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Senate Tax Bill’s Child Tax Credit Increase Provides Only Token Help to Millions of Children in Low-Income Working Families

Fri, 17 Nov 2017 18:19:12 +0000

Low-income working families would largely miss out on the increase, just as in the earlier version.




Senate Tax Bill Could Prove Costlier Than Official Estimate

Thu, 16 Nov 2017 22:03:15 +0000

The Joint Committee on Taxation (JCT) estimates that Senate Finance Committee Chairman Orrin Hatch’s revised tax bill would lose $1.4 trillion between 2018 and 2027, but begin to raise revenue starting in 2027.  To limit the bill’s cost in this way, Chairman Hatch proposed to repeal the Affordable Care Act’s individual mandate, sunset the bill’s individual tax provisions after 2025 (with an important exception explained below), and include other provisions, such as tax increases that take effect starting in 2026.  If, however, policymakers in the future extend those tax cuts and st




Yes, the Massive Coverage Losses From Repealing the Individual Mandate Would Be Harmful

Thu, 16 Nov 2017 21:06:18 +0000

The Congressional Budget Office (CBO) estimates that repealing the Affordable Care Act (ACA) mandate that people get health coverage or pay a penalty, as Senate Finance Committee Chairman Orrin Hatch’s revised tax bill would do, would cause 13 million Americans to become uninsured.




Repealing Individual Mandate Would Hurt, Not Help, Low- and Moderate-Income People

Thu, 16 Nov 2017 20:48:42 +0000

Some Republican senators claim that repealing the Affordable Care Act (ACA) mandate that people have health insurance or pay a penalty — as Senate Finance Committee Chairman Orrin Hatch’s revised tax bill would do — would help low- and moderate-income people, but that claim defies common sense.




Alexander-Murray Legislation Can’t Undo the Severe Harm Resulting From Individual Mandate Repeal

Thu, 16 Nov 2017 17:34:44 +0000

Senate Republican leaders have released a new version of their tax bill that adds a provision repealing the Affordable Care Act’s individual mandate, the requirement that most people enroll in health insurance coverage or pay a penalty.




Failure to Raise Spending Caps Threatens Mental Health Resources

Thu, 16 Nov 2017 17:12:15 +0000

An estimated 25.5 million adults with a mental health condition didn't receive services of any kind in 2016. Yet federal funding for the Community Mental Health Services Block Grant (MHBG), a key program providing services to adults with serious mental illness and children with severe emotional disturbance, will at best stay flat in 2018 — which is effectively a cut after accounting for inflation.




Commentary: Senate Tax Bill Revisions Make Its Fundamental Tradeoffs — Big Tax Cuts for the Top, Little Gain for Low- and Moderate-Income Families — Even Harsher

Thu, 16 Nov 2017 15:50:06 +0000

The bill’s revisions make its fundamental tradeoffs — big tax cuts for the top, little gain for low- and moderate-Income families — even harsher.




New Senate Child Credit Proposal Still Doesn’t Prioritize Families That Most Need It

Wed, 15 Nov 2017 20:52:16 +0000

In revising the Senate Republican tax plan’s expansion of the Child Tax Credit (CTC), Senate Finance Committee Chairman Orrin Hatch raised its cost by about $13 billion (or 22 percent) per year but did nothing for the millions of low- and moderate-income working families that would get only token help under the prior proposal.




Senate Tax Bill Would Add 13 Million to Uninsured to Pay for Tax Cuts of Nearly $100,000 Per Year for the Top 0.1 Percent

Wed, 15 Nov 2017 16:16:05 +0000

Eliminating the individual mandate would increase the number of Americans without health insurance by millions.




CMS Will Let States Cut Medicaid for People Who Can’t Work

Tue, 14 Nov 2017 21:43:21 +0000

For the first time, states will be able to require work or work-related activities as a condition of Medicaid eligibility, Centers for Medicare & Medicaid Services (CMS) Administrator Seema Verma recently announced.




For Utah, Medicaid Expansion Is Better Choice Than Flawed, Limited Waiver

Tue, 14 Nov 2017 17:59:57 +0000

The Centers for Medicare & Medicaid Services (CMS) has approved an amendment to Utah’s section 1115 Medicaid waiver through which the state will provide Medicaid coverage to a small, poorly defined group of adults with no income — but that’s well short of the coverage gains that Utah could make if it adopted the Affordable Care Act’s Medicaid expansion for poor and near-poor adults.




Study: Medicaid Expansion Improves Low-Income Peoples’ Financial Health, Too

Tue, 14 Nov 2017 17:05:15 +0000

Medicaid coverage improves low-income peoples’ financial credit, new research shows by comparing states that have adopted the Affordable Care Act’s Medicaid expansion and those that haven’t.




Puerto Rico Needs More Food Assistance During Recovery

Tue, 14 Nov 2017 15:12:32 +0000

“Of all Puerto Rico’s continuing miseries… the most blatantly unjust is that Islanders have been denied the more generous and swifter food relief distributed to storm victims this year in Texas and Florida under the emergency food stamp program,” the New York Times editorialized recently.




ACA Marketplace Sign-Ups Outpacing Last Year, Despite Sabotage

Tue, 14 Nov 2017 15:04:33 +0000

The 2018 open enrollment period for Affordable Care Act (ACA) marketplace coverage is off to a fast start, with over 600,000 customers selecting plans in the first four days compared to 416,000 during the first five days of last year’s period.




Senate’s “Pass-Through” Tax Cut Favors Biggest Businesses and Wealthiest Owners

Tue, 14 Nov 2017 15:00:58 +0000

The tax bill that the Senate Finance Committee will consider this week includes a tax cut for “pass-through” businesses that’s heavily skewed to the biggest businesses and the wealthiest business owners.




GOP Making Highly Unrealistic Claims for Wage Gains from Tax Cuts

Mon, 13 Nov 2017 21:29:59 +0000

In my latest post for US News & World Report’s Economic Intelligence, I discuss how Republicans’ claims that their tax cuts will give American workers a large pay raise don’t stand up to scrutiny. Here’s the gist:




Threat of Tax Credit Repayment Would Reduce Coverage, Put Many Families at Financial Risk

Mon, 13 Nov 2017 21:22:12 +0000

Protections should be extended to middle-income families.




JCT: Senate Tax Bill Benefits Well-Off the Most, and Millions of Low- and Middle-Income People Face Tax Increases

Mon, 13 Nov 2017 20:22:30 +0000

The tax bill that the Senate Finance Committee will consider this week provides the largest benefits to those with the highest incomes, the Joint Committee on Taxation (JCT) confirms with new estimates. While committee Republicans claim that the JCT estimates show that the middle class will be the “biggest winn




Federal Reserve Should Remain Free From Burdensome Constraints

Mon, 13 Nov 2017 19:16:35 +0000

Chairman Barr, ranking member Moore and members of the committee, thank you for holding this hearing on the transparency, bond purchases, and lending policy of the Federal Reserve in periods of economic stress.




The House Republican Tax Plan Is Fiscally Irresponsible

Mon, 13 Nov 2017 14:30:07 +0000

The bill would cost nearly $1.5 trillion over the decade, but provisions in the bill that would phase in slowly or expire after several years obscure the bill’s true cost and would almost certainly drive the ultimate cost even higher.




Federal Government Should Fully Fund Grants That Help States Improve Corrections

Fri, 10 Nov 2017 22:31:08 +0000

When the President and Congress finalize program funding for fiscal year 2018, they should increase funding for three key Justice Department grants that help states reduce recidivism and improve the corrections system: the Second Chance Act, the Justice Reinvestment Initiative, and the Justice and Mental Health Collaboration Program.




Medicaid Criteria Changes Don’t Ensure Waivers Will Further Program Objectives

Fri, 10 Nov 2017 22:28:07 +0000

The Centers for Medicare & Medicaid Services (CMS) has revised its criteria for approving demonstration projects (or “waivers”) for states to test new ways to deliver health care to low-income people through Medicaid — and, in doing so, it signaled that the Trump Administration plans to approve proposals that won’t promote Medicaid’s objectives.




In Case You Missed It...

Fri, 10 Nov 2017 22:21:53 +0000

This week at CBPP, we focused on the federal budget and taxes, state budgets and taxes, health, food assistance, housing, and the economy.




Senate Tax Bill Has Same Basic Flaws as House Bill

Fri, 10 Nov 2017 21:41:00 +0000

The bill increases deficits, tilts heavily toward the wealthy, and would lead to deep program cuts in the future.




Senate Tax Bill Limits Child Tax Credit Expansion for Low-Income Children, Extends Credit to Wealthy Households

Fri, 10 Nov 2017 17:37:02 +0000

Millions of children whose parents work for low wages would receive a severely limited increase or none at all. 




Study: Coupling Vouchers With Supportive Services Helps Veterans Find Housing

Fri, 10 Nov 2017 15:36:04 +0000

A new study affirms the impressive success of the Department of Housing and Urban Development-Veterans Affairs Supportive Housing (HUD-VASH) program in helping homeless veterans secure stable, affordable homes while recommending several improvements. 




Ending Medicaid’s Retroactive Coverage Harms Iowa’s Medicaid Beneficiaries and Providers

Thu, 09 Nov 2017 22:02:43 +0000

The Centers for Medicare & Medicaid Services (CMS) has granted a section 1115 waiver to let Iowa end Medicaid payments for medical costs that beneficiaries incurred up to three months before enrolling in Medicaid if they were eligible for Medicaid during that period.




Doubling Estate Tax Exemption Would Give Windfall to Heirs of Wealthiest Estates

Thu, 09 Nov 2017 21:27:55 +0000

Senate Finance Committee Chairman Orrin Hatch’s new tax bill would double the value of estates that’s exempt from the estate tax, from $11 million per couple ($5.5 million per person) to $22 million per couple ($11 million per person). That would:




Federal Rental Assistance Is Critical to All Types of Communities

Thu, 09 Nov 2017 20:14:41 +0000

Federal rental assistance plays a vital role in urban, suburban, and rural communities alike, our new analysis shows, helping 10 million people in over 5 million low-income households afford stable housing.




Senate Tax Plan’s End to SALT Deduction a Poor Trade for Tax Cuts for Wealthy

Thu, 09 Nov 2017 19:19:12 +0000

Senate Finance Committee Chairman Orrin Hatch’s new tax plan would reportedly eliminate the federal deduction for state and local taxes (SALT), which lets taxpayers who itemize deductions deduct state and local property taxes and either state and local income taxes or general sales taxes, and use the revenue to pay for cutting income tax rates.




Federal Rental Assistance Provides Affordable Homes for Vulnerable People in All Types of Communities

Thu, 09 Nov 2017 19:06:44 +0000

Despite the agency’s name, the Department of Housing and Urban Development’s (HUD) rental assistance programs are not exclusive to urban neighborhoods — over 2.1 million suburban and rural households rely on HUD programs to keep a roof over their heads. 




House Tax Bill’s Child Tax Credit Increase Excludes Thousands of Children in Low-Income Working Families in Every State

Wed, 08 Nov 2017 22:09:44 +0000

1 in 3 children in working families would either be excluded entirely or only partially benefit from the CTC increase.




SNAP Helps Almost 1.5 Million Low-Income Veterans, Including Thousands in Every State

Wed, 08 Nov 2017 21:13:41 +0000

In every state, thousands of low-income veterans use SNAP to help put food on the table.




Interactive: House GOP Child Tax Credit Increase Leaves Out Millions of Children in Working Families

Wed, 08 Nov 2017 19:02:50 +0000

 



Maine Should Now Move Quickly to Implement Medicaid Expansion

Wed, 08 Nov 2017 18:29:25 +0000

Now that Maine voters overwhelmingly approved a ballot initiative to adopt the Affordable Care Act’s (ACA) Medicaid expansion and provide health coverage to about 70,000 low-income Mainers, Gov. Paul LePage and lawmakers should move quickly to implement the new law.




Republican Plans to Cut Taxes Now, Cut Programs Later Would Shortchange Infrastructure Investments

Wed, 08 Nov 2017 17:19:18 +0000

Congressional Republicans this fall are poised to launch step one of a likely two-step tax and budget agenda: enacting costly tax cuts now that are heavily skewed toward wealthy households and profitable corporations, then paying for them later through program cuts. Investments in infrastructure would likely end up bearing part of the cost.




Tax Bill’s Child Tax Credit Change Would Hurt 3 Million Children

Tue, 07 Nov 2017 21:26:04 +0000

An especially egregious, and little noticed, provision of the tax bill before the House Ways and Means Committee would harm 3 million low-income children in working families by denying them the Child Tax Credit (CTC) if their parents file their taxes with an Individual Tax Identification Number (ITIN) rather than a Social Security Number (SSN).




Administration’s Proposed Changes to Essential Health Benefits Seriously Threaten Comprehensive Coverage

Tue, 07 Nov 2017 16:10:23 +0000

The Trump Administration has issued proposed regulations to substantially weaken the Affordable Care Act’s Essential Health Benefits standard.   




Republicans Considering Increasing Number of Uninsured by Millions, Raising Premiums to Help Pay for Tax Cuts

Mon, 06 Nov 2017 20:47:45 +0000

At President Trump’s urging and with the support of some Republican senators, House Republicans are considering adding to their tax bill a provision repealing the Affordable Care Act’s individual mandate.    




Republican Plans to Cut Taxes Now, Cut Programs Later Would Make Most Workers Worse Off

Mon, 06 Nov 2017 19:11:00 +0000

Congressional Republicans this fall are poised to launch step one of a likely two-step tax and budget agenda: enacting costly tax cuts now that are heavily skewed toward wealthy households and profitable corporations, then paying for them later through program cuts mostly affecting low- and middle-income families.  Most workers and their families would lose more from the program cuts than they would gain from the tax cuts.




Republican Plans to Cut Taxes Now, Cut Programs Later Would Leave Most Latinos Worse Off

Mon, 06 Nov 2017 19:03:03 +0000

Congressional Republicans this fall are poised to launch step one of a likely two-step tax and budget agenda: enacting costly tax cuts now that are heavily skewed toward wealthy households and profitable corporations, then paying for them later through program cuts mostly affecting low- and middle-income families.  Most Latino families would lose more from the program cuts than they would gain from the tax cuts.    




Republican Plans to Cut Taxes Now, Cut Programs Later Would Leave Most Women Worse Off

Mon, 06 Nov 2017 18:54:55 +0000

Congressional Republicans this fall are poised to launch step one of a likely two-step tax and budget agenda: enacting costly tax cuts now that are heavily skewed toward wealthy households and profitable corporations, then paying for them later through program cuts mostly affecting low- and middle-income families.  Most women and their families would lose more from the program cuts than they would gain from the tax cuts.




Republican Plans to Cut Taxes Now, Cut Programs Later Would Leave Most African Americans Worse Off

Mon, 06 Nov 2017 16:52:19 +0000

Congressional Republicans this fall are poised to launch step one of a likely two-step tax and budget agenda: enacting costly tax cuts now that are heavily skewed toward wealthy households and profitable corporations, then paying for them later through program cuts mostly affecting low- and middle-income families.  Most African American families would lose more from the program cuts than they would gain from the tax cuts.




Joint Committee on Taxation Distribution Tables Confirm Skewed Priorities of House Tax Bill

Sun, 05 Nov 2017 17:11:24 +0000

The estimates show that the tax cuts proposed in the House bill are overwhelmingly skewed to the top. They also show that some income groups, including some moderate-income households, would see tax increases.




House GOP’s Child Tax Credit Expansion Excludes Millions of Children in Lower-Income Working Families

Sat, 04 Nov 2017 13:38:45 +0000

The proposal excludes millions of children whose parents work in low-wage jobs, even as it expands eligibility for higher-income families.




In Case You Missed It…

Fri, 03 Nov 2017 20:31:38 +0000

This week at CBPP, we focused on federal taxes, state budgets and taxes, health, poverty and inequality, housing, and the economy.




TABOR: Holding Colorado Back, 25 Years Later

Fri, 03 Nov 2017 15:41:56 +0000

Twenty-five years ago today, Colorado voters approved the Taxpayer Bill of Rights (TABOR), a constitutional amendment limiting annual state and local spending and revenue growth to a rigid, arbitrary formula and mandating voter approval of all tax increases, among other restrictions. TABOR proceeded to undermine Colorado’s ability to pay for the building blocks of thriving communities and a strong economy, such as public schools and universities, health care, roads and bridges, and other infrastructure needs.




Doubling Exemption on Estate Tax, Then Repealing It, Would Give Millions to Wealthiest Heirs

Thu, 02 Nov 2017 20:02:51 +0000

Brady’s bill would immediately deliver large tax cuts to the heirs of the nation’s wealthiest estates.




House Tax Bill’s Changes to State and Local Tax Deductions Would Hurt States

Thu, 02 Nov 2017 19:55:25 +0000

The House tax bill released today ends the federal deduction for state and local income and sales taxes and limits the deduction for state and local property taxes to taxes under $10,000 — all to pay for marginal income-tax rate cuts. That would be a bad deal for most Americans.




Increase in Medicare’s Income-Related Premiums Raises Concerns

Thu, 02 Nov 2017 18:09:43 +0000

The House will vote tomorrow on a bill to extend funding for the Children’s Health Insurance Program (CHIP), temporarily increase federal funding for Puerto Rico’s Medicaid program, extend funding for community health centers and several other public health programs for two years, and temporarily avert cuts to Medicaid disproportionate share hospital (DSH) payments.