With Republicans in charge, 2017 could finally bring big changes in tax policy (William G. Gale, Aaron Krupkin, Brookings)

https://www.brookings.edu/opinions/with-republicans-in-charge-2017-could-finally-bring-big-changes-in-tax-policy/

2017’s fiscal outlook is unpromising (William G. Gale, Aaron Krupkin, Brookings)

https://www.brookings.edu/opinions/2017s-fiscal-outlook-is-unpromising/

Major tax issues in 2016 (William G. Gale, Aaron Krupkin, Brookings)

The federal tax system is beset with problems: It does not raise sufficient revenue to finance government spending; it is complex; it creates outcomes that are unfair; and it retards economic efficiency. In this essay, we discuss several ways to improve taxes including creating a value-added tax, increasing environmental taxes, reforming the corporate tax, treating low- and middle- income earners equitably and efficiently, and ensuring appropriate taxation of high-income households. Although the politics are a major barrier to reform, the next president’s legacy may well be determined by how well he or she handles tax policy.

https://www.brookings.edu/research/major-tax-issues-in-2016-2/

Financing state and local pension obligations: Issues and options (William G. Gale, Aaron Krupkin, Brookings)

Many states and municipalities are struggling to fund defined benefit pension plans for their employees. Between 2009 and 2013, in order to improve their pension status, almost every state implemented some combination of lower benefit accruals and higher employer or employee contributions. Numerous cities made changes as well for similar reasons.

http://www.brookings.edu/research/papers/2016/07/19-financing-state-and-local-pension-obligations-issues-and-options-gale

Entrepreneurship and small business under a value-added tax (William G. Gale, Hilary Gelfond, Aaron Krupkin, Brookings)

The possibility of introducing a value-added tax (VAT) in the United States has been discussed on a sporadic basis for several decades. In recent years, efforts to implement a VAT have been spurred by a desire to replace the revenue lost from reducing and simplifying the income tax (for example, Graetz 2010; Toder, Nunns, and Rosenberg 2012) and/or a desire to shore up the nation’s long-term fiscal situation (Debt Reduction Task Force 2010; Gale and Harris 2011).

http://www.brookings.edu/research/papers/2016/03/16-entrepreneurship-small-business-under-value-added-tax-gale

Taxes on the rich may change a lot in 2017 (William G. Gale, Aaron Krupkin, Brookings)

It’s good to be rich. Depending on who becomes the next president, it could get a lot better or a lot worse. Thanks to our colleagues at the Tax Policy Center, we have a clearer picture of how the tax code would look if different presidential candidates win the election and convince Congress to enact their plan. The Democratic candidates would increase revenue and make the system more progressive; the Republicans would cut revenue and make the system more regressive. These differences are especially stark for very high-income households.

http://www.brookings.edu/research/opinions/2016/03/16-taxes-on-the-rich-may-change-a-lot-in-2017-gale