Sources of Government Revenue in the OECD, 2024
Designing tax policy in a way that sustainably finances government activities while minimizing distortions is important for supporting a productive economy.
3 min readDesigning tax policy in a way that sustainably finances government activities while minimizing distortions is important for supporting a productive economy.
3 min readThe “Bring Chicago Home” ballot measure would make Chicago’s tax structure substantially less neutral by raising taxes on some property transfers while decreasing taxes on others.
6 min readThe global economy needs policymakers who are invested in seeing growth recover and avoiding unnecessary barriers to cross-border trade and investment. The challenges countries face will become even more difficult to solve in a stagnant global economy.
5 min readPortugal’s turnover tax on real property transfers places a serious drag on economic growth by making it harder for people to relocate for better jobs and living conditions while constraining investment into the development of housing and buildings.
5 min readThe 2021 tax year was the fourth since the Tax Cuts and Jobs Act (TCJA) made many significant, but temporary, changes to the individual income tax code to lower tax rates, widen brackets, increase the standard deduction and child tax credit, and more.
9 min readWe’re examining the differences between the broad incentives provided by the Tax Cuts and Jobs Act and the targeted approach of the Inflation Reduction Act and the CHIPS and Science Act.
Unless Congress acts, Americans are in for a tax hike in 2026.
3 min readIn many European countries, investment income, such as dividends and capital gains, is taxed at a different rate than wage income.
2 min readPresident Biden’s FY 2025 budget amounts to a gross tax hike exceeding $5.1 trillion over 10 years.
11 min readIn his FY 2025 budget, Illinois Gov. Pritzker outlined a number of proposed tax changes, including to individual and corporate income taxes, state sales taxes, and sports betting excise taxes.
7 min readWhile the approaches differ, they share a reliance on similar linkages: new capital investment drives productivity growth, which grows the economy and raises wages for workers.
37 min readIf a multilateral solution to remove digital services taxes (DSTs) is not agreed to, then DSTs will continue to spread and mutate with negative impacts on some of the most innovative companies in the world.
14 min readThough providing permanent R&D expensing alone would not be a China-competition magic bullet, it is a no-brainer place to start. In this technological race, we should first make sure we have not tied our own shoes together.
4 min readDoes your state have a small business exemption for machinery and equipment?
3 min readPortugal has the second highest top corporate tax rate in the OECD at 31.5 percent, including multiple top-up taxes. Unlike most OECD countries, Portugal imposes a highly progressive tax structure on corporate income.
6 min readExpanding Virginia’s sales tax base to include B2B digital transactions could lead to tax pyramiding, hide the true cost of government, and make the sales tax system much less neutral and transparent.
5 min readCreative options including changes in Social Security benefits growth for higher earners and reforms to how Medicare compensates for health services should be on the table, along with broad-based and well-structured tax reforms.
6 min readAs the world of tax policy becomes more interconnected, the Tax Foundation is stepping up, recognizing the pressing need for informed and principled tax policy education in an ever-evolving landscape.
Pillar Two, the international global minimum tax agreement, has a considerable chance of failing and may ultimately allow the same problems it was designed to address.
6 min readOnly three European countries levy a net wealth tax—Norway, Spain, and Switzerland. France and Italy levy wealth taxes on selected assets.
4 min read