Good Policy Leads to More Tax Cuts for West Virginia
Next year, West Virginians will see an income tax cut thanks to revenue triggers in a 2023 law. The Mountain State joins 14 other states that have cut income taxes this year.
4 min read
Blog Articles
6186 Results
Current Challenges in Vaping Markets
As much as 98 percent of vaping products sold in the US are illicit. Most states levy an excise tax on vaping products, but these tax systems vary substantially. The result is a messy tax system covering largely illicit products, and no one knows whether taxes are being collected and remitted on most products sold nationwide.
7 min read
Where Does Kamala Harris Stand on Taxes?
While both President Biden and Vice President Harris aim their proposed tax hikes on businesses and high earners, key differences between their tax ideas in the past reveal where Harris may take her tax policy platform in the 2024 campaign.
6 min read
Blog
Short FormSpace Race and the Cost of Industrial Policy
Project Apollo achieved its clear objective to put a man on the moon. But not all government spending projects are so simple (that is, if you consider flying a spaceship to the moon simple).
3 min read
Frustrated with Tipping? No Tax on Tips Could Make It Worse
“No tax on tips” might be a catchy idea on the campaign trail. But it could create plenty of headaches, from figuring out tips on previously untipped services to an unexpectedly large loss of federal revenue.
6 min read
Proposed Nebraska Property Tax Relief Plan Would Make Things Worse
Gov. Pillen is searching for tax burden relief. But his plan, which reportedly involves a two-tiered sales tax and the state’s assumption of most school funding responsibility, would have profound implications that even those most convinced of the urgency of property tax relief may find unworkable and unpalatable.
12 min read
A Lower Corporate Tax Rate Can Be Part of Broader Tax Reform
A 15 percent corporate rate would be pro-growth, but it would not address the structural issues with today’s corporate tax base.
4 min read
Placing Biden and Trump Tax Proposals in Historical Context
From President Biden calling the Tax Cuts and Jobs Act the “largest tax cut in American history,” to former President Trump claiming that Biden “wants to raise your taxes by four times,” the campaign rhetoric on taxes may be sparking some confusion.
5 min read
How Does the IRA’s Book Minimum Tax Affect 5G Competition?
A higher tax burden for private infrastructure investments like wireless spectrum, 5G technology, and machinery and equipment makes an existing problem worse—especially against the backdrop of outright state subsidies in countries like China.
6 min read
The Latest on the Global Tax Agreement
The agreement represents a major change for tax competition, and many countries will be rethinking their tax policies for multinationals.
8 min read
ARPA’s Tax Mandate Ruled Unconstitutional by Appellate Court
The Fifth Circuit has affirmed states’ authority over their respective tax policies and has asserted that the offset clause—often called the “Tax Mandate”—of the American Rescue Plan Act (ARPA) has enough fiscal impact on a state’s budget so as to be coercive, as opposed to incentivizing.
5 min read
Trump’s Tax and Tariff Ideas: Details & Analysis
A new trade war could wipe out the benefits of pro-growth tax reform.
6 min read
White House Right on Importance of Business Investment, Wrong on Relevant Policy
The Treasury Department recently touted strong business investment in the years following the pandemic-driven recession and pointed to the Biden administration’s industrial policies in the Inflation Reduction Act and CHIPS Act as key drivers.
7 min read
Evaluating Proposed Pennsylvania Income Tax Reforms
The proposal is a good example of what can be done to reduce tax burdens on residents if spending is constrained. There are real, tangible benefits associated with enacting this pro-growth reform that should not be discounted.
5 min read
How Have Federal Revenues Evolved since the Tax Cuts and Jobs Act?
As members of Congress prepare to address the expiration of the TCJA, they should appreciate how revenues have evolved since 2017.
4 min read
Retail Delivery Fees Are Not the Panacea for States’ Transport Budget Woes
Retail delivery fees are an inefficient and ineffective way to close budget gaps, and lawmakers should consider other, more sound, policy options.
5 min read
California Explores New Ways to Tax the Internet
The data extraction mitigation fee is modeled after Maryland’s digital advertising tax, which has been mired in litigation since its inception and is very likely unconstitutional and in conflict with federal law.
6 min read
Tax Files under New Council of EU Presidency: Hungary
As Hungary takes over the six-month rotating presidency of the Council of the European Union in the aftermath of the European elections, the relationship between tax policy and Europe’s competitiveness will be closely linked.
6 min read
Latest CBO Projections Highlight Fiscal Challenge of Full TCJA Extension
While neither full expiration nor a deficit-financed full extension of the TCJA would be appropriate, lawmakers should consider the incentive effects of whichever tax reform they pursue. Because taxes affect the economy, they also affect the sustainability of debt reduction.
3 min read
Arkansas Enacts Fourth Tax Cut in Less than Two Years
Governor Sarah Huckabee Sanders (R) recently called a brief special legislative session to enact the fourth round of reductions to the Natural State’s individual and corporate income taxes. Legislators also passed a modest property tax reform proposal.
4 min read