These four Tax Foundation tax plans demonstrate ways in which lawmakers could achieve permanent, pro-growth tax reform while keeping the level of federal revenue and the distribution of the tax burden roughly the same as current law.
25 min read
The elimination of tax expenditures is a popular way to pay for tax reform, but not all tax expenditures are equally worthy of elimination. It is important to ask, for each expenditure, whether it serves a reasonable purpose and whether it accomplishes that purpose in a reasonable way.
23 min read
Aside from hurting low-income earners, the poor revenue performance of Philadelphia’s soda tax, 24 times higher than the excise rate on beer, threatens the sustainability of the education programs it is intended to fund.
12 min read
A well-designed territorial tax system would reduce the incentive for companies to invert, encourage businesses to invest in and expand operations throughout the world, and allow capital to flow more freely back to the U.S., but would also come with some new challenges.
28 min readEstate and inheritance taxes reduce investment, discourage business expansion, and sometimes drive wealthy taxpayers out of state. It’s little wonder that states are under pressure to reduce or eliminate them.
44 min read
While most states enact tax changes at the beginning of the calendar year, a number of them implement changes at the beginning of the fiscal year. Eight states have tax changes that will take effect on July 1, 2017, the beginning of the 2018 fiscal year.
8 min read
Real tax reform should boost incomes for all. A corporate income tax cut could be a means to do that, but not if it’s temporary. A temporary cut is less likely to promote growth and less likely to benefit American workers.
14 min read
Interest deductibility creates holes in the tax base, distorts corporate investment strategies, and contributes to a potentially dangerous macroeconomic environment of overleveraging.
17 min read