Why Are the Individual Tax Cuts Expiring?
The TCJA improved the U.S. tax code, but the meandering voyage of its passing and the compromises made to get it into law show the challenges of the legislative process.
6 min read
How to Improve the Base Erosion and Anti-Abuse Tax
BEAT is intended to address a legitimate problem, and there are virtues to BEAT’s overall strategic approach; however, its execution leaves room for improvement.
7 min read
State Income Taxes and the 2024 NFL Draft Class
Here’s how much NFL players can expect to pay in state and local income taxes—to all relevant states—at multiple salary levels, by team.
7 min read
Americans Are Still Paying for the Trump-Biden Tariffs
If reelected, President Trump would drastically escalate the trade war he started during his first term. But what often goes unnoticed is President Biden’s role in continuing Trump’s first trade war. In fact, more tax revenue from the trade war tariffs has been collected under Biden than under Trump.
5 min read
When Looking to Reform Inflation Reduction Act, Start with EV Credits
Over the next 10 years, the IRA’s energy tax credits are projected to cost north of $1 trillion, adding to the federal government’s budgetary challenges and burgeoning debt.
6 min read
New National Tax Literacy Poll Highlights Need for Better Tax Education
Despite taxes playing a significant role in personal finances and being levied on a sizable portion of the U.S. population, most Americans are not just unhappy with the current tax code but also do not understand it.
4 min read
Vermont Tax Proposals Would Leave the State and Vermonters Behind
With proposals to adopt the nation’s highest corporate income tax, second-highest individual income tax, and most aggressive treatment of foreign earnings, as well as to implement an unusually high tax on property transfers, Vermont lawmakers have no shortage of options for raising taxes dramatically.
7 min read
Portugal’s Personal Income Tax System: High Top Rate, Threshold, and Tax Credits
Portugal’s personal income tax system levies high tax rates on an unusually narrow set of high earners, striking a poor balance between earnings incentives and revenue contributions.
4 min read
Short FormDoes the Federal Tax Code Privilege the Rich?
The federal income tax drives the tax code’s progressivity. In 2021, taxpayers with higher incomes paid much higher average income tax rates than taxpayers with lower incomes.
4 min read
Can States Afford Their Recent Tax Cuts?
With state tax revenues receding from all-time highs, there’s been a great deal of handwringing about whether states can afford the tax cuts adopted over the past few years. Given that 27 states reduced the rate of a major tax between 2021 and 2023, is there reason for concern?
4 min read