Reviewing How TCJA Impacted Mortgage Interest and State and Local Tax Deductions
Two major provisions in the federal tax code have been limited since the Tax Cuts and Jobs Act (TCJA) of 2017: the state and local tax (SALT) deduction and the home mortgage interest deduction (MID).
3 min read
Higher Taxes Under House Ways and Means Plan Emphasize Need for Corporate Integration
Under the House Ways and Means plan to raise taxes on corporations and individuals, the integrated tax rate on corporate income would rise to the third highest in the OECD. To reduce this burden, policymakers could explore integrating the individual and corporate tax systems.
8 min read
Corporate Tax Revenue Hit an All-Time High in 2021
This year’s robust corporate tax collections calls into question efforts by the administration and congressional Democrats to increase the corporate tax rate and raise other corporate taxes based on claims of relatively low tax collections following the Tax Cuts and Jobs Act (TCJA) in 2017.
2 min read
Should Tax Policy Play a Role in Tobacco Harm Reduction?
In an effort to raise roughly $100 billion, the House proposal would double cigarette taxes and increase all other tobacco and nicotine taxes to comparable rates—a strategy with severe unintended consequences.
5 min read
How Would the Ways and Means Proposal Affect Profit Shifting?
If Congress wants to reduce profit shifting, the proposal from the Ways and Means Committee is not an effective tool for this.
7 min read
Regional Tax Competition Is Stopping Spain from Becoming Europe’s Tax Hell
Tax competition has proven to be key in keeping tax hikes under control in some regions of Spain as regional governments look to copy Madrid’s tax reforms.
6 min read
Which Industries Would the Tax Hikes Target?
Using Tax Foundation’s Multinational Tax Model, we estimate the effective tax rates on controlled foreign corporation (CFC) profits under current law and under each of the proposed plans for business tax hikes.
9 min read
Placing the House Build Back Better Act Tax Increases in Historical Context
If the spending in the $3.5 trillion budget resolution were financed entirely from tax increases, it would rival as a share of GDP the tax increases used to finance World War II and the Korean War.
3 min read
2017 Tax Changes Increase the Benefit of Uncapping SALT Deductions for High Income Taxpayers
Our analysis illustrates how restoring the SALT deduction now would be more regressive than under prior law, strengthening the case for keeping the cap in place.
4 min read
Florida Lawmakers Should Provide Certainty Around the State’s Corporate Income Tax Rate Reduction
Florida is now the ninth state to implement or adopt a corporate income tax cut in 2021, with the state’s new rate the nation’s second lowest—for now.
6 min read