The One Big Beautiful Bill Act makes many of the individual tax cuts and reforms of the TCJA permanent. It improves upon the TCJA by making expensing for R&D and equipment permanent. However, for the most part, it does not include further structural reforms, and instead introduces many new, narrow tax breaks to the code, adding complexity and raising revenue costs.
7 min read
Alabama’s 2025 legislative session mostly demonstrates a commitment to pro-growth tax policies that enhance competitiveness and reduce compliance burdens.
5 min read
The One Big Beautiful Bill’s changes to the taxation of international income have surprising implications for state codes, yielding tax increases and a revised tax base that, through quirks of state incorporation, bears very little resemblance to the federal base and almost nothing of its purpose.
10 min read
Retail sales taxes are an essential part of most states’ revenue toolkits, responsible for 24 percent of combined state and local tax collections.
17 min read
The BEPS project’s 15 actions were decisive responses to real problems in cross-border taxation, offering real benefits but also real costs. A decade of implementation experience has revealed a critical side effect: sharply higher compliance costs for both tax administrations and the business community.
Policymakers continue to debate international tax rules after the US gained agreement on a new approach at the G7 that could result in US anti-avoidance policies existing side-by-side with the global minimum tax.
4 min read
2025 Tax Brackets
Facts & Figures 2025: How Does Your State Compare?
Summary of the Latest Federal Income Tax Data, 2025 Update
State and Local Sales Tax Rates, Midyear 2025
State Individual Income Tax Rates and Brackets, 2025
Corporate Tax Rates Around the World, 2024
Top Personal Income Tax Rates in Europe, 2025
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See All CommentaryResponse to OECD Consultation on BEPS 1.0
The BEPS project’s 15 actions were decisive responses to real problems in cross-border taxation, offering real benefits but also real costs. A decade of implementation experience has revealed a critical side effect: sharply higher compliance costs for both tax administrations and the business community.
The One Big Beautiful Tax Bill: What’s In It, What’s Out
Congress is racing to pass the One Big Beautiful Tax Bill before the July 4 deadline. In this episode, Kyle Hulehan and Erica York break down what just happened over the weekend, what’s actually in the bill, and what comes next as the House and Senate try to reconcile their differences.
New Jersey Taxpayers Deserve Tax Relief
New Jersey’s residents deserve tax relief, and the state must stem the tide of out-migration. Affordable reforms in the near term could pave the way for more sweeping, and competitive, reforms to take root in the future.
Breaking Down the Senior Deduction in the One, Big, Beautiful Bill
The House-passed reconciliation bill leaves out Trump’s promise to eliminate taxes on Social Security benefits, opting instead to expand the standard deduction for seniors.
Trump’s Policies Deal a Double Blow to Tax-Cutting States
President’s Trump’s policies would throw high-tax states a life raft as they swim against the tide—before potentially hitting all states with a tariff-induced economic tsunami that could force lawmakers’ hands and reverse recent tax relief.
Rhode Island Should Not Imitate Massachusetts’ Tax Mistakes
Rhode Island lawmakers are debating raising the state’s top income tax rate. Though billed as a tax hike on high earners, the consequences would manifest across the state’s entire economy—creating a risk that Rhode Island will tax its way into uncompetitiveness.
Senators Must Hold Down the SALT Cap
States Lose When Credit Unions Acquire Banks
One, Big, Beautiful Bill: The Good, the Bad, and the Ugly
Are Trump’s Tariffs Legal? Here’s What the Courts Say
A Tax War That Makes Americans Poorer
Where the Republican Tax Bill Falls Short