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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

6180 Results
Junk fees ban from the FTC Biden tax hike proposals live on Build Back Better Inflation Reduction Act Biden tax rates

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 taxes Tyreek hill state taxes and tax liability NFL federal tax on sports betting, excise tax on sports betting. BILL TO REPEAL EXCISE TAX ON LEGAL SPORTS BETS, Rep. Dina Titus (D-NV) and Rep. Guy Reschenthaler (R-PA) Super bowl sports betting. States Positioned for a Super Bowl Win with New Taxes on Sports Betting. The American Gaming Association estimates that Americans will wager a total of $4.3 billion on the highly anticipated matchup of the defending champion Kansas City Chiefs vs. the Tampa Bay Buccaneers in Tampa.

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
wealth inequality trends cbo bernie sanders wealth gap social security benefits

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
Who pays inflation tax explore inflation causes like debt and money creation and inflation effects

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
Inflation Reduction Act energy tax increases methane emissions superfund tax and coal taxes methane emissions and methane fee natural gas

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
Next UK Prime Minister Election or UK Conservative Party or Tory Leadership Election between Rishi Sunak tax policies and and Liz Truss tax policies

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
Idaho flat income tax reform Idaho flat tax Idaho income tax reform Idaho to Consider Flat Tax in Special Session

Idaho to Consider Flat Income Tax in Special Session

As Idaho attempts to further solidify its position as a growth-oriented, taxpayer-friendly state this special session, other states should look to its example and pursue similar reforms.

6 min read
New Mexico business tax climate ranking New Mexico business tax reform New Mexico tax reform

New Mexico and the Question of Tax Competitiveness

Every change to a state’s tax system makes its business tax climate more or less competitive compared to other states and makes the state more or less attractive to business.

7 min read
Tax compliance costs of IRS regulations tax complexity and tax simplification Chaotic IRS filing season shows flaws in IRS benefits distribution, IRS tax credit administration, IRS budget, and 2022 tax season with filing taxes Summary of the Latest Federal Income Tax Data, 2022 Update 2022 federal income tax data

The Tax Compliance Costs of IRS Regulations

In a pattern that has become all too common in recent decades, the newly enacted Inflation Reduction Act (IRA) added yet another layer of complexity to an already complex and burdensome federal tax code.

9 min read
Carbon tax revenue recycling for border-adjusted carbon tax border adjustments Taxing Big Oil Profiteers Act Wyden excess profits tax oil and gas companies Carbon Tax definition, Carbon Emissions, CO2 Emissions, Global Temperatures, Climate Change, AOC, Ocasio-Cortez, Green New Deal, energy, environomental, payroll tax cut

“Taxing Big Oil Profiteers Act” Risks Disincentivizing Production, Inventory

In response to high oil prices, Sen. Wyden has proposed raising taxes on oil and gas companies in three ways. His “Taxing Big Oil Profiteers Act” would create an additional 21 percent tax on so-called excess profits earned over 10 percent of revenues of oil companies with annual revenues over $1 billion; levy a tax on stock buybacks; and remove last-in, first-out (LIFO) tax treatment of inventory accounting.

7 min read