Trump, Biden and the American Protectionist Matrix
Trump’s protectionist measures and the continuation of most of them under the Biden administration already form the matrix of American trade policy after the 2024 elections.
1 min readStay 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.
To find our most recent research papers and data, click the links below.
Trump’s protectionist measures and the continuation of most of them under the Biden administration already form the matrix of American trade policy after the 2024 elections.
1 min readWhen Caitlin Clark and Angel Reese made their WNBA preseason debuts, basketball fans across the country tuned in. But there’s another audience that also follows along: state revenue officials, who will expect their piece of the pie each time these star athletes—and their teammates—come to town.
3 min readOn Europe Day, our experts explore how the decisions made in the upcoming elections will shape the trajectory of the continent for years to come.
4 min readGas tax revenues have decoupled from road expenses and have been unable to support road funding in recent years. As such, states nationwide are exploring ways to supplement or replace gas tax revenues.
8 min readTwo bills in Georgia will lower the flat individual income tax rate and align the corporate income tax rate with the individual income tax rate.
4 min readThe TCJA improved the U.S. tax code, but the meandering voyage of its passing and the compromises made to get it into law show the challenges of the legislative process.
6 min readBEAT is intended to address a legitimate problem, and there are virtues to BEAT’s overall strategic approach; however, its execution leaves room for improvement.
7 min readHere’s how much NFL players can expect to pay in state and local income taxes—to all relevant states—at multiple salary levels, by team.
7 min readIf reelected, President Trump would drastically escalate the trade war he started during his first term. But what often goes unnoticed is President Biden’s role in continuing Trump’s first trade war. In fact, more tax revenue from the trade war tariffs has been collected under Biden than under Trump.
5 min readOver the next 10 years, the IRA’s energy tax credits are projected to cost north of $1 trillion, adding to the federal government’s budgetary challenges and burgeoning debt.
6 min readDespite taxes playing a significant role in personal finances and being levied on a sizable portion of the U.S. population, most Americans are not just unhappy with the current tax code but also do not understand it.
4 min readWith proposals to adopt the nation’s highest corporate income tax, second-highest individual income tax, and most aggressive treatment of foreign earnings, as well as to implement an unusually high tax on property transfers, Vermont lawmakers have no shortage of options for raising taxes dramatically.
7 min readPortugal’s personal income tax system levies high tax rates on an unusually narrow set of high earners, striking a poor balance between earnings incentives and revenue contributions.
4 min readFocusing on competitiveness, neutrality, and efficient policies to raise revenue would go a long way in increasing economic growth and stabilizing public finances over the long term.
7 min readThe federal income tax drives the tax code’s progressivity. In 2021, taxpayers with higher incomes paid much higher average income tax rates than taxpayers with lower incomes.
4 min readWith state tax revenues receding from all-time highs, there’s been a great deal of handwringing about whether states can afford the tax cuts adopted over the past few years. Given that 27 states reduced the rate of a major tax between 2021 and 2023, is there reason for concern?
4 min readGiven that U.S. debt is roughly the size of our annual economic output, policymakers will face many tough fiscal choices in the coming years. The good news is there are policies that both support a larger economy and avoid adding to the debt.
6 min readBy violating the principles of simplicity, neutrality, and stability, and failing to raise significant revenue, worldwide combined reporting at the state level is doomed to fail.
6 min readThe “Bring Chicago Home” ballot measure would make Chicago’s tax structure substantially less neutral by raising taxes on some property transfers while decreasing taxes on others.
7 min readPortugal’s turnover tax on real property transfers places a serious drag on economic growth by making it harder for people to relocate for better jobs and living conditions while constraining investment into the development of housing and buildings.
5 min read