The Tax Policy Blog

March 27, 2014

Today, we released a report with a list of recommendations for how Ohio Governor John Kasich (R) can improve his 2014 suggestions for tax reform. But there is another report released this week by Policy Matters Ohio that is worth reading as well, and we were surprised to find it comes to some similar conclusions. They find that the offsetting...

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March 27, 2014

In response to Ohio Governor Kasich’s call for tax reform in his 2014 State of the State address, we have released an analysis of his proposals and a menu of possible options for improving the state’s corporate, individual income, and sales tax structures.

Key findings include:

  • Governor Kasich’s 2014 tax proposal decreases individual income...
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March 26, 2014

I recently returned from Illinois, where I had an opportunity to share our new research into the impact of income tax changes on employers in Illinois.

The first plans we covered, from Representative Jakobsson and the Center on Tax and...

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March 26, 2014

We've just released an in-depth analysis of the long-term effects on federal revenue and the U.S. economy of enacting the capital cost recovery plan developed by Senate Finance Committee Staff under the guidance of Senator Max Baucus.

Senator Baucus has left the Senate to become ambassador to China, but his proposal is still worth evaluating. Government revenue...

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March 26, 2014

There are several tax plans floating around Illinois right now, in particular ones that would fundamentally alter the state’s single-rate individual income tax. The most recent proposal, put forth by House Speaker Michael Madigan, would impose a 3 percent surcharge on incomes over $1 million.

I wrote earlier this week that Illinois residents should be aware...

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March 26, 2014

This week, Maryland Governor Martin O’Malley (D) will receive a bill that would raise the state’s estate tax exemption from $1 million to the federal level by 2019. The bill, sponsored by Delegate Susan Krebs (R-Carroll), passed by both houses of the state legislature, would...

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March 25, 2014

This morning we released a new report by my colleague Liz Malm, on how a proposed Illinois tax increase would affect small businesses and job creation.

For several months, there has been buzz in Illinois political circles about a progressive income tax, timed to prevent the scheduled drop in the state's current flat income tax from 5% to 3.75% at the end of...

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March 25, 2014

Wisconsin Governor Scott Walker (R) yesterday signed Act 145 into law, a budget bill that makes a number of tax changes. These include:

  • Reducing the lowest income tax...
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March 24, 2014

Capital gains realizations and dividend payouts increased significantly between 2011 and 2012, ahead of a tax increase in 2013.

According to the IRS, capital gains realizations increased 60.4 percent, increasing from $310.9 billion in 2011 to 498.7 billion in 2012. Qualified dividends saw a...

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March 24, 2014

A number of states are calling on Congress to authorize them to collect sales taxes on interstate Internet transactions, including at a congressional hearing early this month. The states claim that they have simplified their sales tax systems so that compliance is no longer burdensome.

The growing number of sales tax jurisdictions, as reported by the tax software...

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March 21, 2014

Kevin Spacey is my favorite actor—I spent my entire recent vacation flight watching his movies—so it’s hard for me to say bad things about him. But he’s also a celebrity with an alleged net worth of $80 million ...

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March 21, 2014

On Thursday, Illinois House Speaker Michael Madigan proposed a 3 percent “additional income tax” constitutional amendment for earners with incomes over $1 million. Currently, Illinois’ income tax rate is 5 percent for...

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March 20, 2014

Chairman Dave Camp (R-MI) of the Ways and Means Committee detailed some significant changes specific to the tax treatment of S corporations in the tax reform plan he recently released.

The biggest changes would reform payroll tax treatment for owners of S corporations, the treatment of active and passive income, and the differentiation between manufacturing and non-manufacturing income (e.g. service or retail businesses).

The focus of Rep. Camp’s plan was to create a simpler...

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March 20, 2014

On March 19th, 2014, the Center on Budget and Policy Priorities released a paper praising President Obama’s plan to raise the federal cigarette excise tax in order to finance early childhood education.

The cigarette excise tax is regarded as a regressive tax because it targets smokers, a population that has lower levels of income on average than the U.S. population at large. From CBPP: “29 percent of poor...

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March 20, 2014

Sister organizations Citizens for Tax Justice (CTJ) and the Institute on Taxation and Economic Policy (ITEP) released a report yesterday, finding that Fortune 500 companies paid little or no state corporate income tax during the 2008 to 2012 period according to SEC filings. Looking at a select 269 companies on the Fortune 500 list, CTJ/ITEP found that 90 companies paid no state corporate income tax in at...

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Subscribe to Tax Foundation - Tax Foundation's Tax Policy Blog The Tax Policy Blog is the official weblog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.

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