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Tax Policy Blog

Stay informed with quick and accessible analysis of today's top tax policy topics. Read Tax Foundation's Tax Policy Blog for insight from our experts on tax policies across the U.S. and abroad.

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Blog Articles

6142 Results
Flag and buildings, corporate taxation, double taxation

Piling on the GILTI Verdicts

The Biden administration has proposed to significantly increase the tax burden on foreign income through a policy known as Global Intangible Low-Tax Income (GILTI). While the administration’s rhetoric focuses on doubling the tax rate on GILTI from 10.5 percent to 21 percent, this is less than half the story.

5 min read
wealthy inequality, pensions and social security, new research from federal reserve bank of boston Massachusetts ban on flavored cigarettes, Massachusetts ban on flavored tobacco

New Research Suggests Estimates of Wealth Inequality Likely Overstated

New research from Federal Reserve Bank of Boston economists suggests wealth inequality has grown less than previously estimated and that shares of wealth held by top earners drops significantly when accounting for sources of lower- and middle-class wealth that are often overlooked.

2 min read
Schumer marijuana bill recreational marijuana tax revenue by state

New Tax in Town? Federal Proposal to Deschedule and Tax Marijuana

Senate Majority Leader Chuck Schumer (D), Senate Finance Committee Chairman Ron Wyden (D), and Sen. Cory Booker (D) released their discussion draft—the Cannabis Administration and Opportunity Act—for federal descheduling of marijuana. While federal descheduling impacts all states, it does not deschedule marijuana in states which choose to keep their own ban.

6 min read
What is a Tax Refund? Why do I get a tax refund? How much do I owe in taxes? Advance Child Tax Credit Payments IRS Tax Refund Where's my refund? Tax Refund calculator, How much will my tax refund be? Tax withholding calculator, How much taxes did I pay? Form 1040 and W2 IRS tax withholding estimator tool

Unanswered Questions about Upcoming Advance Child Tax Credit Payments

Amidst the outstanding questions, potential confusion over how advanced child tax credit payments will affect tax refunds, and an incomplete portal to update taxpayer information, the IRS will begin sending payments to millions of households this month.

4 min read
trade war tariffs agriculture impact farmers Biden small business tax Biden small business taxes farm estate planning

Biden’s Tax Proposals Could Impact Small Businesses Over Time

The Biden administration has primarily focused on increasing taxes on top earners to generate revenue to fund its spending priorities. However, these proposals would hit many pass-through businesses and much of pass-through business income, including small businesses, family-owned businesses, and farms.

3 min read
north carolina tax competitiveness North Carolina tax reform North Carolina business tax reform

North Carolina’s Tax Competitiveness

Tax reform has paid off for the Tar Heel State. North Carolina features one of the nation’s most competitive tax environments for businesses across the industry spectrum, and the state currently boasts the nation’s third-best effective tax rates for newly established firms and fifth-best rates for mature firms, according to a new analysis conducted by the Tax Foundation and KPMG LLP.

7 min read
Arizona tax reform, Arizona income tax reform, Arizona budget tax package Arizona tax plan signed by Gov. Ducey tax

What’s in Arizona’s Tax Reform Package?

After weeks of deliberations, Arizona Gov. Doug Ducey signed into law a budget for fiscal year (FY) 2022 that reduces the state’s individual income tax rates and consolidates brackets, a plan that will help restore Arizona’s reputation as a low-tax alternative to California.

7 min read
Tax Foundation jobs Build Back Better Act: Details & Analysis of the House Ways and Means Committee Tax Proposals Reconciliation Bill Tax, Biden taxes, Biden tax plan, Biden tax increases upcoming tax changes and upcoming federal tax changes ALIGN Act american innovation and jobs act Permanently Preserving America’s Investment in Manufacturing Act

Policymakers Offer Proposals to Fix Three Upcoming Tax Changes

Three upcoming tax law changes scheduled by the 2017 Tax Cuts and Jobs Act (TCJA) to help offset its revenue losses would be canceled by proposed legislation that would prevent the tax treatment of investment from worsening over the coming years.

4 min read
Wisconsin state budget tax proposals Wisconsin standard deduction increase, Wisconsin tangible personal property tax reform, Madison Wisconsin

Wisconsin Legislature Considering Several Pro-Growth Tax Reforms

Reducing the second-highest individual income tax rate, repealing the TPP tax, and freezing UI tax rates are three valuable reforms that would help promote a smooth economic recovery in Wisconsin while setting the state up for robust economic growth for years to come.

6 min read