Trump Tariffs: Tracking the Economic Impact of the Trump Trade War
The Trump tariffs are the largest US tax increase as a percent of GDP since 1993 and amount to an average tax increase per US household of $1,500 in 2026.
48 min read
The Tax Foundation is the world’s leading independent tax policy 501(c)(3) nonprofit. For over 85 years, our mission has remained the same: to improve lives through tax policies that lead to greater economic growth and opportunity.
Our Center for Federal Tax Policy, Center for State Tax Policy, and Center for Global Tax Policy each produce timely and high-quality research and analysis that influences the debate toward economically principled tax policies. Our experts are continuously analyzing the day’s most relevant tax policy topics and are relied upon routinely for presentations, testimony, and media appearances on tax issues spanning every level of government.
Likewise, providing journalists, taxpayers, and policymakers with basic data on taxes and spending has been a cornerstone of the Tax Foundation’s educational mission since its founding. As we wrote in our first edition of Facts & Figures in 1941, “Facts give a broader perspective; facts dissipate predilections and prejudices…[and are] an important step to meet the challenge presented by the broad problems of public finance.”
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2026 Tax Calculator: How the One Big Beautiful Bill Act’s Tax Changes Will Affect You
How will recent federal tax changes affect you?
4 min read
2026 State Tax Competitiveness Index
The State Tax Competitiveness Index enables policymakers, taxpayers, and business leaders to gauge how their states’ tax systems compare. While there are many ways to show how much state governments collect in taxes, the Index evaluates how well states structure their tax systems and provides a road map for improvement.
122 min read
Property Tax Relief & Reform
Lawmakers can constrain the growth of property taxes without creating new problems. But the details matter.
FAQ: The One Big Beautiful Bill, Explained
Our experts explain how this major tax legislation may affect you and how policymakers can better improve the tax code.
24 min read
State Tax Implications of the One Big Beautiful Bill Act
For Congress, work on the One Big Beautiful Bill Act is done. But in state capitols, the work has not yet begun. Many of the tax changes in the federal reconciliation act flow through to state tax codes—automatically in some states, and subject to an update in states’ Internal Revenue Code conformity date in others.
39 min read
State Individual Income Taxes on Nonresidents: A Primer
As a rule, an individual’s income can be taxed both by the state in which the taxpayer resides and by the state in which the taxpayer’s income is earned.
52 min read
The One Big Beautiful Bill Cuts Taxes Across the US, New Analysis Finds
We estimate the OBBBA will reduce federal taxes on average for individual taxpayers in every state. Across all individual tax filers throughout the US, the average tax cut per taxpayer will be over $3,700 in 2026.
4 min read
Facts & Figures 2025: How Does Your State Compare?
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min read
International Tax Competitiveness Index 2025
While there are many factors that affect a country’s economic performance, taxes play an important role. A well-structured tax code is easy for taxpayers to comply with and can promote economic development while raising sufficient revenue for a government’s priorities.
93 min read
Summary of the Latest Federal Income Tax Data, 2025 Update
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).
6 min read
2024 European Tax Policy Scorecard
The variety of approaches to taxation among European countries creates a need to evaluate these systems relative to each other. For that purpose, we have developed the European Tax Policy Scorecard—a relative comparison of European countries’ tax systems.
55 min readAll Related Articles
2454 Results
CBO Releases New Long-term Budget Outlook
The pandemic precipitated the steepest decline in economic output and employment in recent history, which is leading to a drop in tax revenue. At the same time, the federal response to the crisis is producing a large increase in spending. This combination will cause the federal budget deficit to spike.
5 min read
New Census Data Shows States Beat Revenue Expectations in FY 2020
State tax revenue collections were down 5.5 percent in FY 2020, driven by a dismal final quarter (April through June) as states began to feel the impact of the COVID-19 pandemic. While these early losses are certainly not desirable, they are manageable and far better than many feared.
16 min read
New European Commission Report: VAT Gap
Just as COVID-19 is putting pressure on other sources of revenue, the loss of VAT revenues resulting from the crisis will force governments to evaluate their VAT systems.
3 min read
Does Your State Have an Individual Alternative Minimum Tax (AMT)?
Under an individual AMT, many taxpayers are required to calculate their income tax liability under two different systems and pay the higher amount.
2 min read
Recent Changes in Statutory Corporate Income Tax Rates in Europe
Over the last two decades, corporate income tax rates have declined around the world. Our new map shows the most recent changes in corporate tax rates in European OECD countries, comparing how combined statutory corporate income tax rates have changed between 2017 and 2020.
3 min read
Does Your State Have a Marriage Penalty?
A marriage penalty exists when a state’s income brackets for married taxpayers filing jointly are less than double the bracket widths that apply to single filers.
2 min read
Tax Treaty Network of European Countries
Tax treaties usually provide mechanisms to eliminate double taxation and can provide certainty and stability for taxpayers and encourage foreign investment and trade. A broad network of tax treaties contributes to the competitiveness of an economy.
1 min read
Estate and Inheritance Taxes by State, 2020
In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax.
3 min read
Thin-Cap Rules in Europe
To discourage a certain form of international debt shifting, many countries have implemented so-called thin-capitalization rules (thin-cap rules), which limit the amount of interest a multinational business can deduct for tax purposes.
4 min read
How High Are Property Taxes in Your State?
New Jersey has the highest effective rate on owner-occupied property at 2.21 percent, followed closely by Illinois (2.05 percent) and New Hampshire (2.03 percent).
2 min read
Who Will Pay for the Roads?
The highway trust fund is on track to run out of money by 2021, states are struggling to cover their transportation spending, and increased fuel economy, plus inflation, is chipping away at gas tax revenue year. How can Congress and state governments ensure they have the revenue necessary to fund our highways? One solution is the vehicle miles traveled (VMT) tax.
35 min read
CFC Rules in Europe
To prevent businesses from minimizing their tax liability by taking advantage of cross-country differences in taxation, countries have implemented various anti-tax avoidance measures, one known as Controlled Foreign Corporation (CFC) rules.
5 min read
Property Taxes by County, 2020
The five counties with the highest median property tax payments are all located near New York City and have bills exceeding $10,000.
3 min read
Inventory Valuation in Europe
The method by which a country allows businesses to account for inventories can significantly impact a business’s taxable income. When prices are rising, as is usually the case due to factors like inflation, LIFO is the preferred method because it allows inventory costs to be closer to true costs at the time of sale.
2 min read
Teleworking Employees Face Double Taxation Due to Aggressive “Convenience Rule” Policies in Seven States
States can tax your income where you live and where you work—but a growing number of states may also seek to tax your income even if you neither live nor work there, an aggressive posture that becomes increasingly consequential as more Americans work remotely both during and potentially after the COVID-19 pandemic.
15 min read
Real Value of $100 by Metropolitan Area, 2018
California is home to 7 of the 10 most expensive metro areas in America. See what’s the real value of $100 in your metro area with our new purchasing power map.
4 min read
Where Should the Money Come From?
The fiscal response to the COVID-19 pandemic will require policymakers to consider what revenue resources should be used to fill budget gaps. Tax policy experts have proposed wealth taxes, (global) corporate minimum taxes, excess profits taxes, and digital taxes as opportunities for governments to raise new revenues.
20 min read
An Overview of the Low-Income Housing Tax Credit (LIHTC)
The LIHTC has subsidized over 3 million housing units since it was established in 1986, the largest source of affordable housing financing.
24 min read
Does Your State Tax Social Security Benefits?
The question, “Does my state tax Social Security benefits?” may be simple enough, but the answer includes a lot of nuance. Many states have unique and specific provisions regarding the taxation of Social Security benefits, which can be broken into a few broad categories.
3 min read
Real Property Taxes in Europe, 2020
High property taxes levied not only on land but also on buildings and structures can discourage investment because they disincentivise investing in infrastructure, which businesses would have to pay additional tax on. For this reason, it may also influence business location decisions away from places with high property tax.
3 min read