If the federal government really wanted to make saving more accessible for taxpayers, it would swap the proposal for Trump Accounts to replace the complicated mess of savings accounts currently available with universal savings accounts.
5 min read
Our analysis finds that the Trump tariffs threaten to offset much of the economic benefits of the new tax cuts, while falling short of paying for them.
3 min read
The One Big Beautiful Bill is now law—but what does it actually do? In this episode, we break down the new tax law’s key provisions, including who benefits, who doesn’t, and what it means for the economy, tax certainty, and the federal deficit.
Alabama’s 2025 legislative session mostly demonstrates a commitment to pro-growth tax policies that enhance competitiveness and reduce compliance burdens.
4 min read
We estimate the One Big Beautiful Bill Act would increase long-run GDP by 1.2 percent and reduce federal tax revenue by $5 trillion over the next decade on a conventional basis.
11 min read
President Trump signed the One Big Beautiful Bill Act into law on July 4, 2025.
16 min read
The increased senior deduction with the phaseout would deliver a larger tax cut to lower-middle- and middle-income taxpayers compared to exempting all Social Security benefits from income taxation and would not weaken the trust funds as much. But given the temporary nature of the policy, it would increase the deficit-impact of the reconciliation bills without boosting long-run economic growth.
3 min read
With reports that Republican legislative leaders and Wisconsin Gov. Evers (D) have reached a budget deal for FY 2026 and 2027, it is worth examining two significant tax relief proposals included in the plan.
7 min read
Congress is racing to pass the One Big Beautiful Tax Bill before the July 4 deadline. In this episode, Kyle Hulehan and Erica York break down what just happened over the weekend, what’s actually in the bill, and what comes next as the House and Senate try to reconcile their differences.
Summer has arrived, and states are beginning to implement policy changes that were enacted during this year’s legislative session (or that have delayed effective dates or are being phased in over time).
28 min read
The House-passed reconciliation bill leaves out Trump’s promise to eliminate taxes on Social Security benefits, opting instead to expand the standard deduction for seniors.
The final House bill makes impressive cuts to the IRA green energy tax credits, but it does so in part by introducing more complexity.
5 min read
President’s Trump’s policies would throw high-tax states a life raft as they swim against the tide—before potentially hitting all states with a tariff-induced economic tsunami that could force lawmakers’ hands and reverse recent tax relief.
Rather than permanently expanding a complicated, nonneutral tax break, Congress should prioritize permanence for the most neutral and pro-growth policies like bonus depreciation and R&D expensing.
6 min read
Our preliminary analysis finds the tax provisions increase long-run GDP by 0.8 percent and reduce federal tax revenue by $4.0 trillion from 2025 through 2034 on a conventional basis before added interest costs.
9 min read
As the Senate considers next steps for the House-passed “big, beautiful” tax bill, the battle lines have been drawn for a showdown over the state and local tax (SALT) deduction.
From generous tax breaks to costly trade-offs, the House GOP’s One, Big, Beautiful Bill has a little of everything. It’s a sweeping attempt to extend key provisions of the 2017 Tax Cuts and Jobs Act before they expire in 2026—but what’s actually in it?
It’s been a whirlwind 24 hours in tariff news: first, a trade court blocked Trump’s sweeping new tariffs, calling them executive overreach. Then, a federal appeals court reinstated them—at least for now. We break down what happened, what’s next, and why it matters.
Florida’s latest property tax debate highlights the familiar challenge of prioritizing pro-growth tax policy while tackling rising property tax burdens.
6 min read
For owners of pass-through businesses, the reconciliation package (1) raises the state and local tax (SALT) deduction cap, (2) denies the benefit of pass-through entity-level taxes that had previously worked around the SALT cap for such pass-through businesses, and (3) increases the Section 199A deduction for qualifying pass-through entities.
4 min read