State Tax Ballot Measures to Watch on Election Day 2022
From income tax changes to cannabis legalization and taxation, here’s what voters decided on Election Day.
1 min read
Blog Articles
6146 Results
Should We Tax University Endowments?
Taxing university endowments has gained popularity recently, partly in response to the Biden administration’s forgiveness of student loan debt. Some view it as a means of holding universities accountable for the product they’re selling. Others view it as a tool to tamp down tuition rates or punish ideological opponents. But do these arguments hold water and is an endowment tax sound policy?
7 min read
Coloradans Could Lower Their Income Taxes This Fall
When Coloradans go to the polls this November, they will be given the opportunity to permanently lower their income taxes—or to increase those tax burdens.
4 min read
California Can’t Give Up Tax Increases
California is no stranger to high taxes, and the state has enough going for it that its economy can withstand higher tax burdens than would be viable in other parts of the country. But there’s always a tipping point.
5 min read
Tax Treatment of Social Security Benefits Remains a Confusing Matter for Taxpayers
The Social Security Administration (SSA) announced the cost-of-living adjustment for Social Security payments based on inflation over the previous year. This has brought renewed attention to how the tax code treats Social Security benefits, which can be a confusing subject for taxpayers.
3 min read
Inflation Is Surging, So Are Federal Tax Collections
Federal tax collections are approaching the highest levels in U.S. history set during World War II and again during the dot-com bubble in 2000. Meanwhile, federal spending in FY 2022 was over 25 percent of GDP—a level only exceeded during the height of the pandemic in 2020 and 2021, and during World War II.
3 min read
What the EU Gets Wrong About “Tax Fairness” and How Principled Tax Policy Can Help
A more principled EU tax system will increase economic growth across the economy and provide the government with stable finances for spending priorities.
7 min read
West Virginia Voters Will Determine the Scope of Potential State Tax Reform
West Virginia Amendment 2 would not directly reduce tangible personal property taxes—on cars, inventory, or machinery and equipment. It would, however, empower the legislature to consider such reforms.
4 min read
Tax Hike Proposals Live on Despite Being Dropped in the Inflation Reduction Act
President Biden proposed a 7-point hike in the corporate tax rate to 28 percent, a new minimum book tax on corporate profits, and higher taxes on international activity. We estimated these proposals would reduce the size of the economy (GDP) by 1.6 percent over the long run and eliminate 542,000 jobs.
6 min read
Tyreek Hill’s Tax Liability with Every NFL Franchise
When NFL star wide receiver Tyreek Hill weighed offers from the New York Jets and the Miami Dolphins, no doubt there was a lot on his mind. But one consideration towered over the rest, at least according to Hill himself: signing with the Jets “was very close to happening,” but “those state taxes man. I had to make a grown-up decision.”
7 min read
Focusing on Wealth Inequality Is Counterproductive
While there is more we can do to encourage lower- and middle-class households to save more and build wealth, a closer, more comprehensive look at the data and trends in other countries suggests that America’s wealth gap is not as alarming as some may think.
5 min read
The “Inflation Tax” Is Regressive
A new CBO report reveals that lower- and middle-income households are disproportionately shouldering the burden of this current inflation wave. And historical analysis suggests there is much more to come.
5 min read
Impact of Italian Elections on National Tax Policy and EU Fiscal Policy
In the EU, Italy plays an important role in economic policy. If the EU wants to further develop own resources, it will need the backing of the Italian government—which seems unlikely at the moment.
4 min read
Doing Tax Policy at the Ballot Is Not for the Faint of Heart
Some tax ballot initiatives will be straightforward, some will be complex, and—let’s be honest—some will be a drafting nightmare.
5 min read
The Sticks: Inflation Reduction Act’s Energy-Related Tax Increases
The Inflation Reduction Act primarily uses carrots, not sticks, to incentivize reductions in carbon emissions. It creates or expands tax credits for various low- or no-emission technologies, rather than imposing a generalized penalty for emissions, such as a carbon tax.
5 min read
Influential Tax Reformer Ernest S. Christian, Jr., Leaves Legacy—and Blueprint
Ernest S. Christian, Jr., (1937-2022) was one of the tax policy community’s most distinguished and influential experts, showing us how effective sound tax policy can be. He passed away on September 13th, leaving behind a legacy of tax reform.
4 min read
Breaking Down the Inflation Reduction Act’s Green Energy Tax Credits
The Inflation Reduction Act created numerous tax subsidy programs intended to accelerate the transition to a greener economy.
8 min read
Ensuring Tax Rates Don’t Rise with Inflation
If ever there was a paycheck protection program, defending people from bracket creep may be the most important one ever designed.
6 min read
States That Might Tax Student Loan Debt Cancellation
Will states consider student loan forgiveness a taxable event? In some states, the answer could be yes.
5 min read
Taxes and the UK’s new Prime Minister
In an already-challenging economic environment, new UK Prime Minister Liz Truss must get tax rates correct to avoid over-burdening a population and business sector facing immense uncertainty. Focusing only on rates while ignoring the base misses an opportunity for real, pro-growth reform.
4 min read