Colorado Voters to Decide Fate of Longstanding Property Tax Limit
One of the many policy questions Colorado voters will be tasked with deciding this November is whether to amend the state constitution to repeal the Gallagher Amendment, a provision within the Colorado constitution that, since 1982, has limited residential property to 45 percent of the statewide property tax base. Repealing the Gallagher Amendment would cause residential property taxes to rise over time but would also enhance the neutrality and overall competitiveness of the tax code.
4 min read
Voters in Four States to Vote on Recreational Marijuana
Legalizing recreational marijuana is a hot topic in many states where the state budgets are in disarray because of the coronavirus pandemic and new revenue sources are being sought.
7 min read
Countries Eye Environmental Taxation
A recent OECD report on 2020 tax reforms reveals an increase in the number of environmentally-related tax policies, including gas taxes, carbon taxes, and taxes on electricity consumption.
5 min read
Designing a Global Minimum Tax with Full Expensing
The design and implementation of a global minimum tax is not simple and straightforward. There are dozens of challenging issues that policymakers will need to consider. So, when it comes to the way the minimum tax treats new investment, it seems clear that incorporating full expensing into the design would have significant benefits.
6 min read
Sweden’s 2021 Budget: Permanent Income Tax Cuts
Sweden’s 2021 budget outlines an aggressive plan to both cut income taxes in a permanent manner alongside multiple other tax cuts and spending increases
3 min read
Maryland Lawmakers Look to Alcohol for New Revenue
While there are legitimate reasons for increasing and levying excise taxes, legislatures should proceed with caution in the aftermath of the pandemic. Importantly, revenue from increased excise taxes should generally be allocated to spending related to the negative externalities as that revenue is too volatile and unreliable to rely on for long-term budget priorities.
3 min read
Republican Study Committee Workforce Plan Rethinks Education, Labor, and Welfare Tax Policy
The House Republican Study Committee released a proposal, “Reclaiming the American Dream,” which includes 118 policy recommendations to address education, labor, and welfare policy with the aim of expanding opportunity, liberty, and free enterprise for all Americans.
7 min read
How Should Wealth and Work Be Treated in the Tax Code?
Joe Biden recently released a piece reviewing his tax proposals, contrasting them with President Donald Trump’s tax ideas. A major theme within this piece can be summarized in the title: “A Tale of Two Tax Policies: Trump Rewards Wealth, Biden Rewards Work.”
4 min read
More Countries Target the Property Tax
A recent OECD report reveals a tendency towards higher property taxes, often in the form of base broadening, tax rate increases, or both.
5 min read
An Excise State of Mind
Even during a crisis when budgets are squeezed, policymakers should put their efforts into serious reforms of existing income and consumption taxes rather than leaving good tax policy behind for an excise state of mind.
6 min read