The economic crisis caused by the coronavirus pandemic poses a triple challenge for tax policy in the United States. Lawmakers are tasked with crafting a policy response that will accelerate the economic recovery, reduce the mounting deficit, and protect the most vulnerable.
To assist lawmakers in navigating the challenge, and to help the American public understand the tax changes being proposed, the Tax Foundation’s Center for Federal Tax Policy modeled how 70 potential changes to the tax code would affect the U.S. economy, distribution of the tax burden, and federal revenue.
In tax policy there is an ever-present trade-off among how much revenue a tax will raise, who bears the burden of a tax, and what impact a tax will have on economic growth. Armed with the information in our new book, Options for Reforming America’s Tax Code 2.0, policymakers can debate the relative merits and trade-offs of each option to improve the tax code in a post-pandemic world.
![OECD global tax deal CFC Rules, OECD CFC, OECD multinational, OECD minimum tax, OECD multinational companies](https://taxfoundation.org/wp-content/uploads/2019/06/international-globe-enhanced-e1560780254911-300x200.jpg)
CFC Rules Around the World
Our paper undertakes a review of controlled foreign corporation (CFC) rules around the world as a contribution to the global discussion over the possible expansion of existing anti-base erosion CFC regimes or the potential adoption of a minimum tax.
3 min read![church parking tax, church tax, nonprofit tax, charity tax](https://taxfoundation.org/wp-content/uploads/2019/06/church-religious-charity-parking-e1560531362720-300x187.jpeg)
![controlled foreign corporation rules](https://taxfoundation.org/wp-content/uploads/2019/02/international1-flag-flags-300x200.jpg)
Ripple Effects from Controlled Foreign Corporation Rules
Governments should recognize these trade-offs as they implement controlled foreign corporation (CFC) rules or change their tax policies in ways that increase taxes on foreign subsidiaries.
7 min read![short-term rental, rent income, hotel, airbnb, rental income](https://taxfoundation.org/wp-content/uploads/2019/06/airbnb-2384737_1920-300x173.jpg)
![Cory Booker renters tax credit affordable housing rent tax credit rent credit](https://taxfoundation.org/wp-content/uploads/2019/06/cory-booker-555-300x200.jpg)
![Martin Feldstein receives the Tax Foundation Distinguished Service Award](https://taxfoundation.org/wp-content/uploads/2019/06/TF_M_Feldstein_1-300x248.png)
![Italy income taxes, Italy tax, Italy taxes, Italy income tax, Italy tax reform Italy taxes](https://taxfoundation.org/wp-content/uploads/2019/06/Italy-tax-reform-e1560347902154-300x188.jpg)
![IRS SALT IRS state and local deduction SALT guidance SALT cap workaround charitable deduction SALT workaround](https://taxfoundation.org/wp-content/uploads/2019/06/IRS-e1560289434398-300x200.jpeg)
![Minnesota policymakers Minnesota lawmakers Minnesota state tax conformity Minnesota tax conformity Minnesota tax law Minnesota tax reform](https://taxfoundation.org/wp-content/uploads/2019/06/Minnesota-4-e1560261002695-300x200.jpg)
![New Jersey millionaire's tax Gov. Phil Murphy](https://taxfoundation.org/wp-content/uploads/2019/06/AdobeStock_169801022-e1559930755890-300x196.jpeg)