The Commonwealth’s Case for Corporate Tax Reforms
The Pennsylvania Senate Finance Committee recently advanced two bills, SB 345 and SB 346, that would build on last year’s historic corporate net income tax (CNIT) reform.
7 min read
Blog Articles
6166 Results
Tackling America’s Debt and Deficit Crisis Requires Social Security and Medicare Reform
Any serious proposal to tackle the emerging debt and deficit crisis must also address our largest mandatory spending programs: Social Security and Medicare. Together, these two programs will be responsible for nearly 80 percent of the deficit’s rise between 2023 and 2032, according to Congressional Budget Office (CBO) projections.
8 min read
Design Matters When Raising Taxes to Reduce the Deficit and Stabilize the Debt
Rather than continue down the path of growing debt, lawmakers should craft a comprehensive solution. International experience cautions against tax-based fiscal consolidations, but modest tax increases may be part of a successful debt reduction package.
6 min read
How America’s Debt Problem Compares to Other Countries—and Why It Matters
According to the International Monetary Fund (IMF), the U.S. federal government is among the most indebted governments in the world.
6 min read
Does the Optimal Tax System Exist?
While research on optimal taxation often focuses on the pure economic implications, it rarely considers cultural and societal differences that can lead to very different outcomes when trying to implement an optimal tax system.
4 min read
The Faulty Revenue Estimate Behind Minnesota’s Consideration of Worldwide Combined Reporting
As Minnesota lawmakers consider making theirs the first state to mandate worldwide combined reporting, they are relying on a revenue estimate that is—this may not be the technical term—completely bogus.
7 min read
New Jersey Should Take Opportunity to Make Corporate Taxes More Competitive
By letting the corporate surtax expire, eliminating taxes on GILTI, and embracing full expensing, New Jersey would take important steps toward creating a more welcoming and competitive tax environment.
6 min read
Fast Approaching Debt Limit Deadline and Growing Debt Demand Action
As policymakers look to tackle America’s debt and deficit crisis, they should consider international experiences on successful fiscal consolidations.
6 min read
Do Consumption Taxes Do a Better Job of Taxing Criminals?
One of the arguments in favor of the FairTax is that it would do a better job of taxing the underground economy than the income tax it is intended to replace.
6 min read
Why the Estonian Tax System Would Remain Competitive after Tax Reform
When a country has a broad base with a simple and transparent tax code, small rate changes have little influence. Therefore, policymakers shouldn’t only focus on rate changes when it comes to increasing tax competitiveness.
4 min read
Minnesota’s Omnibus Tax Bill Would Undermine the State Economy
As policymakers in St. Paul finalize this year’s tax bill, they should avoid policies that incentivize the diversion or relocation of capital. Importantly, states do not institute tax policy in a vacuum. The evidence from states’ experiences and the academic literature supports the conclusion that tax competitiveness matters not just to businesses but to human flourishing.
15 min read
Reforming EU Own Resources: Competitiveness versus Raising Revenue
When it comes to EU-level tax policy ideas, competitiveness seems to be less of a priority than raising revenue or pursuing social objectives.
4 min read
What the EU’s Carbon Border Adjustment Mechanism Means for Europe and the United States
The Carbon Border Adjustment Mechanism (CBAM) is a key aspect of the EU’s broader Fit for 55 package which aims to cut 55 percent of net greenhouse gas (GHG) emissions in the EU by 2030. The growing number of competing climate policies between the EU and U.S., such as tax provisions in the Inflation Reduction Act, could present policymakers on both sides of the Atlantic an opportunity to work together.
5 min read
Inflation Reduction Act’s Price Controls Are Deterring New Drug Development
As predicted, the Inflation Reduction Act’s misguided price-setting policy is already discouraging drug development. Rather than double down on it, as President Biden proposes doing in his budget, lawmakers ought to restore incentives to invest in the United States.
5 min read
Tax Policy and Economic Downturns in Europe
While some temporary policies can help in a crisis, policymakers should focus their efforts on sustainable policies that support growth and the resilience of businesses (and government coffers) over the long term.
6 min read
A Better Way to Tax Stock Buybacks
The distributed profits tax is a sounder approach to concerns about investment and stock buybacks than the existing policy approach.
6 min read
How to Unlock Global Growth: The Role of Taxation
Our recent policy conference brought together academics and political leaders to present research on some of the most pressing issues in global tax policy and to discuss solutions that can unlock genuine global growth.
9 min read
Insights into the Tax Systems of Scandinavian Countries
Scandinavian countries are well known for their broad social safety net and their public funding of services such as universal health care, higher education, parental leave, and child and elderly care. So how do Scandinavian countries raise their tax revenues?
7 min read
What Biden’s Budget Gets Wrong about Expensing for Intangible Drilling Costs
Consistent principles ought to apply across the tax code. In the case of intangible drilling costs, companies should be able to claim full deductions for the costs they incur.
4 min read