The Tax Policy Blog

June 16, 2016

In December, Congress passed the Protecting Americans from Tax Hikes (PATH) Act, also known as the Extenders Bill. This bill extended a number of tax provisions that were set to expire at the end of the year for both businesses and individuals. One such provision that was extended was expensing for the film and television industry. The expensing provision was expanded to include...

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June 15, 2016

Louisiana’s budget shortfall has been a constant source of consternation for legislators, who are now convened in their third legislative session of the year (one special session ran Feb.-March, one regular session ran March-June, and now another special session is running June 6-June 23). The singular focus by some legislators and many in the media has been on generating new revenue, but there are some opportunities for true tax reform. Today, the biggest opportunity is on the House floor...

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June 15, 2016

Today is June 15, the 801st anniversary of Magna Carta. Among the other principles advanced—albeit in their infancy—in the Great Charter were the precept of taxation only with the consent of the governed, and that taxation must be neither ruinous nor arbitrary. More about the Magna Carta and principles of taxation here.

A few links coming across the transom, and one from across the pond:

  • U.K....
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June 15, 2016

The share of infrastructure expenditures funded by tolls, user fees, and user taxes ranges from 14.3 percent in Alaska to 79.8 percent in Hawaii. Within the continental United States, Florida relies the most on dedicated transportation revenues (72.1 percent), while Wyoming (25.8 percent) relies on them the least.

...

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June 14, 2016

Philadelphia City Council members narrowed their beverage tax proposals down to a final compromise measure last Wednesday. The latest proposal, awaiting final vote this Thursday, would levy a 1.5-cent per ounce tax on an expanded selection of sweetened beverages that includes diet soda. Like each variation on Mayor Jim Kenney’s proposals thus far, this tax is built upon an increasingly shaky...

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June 14, 2016

West Virginia’s coal industry is shrinking, creating a budget gap. Policymakers are taking steps to reduce the state’s heavy reliance on coal severance taxes; unfortunately, raising the cigarette tax is a bad way to do it.

West Virginia’s current 5 percent severance tax was responsible for 13 percent of total tax...

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June 14, 2016

Today is June 14, the anniversary of a Supreme Court decision upholding foreign tax liens. The Court upheld New York City’s decision to assess the portion of India’s mission to the United Nations dedicated to housing mission employees, and their action converting the amount owed into a tax lien on the building. It is also Donald Trump’s 70th birthday. Our analysis of Trump’s tax plan can be...

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June 13, 2016

Basic Income Guarantees (BIGs), or Universal Basic Incomes (UBIs), have been gaining a lot of attention lately. These policies call for providing unconditional cash transfers to all citizens, either in addition to or in place of current federal transfers and welfare programs. Commentators across the political spectrum, from Charles Murray on the right to...

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June 13, 2016

Today is June 13, the anniversary of the enactment of the War Revenue Act of 1898, funding the Spanish-American War with bond sales, a graduated estate tax, and new or expanded excise taxes on beer, alcohol, perfume, cosmetics, and telephone calls. While many of the taxes were repealed after peace with Spain, the federal tax on long-distance telephone calls hung on long after, ...

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June 10, 2016

Last week, the Congressional Budget Office released an annual publication, titled “The Distribution of Household Income and Federal Taxes, 2013.” This excellent report details the amount that different households pay in federal taxes, as well as the income and government transfers.

One of the main takeaways from this year’s report is that the richest Americans pay a lot in taxes. In 2013, the top 1 percent of households...

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June 10, 2016

Today is June 10, the date in 323 B.C. on which Alexander the Great died at the age of 32. He was one of the founders of taxation, innovating the idea of demanding revenue from defeated tribes.

Here are some interesting links I came across:

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June 10, 2016

The House will vote on a resolution to oppose a carbon tax today. According to Politico, the symbolic vote is meant to unite the party against the tax just in case Hillary Clinton is elected president. Some believe that with Clinton in the White House a comprehensive tax reform package could contain a carbon tax as part of a “grand bargain.” Interestingly, this symbolic vote comes before...

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June 09, 2016

Today is June 9, the birthday of Peter the Great (1672-1725), a Tsar of Russia who sought to make his country more European, including imposing a beard tax of one hundred rubles per year to discourage long beards.

Here are some interesting links I came across:

  • CBO Reviews President’s Budget: My colleagues Amir El-Sibaie and Alan Cole ...
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June 08, 2016

The Congressional Budget Office (CBO) has recently published their Macroeconomic Analysis of the President’s 2017 Budget. In it the CBO assessed four major topics including changes to the tax code, increased spending to reduce the federal deficit, increases in federal investment, and immigration reform.

Obama’s budget contains roughly $2 trillion in new tax proposals. Among...

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June 08, 2016

The House of Representatives is about to consider the Puerto Rico Oversight, Management, and Economic Stability Act (the Act).  The Act will set up an Oversight Board to help deal with the current financial crisis on the island. The proximate cause of the crisis is the pending default on the island’s heavy debt load, run up in a decade-long burst of spending beyond the island’s...

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Subscribe to Tax Foundation - Tax Foundation's Tax Policy Blog The Tax Policy Blog is the official blog 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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