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    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
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Crs Report for Congress: Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945 (Updated)

Crs Report for Congress: Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945 (Updated)

Hungerford, Thomas L.
Congressional Research Service the Libr

Paperback

General Political Science

ISBN10: 1294274112
ISBN13: 9781294274117
Publisher: Bibliogov
Published: Nov 11 2013
Pages: 28
Weight: 0.15
Height: 0.06 Width: 7.44 Depth: 9.69
Language: English
Income tax rates are at the center of many recent policy debates over taxes. Some policymakers
argue that raising tax rates, especially on higher income taxpayers, to increase tax revenues is part
of the solution for long-term debt reduction. For example, in the 112th Congress the Senate passed
the Middle Class Tax Cut (S. 3412), which would allow the 2001 and 2003 Bush-era tax cuts to
expire for taxpayers with income over $250,000 ($200,000 for single taxpayers). Other
policymakers argue that maintaining low tax rates is necessary to foster economic growth. For
example, the House passed the Job Protection and Recession Prevention Act of 2012 (H.R. 8),
which would extend the 2001 and 2003 Bush-era tax cuts for one year. The Senate also
considered legislation, the Paying a Fair Share Act of 2012 (S. 2230), that would implement the
so-called Buffett rule by raising the tax rate on high-income taxpayers.

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