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US tax revenue by tax type or sources of government revenue in the United States

Sources of US Tax Revenue by Tax Type, 2025

In the United States, individual income taxes (federal, state, and local) are the primary source of tax revenue, followed by social insurance taxes (including payroll taxes for Social Security and Medicare), consumption taxes, property taxes, and corporate income taxes.

4 min read
Full TCJA extension fiscal challenges highlighted by latest CBO projections

Making the Corporate Alternative Minimum Tax Less Silly

While it would be more expensive than just a fix, and, on the margin, Congress should be looking for pay-fors rather than more tax cuts, full CAMT repeal may be much less expensive than previously thought.

4 min read
EV Tax Changes in the Budget Reconciliation Bill | Tax Foundation

Fixing Highway Funding in the Reconciliation Package

The EV fee in the reconciliation package would help the fiscal situation but would overcorrect the hole in the gas tax base EVs create. There are intermediate options, such as VMT taxes for EVs and commercial traffic or pairing flat EV fees with gas and diesel tax increases, that would be incrementally better than the reconciliation package’s approach.

7 min read
distilled spirits taxes by state 2025, state liquor taxes and state alcohol taxes

Distilled Spirits Taxes by State, 2025

The significant disparity in tax rates across states underscores the complex tax and regulatory environment governing distilled spirits.

6 min read
One Big Beautiful Bill Pros Cons

The Good, the Bad, and the Ugly in the One, Big, Beautiful Bill

Republicans have advanced legislation to extend many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) alongside dozens of new provisions. Any comprehensive tax legislation is going to have its wrinkles, and the “One, Big, Beautiful Bill” is no different.

8 min read
Sources of government revenue in the OECD tax revenue by country tax collections by country data

Sources of Government Revenue in the OECD, 2025

Developed countries raise tax revenue through individual income taxes, corporate income taxes, social insurance taxes, taxes on goods and services, and property taxes—the combination of which determines how distortionary or neutral a tax system is.

4 min read
The "Big Beautiful Bill" changes pass-through business taxes, including the 199a deduction (QBI deduction) and the SALT deduction cap.

SALT Cap Workarounds for Some Pass-Through Entities Are Threatened by One, Big, Beautiful Bill

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
republican tax bill, budget reconciliation

Where the Republican Tax Bill Falls Short

The House of Representatives just passed President Trump’s “One Big Beautiful Bill,” marking a critical step in the Republican tax agenda. At first glance, the bill might appear to complete the legacy of the 2017 Tax Cuts and Jobs Act (TCJA). But it falls short of emulating the TCJA’s core strengths in two key respects: it doesn’t prioritize economic growth, and it doesn’t simplify the tax code.

State Implications of the One Big Beautiful Bill No Tax on Car Loan Interest SNAP Cost Sharing No Tax on Tips and Overtime Medicaid Reductions for States Covering Undocumented Immigrants

State Implications of the One, Big, Beautiful Bill

As the US House hashes out its “One, Big, Beautiful Bill,” statehouse lawmakers are watching closely, given the impact of both its tax and spending provisions on state budgets.

12 min read
US Retaliatory Tax Policy Goals: US-EU International Taxes

What Are the Goals of Retaliatory Tax Policies?

The US Ways and Means Committee’s “Big Beautiful Bill” includes a retaliatory provision called Section 899, along with an expansion of the base erosion and anti-abuse tax (BEAT).

7 min read
Fiscal Forum: Future of the EU Tax Mix Jost Heckemeyer

Fiscal Forum: Future of the EU Tax Mix with Dr. Jost Heckemeyer

Sean Bray interviewed Professor of Business Accounting and Taxation at the University of Kiel, Jost Heckemeyer, about the future of the EU tax mix. The interview shows that there is a trade-off between stability and flexibility in European tax policymaking. It also shows that there ought to be a balance between fairness and competitiveness when thinking about improving tax policy.

16 min read