Does the Tax Law Signal Change in How Parties use Tax Credits and Deductions?

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By Niskanen Center - The Science of Politics and Niskanen Center. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
The U.S. has a long history of spending through the tax code, limiting revenue to provide benefits. But Congress just passed a major tax cut that limited some tax deductions, kept others, and expanded the child tax credit. How do the latest Republican efforts fit historical patterns? Christopher Faricy's recent article finds that Republicans usually limit credits and expand deductions, whereas Democrats do the reverse. Yet Joshua McCabe's research finds that the child tax credit is historically a Republican policy; but its targeting is limited by a debate focused on tax relief rather than income supplementation. Both say the latest law could limit the value and political salience of major tax deductions.

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