In light of the Trump administration's and congressional Republicans' proposed massive tax cuts, this fact sheet explains how Congress should avoid various gimmicks to hide the true cost of tax cuts.
This fact sheet explains why repealing the tax on estates worth more than $5.5 million would only benefit the wealthiest 0.2 percent of Americans and leave crucial domestic programs unfunded.
The Trump administration and its allies in Congress are seeking to eliminate U.S. taxes on overseas corporate earnings by moving to a so-called territorial tax system—but doing so could lead to more offshoring of profits and jobs.
President Trump's and House Republicans' proposed "small-business" tax cut would create a new loophole for millionaires—including Wall Street financiers, lobbyists, lawyers, and wealthy business owners like Trump—while doing little or nothing for real small businesses.
American competitiveness would be better served by ensuring that U.S. corporations pay their fair share of taxes and investing those revenues in education, infrastructure, and other public investments that make America a desirable place to do business.
Rather than boosting the economy, tax cuts for the rich widen inequality, harm the middle class, and harm the economy in the long run.