The Legacy of Harvard Economist Dale Jorgenson
Dr. Jorgenson’s work has been instrumental in convincing many in the tax policy community to take seriously the need to factor in the economic effects of taxation on capital formation, productivity, wages, and employment in forecasting the welfare and federal budget consequences of changes in tax policy.
4 min read
Pro-Growth Tax Reforms Throughout the Republican Study Committee’s FY 2023 Budget
The United States needs to grow its way out of inflation and set the economy up for continued growth—the tax code provides tools for policymakers to do just that.
3 min read
Biden’s FY 2023 Budget Would Result in $4 Trillion of Gross Revenue Increases
President Biden’s budget proposes several new tax increases on high-income individuals and businesses, which combined with the Build Back Better plan would give the U.S. the highest top tax rates on individual and corporate income in the developed world.
5 min read
3 Takeaways from the New Congressional Budget Office Outlook
The CBO projections show policymakers’ top priority over the next five years will need to be cleaning up our country’s fiscal situation while maintaining a pro-growth and competitive tax code.
5 min read
Wisconsin Losing Ground to Tax-Friendly Peers
While Wisconsin has long been one of the highest-tax states in the nation, that distinction is increasingly detrimental as businesses and individuals enjoy increased economic and geographic mobility.
6 min read
Two Dozen States Show Why the Kansas Critique of Income Tax Cuts Is Mistaken
The Kansas experience is so infamous that “what about Kansas?” is almost guaranteed to be a question—sometimes as a retort, but often a genuine expression of concern—any time any state explores tax relief. But what about the other two dozen states that have cut their income taxes since then?
6 min read
Oklahoma Should Prioritize Pro-Growth Relief, Not Gimmicky Rebate Checks
If Sooner State policymakers want to use a portion of their higher revenues to make the economy work better for all Oklahomans, they should consider repealing the franchise tax, trimming the income tax, or both—paired, if desired, with targeted aid to those in the greatest need—not writing a single round of gimmicky checks.
5 min read
Delaying R&D Amortization Generates Short-Term Revenue but No Long-Term Economic Benefit
Starting this year, firms must amortize their research and development (R&D) expenses over five years rather than immediately deduct them from taxable income, a policy change designed to raise federal tax revenue in the short term.
5 min read
Time for an Updated Impact Assessment of the Global Tax Deal
Treasury Secretary Janet Yellen offered estimates from the EU Tax Observatory as evidence that the Polish government would benefit from supporting the global tax deal. Unfortunately, evidence was, at best, out of date.
2 min read
Europe Opened the Pandora Box of Reduced VAT Rates
With this new VAT directive, the EU has invited member states to adopt policies that create new complexities, are poorly targeted, and undermine an Own Resource.
5 min read