Tax Foundation Europe Launches Website and Prepares Brussels Office
The landscape of tax policy is changing—and we at the Tax Foundation are changing with it.
3 min readThe landscape of tax policy is changing—and we at the Tax Foundation are changing with it.
3 min readSales taxes go beyond a few extra bucks at the register. It’s not just about what you pay, but who pays. What are the implications of state sales tax bases across the U.S.?
The CBO projects deficits will be higher than historical levels, largely due to growth in mandatory spending programs While some recent legislation has reduced the deficit, the Inflation Reduction Act is proving to be more expensive than originally promised.
5 min readDenmark (55.9 percent), France (55.4 percent), and Austria (55 percent) have the highest top statutory personal income tax rates among European OECD countries.
3 min readFor most Americans, saving is a taxing experience. Our neighbors to the north have found a better solution—and U.S. lawmakers should take note.
5 min readOne particular provision of the Biden administration’s proposal to ban so-called “junk fees” would have unintended consequences.
5 min readRetail sales taxes are an essential part of most states’ revenue toolkits, responsible for 32 percent of state tax collections and 13 percent of local tax collections (24 percent of combined collections).
9 min readFrom a revenue standpoint, about $9 billion of the $11.7 billion in lost revenue would accrue to joint filers earning more than $200,000.
5 min readThe U.S. House of Representatives has passed a highly anticipated bipartisan tax deal. The Tax Relief for American Workers and Families Act now awaits action in the Senate.
6 min readLocal income taxes in Maryland constitute about 35 percent of local tax collections and more than 17 percent of local revenue, giving Maryland’s localities the highest dependence on income taxes in the nation.
5 min readHistorical evidence and recent studies have shown that retaliatory tax and trade proposals raise prices and reduce the quantity of goods and services available to U.S. businesses and consumers, resulting in lower incomes, reduced employment, and lower economic output.
5 min readPortugal’s value-added tax (VAT) policy is a treasure trove of tax oddities. Thankfully, VAT base broadening is an ideal instrument to give the Portuguese government the fiscal room to implement pro-growth tax reforms
5 min readAfter years of strong revenue growth, Kansas has substantial cash reserves on hand, and policymakers on both sides of the aisle have expressed a desire to return some of the extra revenue to taxpayers.
5 min readIn a rare change of pace, tax legislation passed out of the Ways and Means Committee last week with overwhelming, bipartisan support. In a more common turn of events, it may not get much further thanks to a small group of passionate, but misled lawmakers known as the “SALT Caucus.”
As policymakers continue efforts to improve Kentucky’s tax structure and competitiveness, they should keep in mind that not all offsets are created equal.
59 min readIt is essential to understand that the taxation of capital gains places a double tax on corporate income.
The House Ways and Means Committee has advanced a tax deal to the House floor that would temporarily—and retroactively—restore two major business deductions for cost recovery and expand the child tax credit through 2025.
10 min readTwo pieces of tobacco legislation in Michigan have the potential to decrease state tax collections by $320 million per year, deter smokers from switching to less harmful products, and increase illicit trade and crime.
4 min readLawmakers should prioritize creating a tax system that supports investment more broadly rather than subsidizing specific industries and allowing broad, neutral pro-investment provisions to expire.
3 min readNebraskans need property tax relief and there are sound ways to provide it. However, increasing the sales tax rate to the highest in the country and dramatically increasing cigarette excises is not sound tax policy.
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