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Economic Effects of Increasing the Tax Rates on Capital Gains and Dividends

Economic Effects of Increasing the Tax Rates on Capital Gains and Dividends
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United statesCongressional budget officeHeritage centerGrowth taxRelief reconciliation actData analysisTax reformEconomic costsLow taxHigher tax

The 2001 and 2003 Bush Tax Cuts: Economic Effects of Permanent Extension

Extending these tax cuts would boost U.S. GDP, employment, incomes, and federal tax collections consistently over the next 10 years.

United statesTracyl foertschGeorgew bushSenior researchHeritage foundationCongressional budget officeFederal reserveData analysisFiscal effectsPresident georgeRelief reconciliation actGrowth taxGlobal insightEconomic effectsBudgetary effectsSenior policy analyst

Make the Dividend and Capital Gains Tax Rates Permanent to Keep the Economy Growing

Thanks in part to the reduced cost of capital, business investmenthas grown in every quarter since the 2003 tax cut, but the average taxation of dividends will become 28 percent if JGTRRA provisionsare allowed to expire. Extending the 2003 tax rates or making thempermanent would reinforce a central element of good economicpolicy: predictable and stable tax law.

United statesNew jerseySouth dakotaWest virginiaJ scott moodyDouglas shackelfordJennifer blouinS hederman jrHeritage foundationMembers of congressCongressional budget officeArthur andersenRelief extension reconciliation actRelief actGrowth taxRelief reconciliation act

Death tax repeal bills introduced on Capitol Hill

Members of Congress are again looking to repeal the estate tax, commonly referred to as the death tax among agricultural circles. Although the tax reforms enacted during the Trump Administration offered a limited repeal of the estate tax, this bill would allow for a complete repeal of the estate tax. The Death Tax Repeal Act of 2021 was introduced this week by Sen. John Thune, R-S.D. with 25 Republican co-sponsors, and Reps. Sanford Bishop, D-Ga., and Jason Smith, R-Mo., who have 120 -cosponsors, however, Bishop is the only Democrat. Some Democrat proposals have threatened an elimination of the estate tax as well as stepped-up basis.

United statesSouth dakotaJerry bohnJohn newtonJason smithSanford bishopJohn thuneEric jenningsFamily business estate tax coalitionSenate finance committee ranking member mike crapoNational cattleman beef associationNational association of manufacturersAmerican farm bureau federationDakota cattlemen associationMembers of congressTaxation group