In a letter to lawmakers, the 46th President said that his $5.8 trillion budget package would “[grow] our economy, while ensuring that the wealthiest Americans and the biggest corporations begin to pay their fair share.” We break down what the President is proposing for this upcoming fiscal year and what its impact would be on the U.S. economy in the face of record-high inflation.
Mississippi policymakers delivered the largest tax cut in state history, providing meaningful relief for taxpayers by cutting individual income tax rates.
7 min read
Lawmakers in Colorado, and in the several other states considering flavor bans, should think twice before following in the footsteps of Massachusetts. A statewide ban on flavored tobacco products is more than likely to costs millions of dollars, increase smuggling, and have a negligible effect on public health.
5 min read
The Biden administration should lift the Trump administration’s tariffs, as they have failed in their objective to bring better trading practices and instead brought about significant damage to U.S. businesses and workers.
6 min read
After a whirlwind of cuts and reforms in 2021, it looks like 2022 might be an even bigger year for state tax codes. Republican and Democratic governors alike used their annual State of the State addresses to call for tax reform, and there is already serious momentum from state lawmakers nationwide to get the job done.
3 min read
States are flush with cash, but taxpayers’ purchasing power is being eroded by high inflation. Tax rebates, gas tax holidays, and other temporary tax expedients have the potential to add to existing inflation—but good intentions do not always make for good policy.
5 min read
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min read
In recent years, EU countries have undertaken a series of tax reforms designed to maintain tax revenue levels while supporting investment and economic growth. However, not all tax reforms were created equal.
7 min read
The U.S. tax system is biased against capital investments. Ending these tax penalties would boost economic output, productivity, and employment.
4 min read
Digital advertising taxes are poor tax policy and legally dubious in the extreme. Maryland has a long fight ahead of it—all for the right to enact a tax for which lawmakers struggle to even articulate a rationale.
5 min read