The Tax Policy Center is a joint venture of the Urban Institute and Brookings Institution. Donations through this site are counted as a donation to The Urban Institute under its non-profit rating, but ...

Taxpayers who itemize deductions on their federal income tax returns can deduct state and local taxes--specifically property taxes plus either income taxes or general sales taxes. However, the Tax ...

TPC estimates that extending expiring provisions of the TCJA would slightly boost GDP in the short term by about 0.4 percent, on average, from 2026 through 2034. But over time, these benefits would ...

The Tax Cuts and Jobs Act made significant changes to individual income taxes and the estate tax. Almost all these provisions expire after 2025. The Tax Cuts and Jobs Act (TCJA) made substantial ...

Total US tax revenue equaled 27 percent of gross domestic product, well below the 34 percent weighted average for the other 37 OECD countries. US taxes are low relative to those in other high-income ...

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The Tax Cuts and Jobs Act nearly doubled the standard deduction and eliminated or restricted many itemized deductions in 2018 through 2025. It also eliminated the “Pease” limitation on itemized ...

What is the TPC model's primary data source? The TPC microsimulation model’s primary data source is the 2006 public-use file (PUF) produced by the Statistics of Income (SOI) Division of the Internal ...

The Tax Cuts and Jobs Act cut taxes substantially from 2018 through 2025. The resulting deficits are adding $1 to $2 trillion to the federal debt, according to official estimates from before and ...

The 2017 Tax Cuts and Jobs Act discouraged charitable giving by reducing the number of taxpayers claiming a deduction for charitable giving and by reducing the tax saving for each dollar donated. The ...

T17-0153 - Repeal the Individual Alternative Minimum Tax (AMT), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2017 ...

Fines, fees, and forfeitures are financial penalties imposed for violations of the law. State and local governments collected a combined $13 billion in revenue from fines, fees, and forfeitures in ...