Lexicons have changed these past two years. From “coronavirus” and “PCR test” to “Zoom” and “Slack,” our changing vocabulary reflects a changed world. Another word has taken on new significance as well, and that word is “mobility.”
While nothing new, mobility accurately describes the new economy, with the rise of remote work and increased opportunities for advancement and innovation. If state policies stand in the way of upward mobility, then increasingly, workers and businesses will respond by taking advantage of their enhanced geographic mobility.
States are unprepared for the ongoing shift to remote and flexible work arrangements, or for the industries and activities of today, to say nothing of tomorrow. In some states, moreover, existing tax provisions exacerbate the impact of high inflation and contribute to the supply chain crisis. Outdated tax codes can stunt economic growth, but states have the opportunity to embrace the future and set their tax codes for growth.
The Tax Foundation is hosting a Talking Tax Reform webinar to discuss eight tax policy reforms to embrace mobility and modernize tax codes for future economic growth. These policy options remove impediments to new living and working arrangements, enhance states’ attractiveness for increasingly mobile employers and employees, and respond to greater economic uncertainty and rising inflation.
Our experts, Jared Walczak and Katherine Loughead, will overview the landscape, identify areas for improvement among the states, and explain each provision, providing policymakers a road map for an adaptive, pro-growth tax code. After the presentation, Jared and Katherine will answer questions from the audience and questions sent in through registration.
Tune in on Wednesday, January 26th at noon ET to learn how states can prepare their tax codes for the new economy. Please register and find our full report on the eight reforms below.