House members eye internet sales tax issue
Sales taxes: Maybe there鈥檚 a better way? The House Judiciary Committee will explore alternatives to solve the issue this morning. Whether Chairman Bob Goodlatte听 responds to from small business owners to move legislation this year remains unclear, but something鈥檚 gotta give. 罢笔颁鈥檚 that either individual states or Congress will need to resolve the issue, given the Supreme Court鈥檚 decision last Cyber Monday.
More on the President鈥檚 Budget: testifies before the Senate Budget Committee on the President鈥檚 2015 budget鈥檚 revenue proposals this morning, while HHS Secretary on the topic before the House Ways and Means Committee.听 Sebelius will likely need to defend the Affordable Care Act鈥檚 anticipated financial impacts. For what it鈥檚 worth, for employer- sponsored insurance costs more than the ACA鈥檚 Medicaid expansion and subsidies for moderate- and low-income families.
Speaking of low-income families: How would they do under Camp鈥檚听 tax reform plan? 罢笔颁鈥檚听 the many moving parts听 and finds that Camp听 would听 benefit some married couples with young children at the expense of some childless workers and single parents, as well as families with older kids: 鈥淸L]ow-income families with students aged 19-24 or 18-year-old children would lose the sometimes-substantial support they receive鈥� under the EITC, while childless families would face a cut in their EITC maximum.
And what if the EITC were extended? The Urban Institute鈥檚 and George Mason University鈥檚 Jason Fichtner examined President Obama鈥檚 plan to extend the EITC to single, childless, adult workers in a recent C-SPAN interview. They both noted that the EITC does indeed encourage those who receive it to work and can keep them above the poverty line, but Steuerle notes that President鈥檚 proposed change is relatively modest.
Municipal bonds and brokers: With fees like these, who needs taxes?听 that 鈥淚nvestors who put cash into municipal bonds鈥攁 widely popular strategy for those seeking safe, tax-free bets鈥攁re paying about twice as much in trading commissions as they would for corporate bonds鈥︹�� Ouch.
On the issuing side of the bond ledger, a policy brief by assessed developments in the municipal bond market and their implications for local government borrowers. It鈥檚 a rather prescient piece, especially with stories like these out of . Gordon is now on staff at the White House Council of Economic Advisers.
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