As of 2020, there were 448 million active cell phone and wireless plans in the U.S. than there were Americans. The taxes on those plans brought in approximately $11.3 billion and constituted a record 24.96 percent of the cost of an average cell phone bill. Explore why cellphone taxes are climbing, the places they’re the highest, the consumers they impact the most, and how things can be improved.
Two major provisions in the federal tax code have been limited since the Tax Cuts and Jobs Act (TCJA) of 2017: the state and local tax (SALT) deduction and the home mortgage interest deduction (MID).
3 min read
Under the House Ways and Means plan to raise taxes on corporations and individuals, the integrated tax rate on corporate income would rise to the third highest in the OECD. To reduce this burden, policymakers could explore integrating the individual and corporate tax systems.
8 min read
This year’s robust corporate tax collections calls into question efforts by the administration and congressional Democrats to increase the corporate tax rate and raise other corporate taxes based on claims of relatively low tax collections following the Tax Cuts and Jobs Act (TCJA) in 2017.
2 min read
Taxes and fees on the typical American wireless consumer increased again this year, to a record 24.96 percent.
32 min read
Tax Foundation testimony on the diversity of tax systems within the EU, three important ways to consider reforms by Member States, and several recommendations for the EU Parliament’s Subcommittee on Tax Matters to consider.
In an effort to raise roughly $100 billion, the House proposal would double cigarette taxes and increase all other tobacco and nicotine taxes to comparable rates—a strategy with severe unintended consequences.
5 min read
If Congress wants to reduce profit shifting, the proposal from the Ways and Means Committee is not an effective tool for this.
7 min read
In the past three years, eight European OECD countries changed their top personal income tax rate, of which four of them cut their top personal income tax rates.
3 min read