Research Report Implications of Governor Romney's Tax Proposals: FAQs and Responses
Samuel Brown, William G. Gale, Adam Looney
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A recent TPC paper examined tradeoffs among revenues, progressivity and tax rates in tax reform. It concluded that, under certain assumptions, any revenue-neutral plan along the lines Governor Romney has outlined would reduce taxes for high-income households, thus requiring higher taxes on other, even if the plan's financing is as progressive as possible, given the available tax expenditures. This paper addresses questions about that study and discusses new estimates that incorporate the taxation of municipal bond interest and the taxation of inside buildup in life insurance vehicles. These additions do not change the basic results.
Research Areas Taxes and budgets
Tags Individual taxes Federal budget and economy Campaigns, proposals, and reforms Federal tax issues and reform proposals
Policy Centers Urban-Brookings Tax Policy Center