Erica York is Senior Economist with Tax Foundation’s Center for Federal Tax Policy. Her analysis has been featured in The Wall Street Journal, The Washington Post, Politico, and other national and international media outlets.
She previously worked as an auditor at a large community bank in Kansas and interned at Tax Foundation’s Center for State Tax Policy. She holds a master’s degree in Economics from Wichita State University and an undergraduate degree in Business Administration and Economics from Sterling (KS) College, where she is currently an adjunct professor. Erica lives in Kansas with her husband and their two children.
Expensing for capital investment is not a special tax break. Expensing aligns the timing of tax deductions with the timing of actual capital expenditures so that the tax code does not discourage marginal investment projects.
7 min read
At the Republican National Convention in Dallas, President Trump promised payments of $5,000 to every adult citizen in the US if the Republicans maintain control of the House and the Senate in the upcoming midterm elections. Vice President JD Vance later supported the idea, saying that the president’s new tariffs are generating a lot of revenue that can be shared with Americans.
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Economists and journalists have been pointing to a labor share of income series from the Bureau of Labor Statistics (BLS) as evidence that capital is taking an ever-increasing slice of the economic pie. But a closer look at the national income accounts shows a different story.
7 min read
Ten years ago, then-Speaker Paul Ryan and Ways and Means Chairman Kevin Brady released the “Better Way” Tax Plan, the blueprint that would eventually become the Tax Cuts and Jobs Act of 2017—the largest overhaul of the US tax code in over 30 years.
A new paper finds that foreign exporters absorbed 47 percent of the tariff burden, passing on a smaller share to US importers than estimated by other studies.
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Some taxes have more powerful economic effects than others, and that’s a lesson policymakers should absorb as they work to craft a tax code that encourages growth and raises sustainable revenue.
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The economic damage from a chaotic tariff regime can outweigh the revenue itself, and unlike the tariffs, it cannot be refunded.
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The Tax Foundation uses and maintains a General Equilibrium Model, known as our Taxes and Growth (TAG) Model to simulate the effects of government tax and spending policies on the economy and on government revenues and budgets.
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The total amount refunded as of the sixth week of reporting is running ahead of the past filing season by nearly $23 billion at $202.6 billion compared to $179.5 billion, while the average refund is up 10.9 percent at $3,571.
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New IRS data shows the US federal income tax system continues to be progressive as high-income taxpayers pay the highest average income tax rates. Average tax rates for all income groups remain lower after the Tax Cuts and Jobs Act (TCJA).
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The evidence overall paints a far different picture than American Compass presents, and a consistent theoretical framework undercuts its assertions of how tariffs should be expected to impact the economy moving forward.
25 min read
Should you have to file a tax return in a state where you babysat for one hour? In 22 states, the answer is technically yes.
Smaller corporate tax bills after the OBBBA are not evidence of new giveaways or loopholes. They are evidence the tax code is finally treating investment the way it should.
One year later, the evidence shows the tariffs were not reciprocal, did not generate the promised investment boom, raised less revenue than projected, and contributed to higher prices.
One year after “Liberation Day,” evidence shows President Trump’s tariffs were not reciprocal, did not generate the promised investment boom, raised less revenue than projected, and contributed to higher prices.
7 min read
Senators Chris Van Hollen (D-MD) and Cory Booker (D-NJ) have each introduced proposals aimed at cutting taxes for lower- and middle-income taxpayers and raising them on high-income taxpayers.
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AI is everywhere, and now it’s in the tax policy debate.
Short FormIf you’ve filed your taxes already, you may have noticed a larger refund this year. That’s due to changes Congress made with the One Big Beautiful Bill Act (OBBBA) last year that retroactively cut taxes for 2025.
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Thought the Trump administration has not yet imposed new, industry-specific tariffs on drugs or active pharmaceutical ingredients, such tariffs would be a hidden cost on Americans: they would shrink incomes, reduce investment, and lead to less innovation.
7 min read
The tariffs now in effect threaten to offset much of the GDP growth from the tax cuts, while falling short of paying for them.
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