National Tax Journal (IF 1.527) Pub Date : 2020-09-01 Marta Lachowska, Wayne Vroman, Stephen A. Woodbury
The surge of new claims for unemployment insurance (UI) following the COVID-19 pandemic is rapidly depleting states' UI trust fund reserves By early July, the trust funds of three of the four largest states (California, New York, and Texas) were already insolvent, requiring them to borrow to cover benefits We first describe the condition of the states' trust funds before the start of the pandemic-related