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![distributed profits tax cash-flow tax model for business taxes stock buybacks dividends](https://taxfoundation.org/wp-content/uploads/2019/07/calculator-e1562682249959-300x200.jpeg)
![Wyden mark-to-market tax proposal. Explore Wyden financial services tax proposals, including Wyden carried interest tax, Wyden derivatives tax, and Wyden hedge funds and private equity tax](https://taxfoundation.org/wp-content/uploads/2021/08/Capitol-CROP-e1631034712985-300x141.jpg)
Testimony: Reviewing Recent Federal Tax Policies and Considering Pro-Growth Reforms
Lawmakers should focus on simplifying the federal tax code, creating stability, and broadly improving economic incentives. There are incremental steps that can be made on the path to fundamental tax reform.
26 min read![Carbon Border Adjustment Mechanism EU CBAM carbon price carbon tariffs US global minimum tax US tax incentives Build Back Better tax rate on gilti Global Intangible Low Tax Income (GILTI) Global intangible low-taxed income US cross-border tax reform and GILTI Global Intangible Low Tax Income. Foreign tax credits](https://taxfoundation.org/wp-content/uploads/2021/02/global-map-international-300x200.jpg)
JCT Analyzes Federal Revenue Effects of Pillar Two
The JCT analysis raises some useful questions for the U.S. domestic debate over Pillar Two. The Treasury Department should examine its support for an agreement that will reduce its own revenue intake. But it is also worth noting that the principal mechanism for the revenue reduction—the foreign tax credit—is a policy already baked into U.S. law, including the Republican-enacted global minimum tax from 2017. The OECD deal merely takes advantage of this longstanding feature.
6 min read![Cyber Monday, Post-Wayfair Edition, South Dakota v. Wayfair online sales tax](https://taxfoundation.org/wp-content/uploads/2018/11/Cyber-Monday-300x200.jpg)
The Wayfair Sales Tax Ruling, Five Years Later
It’s the 5th anniversary of the groundbreaking Wayfair Supreme Court decision–a ruling that marked a new era of sales tax collection and changed how we think about taxation in the digital age.
![House GOP tax plan American Families and Jobs Act would expand Tax Cuts and Jobs Act opportunity zones](https://taxfoundation.org/wp-content/uploads/2023/06/opportunity-zones-3-e1687382819859-300x197.jpg)
How Would the American Families and Jobs Act Change Opportunity Zones?
House Republicans are proposing to expand the Opportunity Zone program and alter its reporting requirements as part of a new suite of tax bills packaged as the American Families and Jobs Act.
4 min read![NC budget North Carolina tax reform proposals in the NC budget taxes 2023](https://taxfoundation.org/wp-content/uploads/2023/06/North-Carolina-tax-reform-e1687361986889-300x200.jpg)
North Carolina’s Budget Should Prioritize Pro-Growth Structural Reforms
As fiscal year 2023 draws to a close, North Carolina’s House and Senate have each passed their own versions of the biennial budget for fiscal years 2024-25. While legislative leaders have generally agreed to overall spending levels, negotiations remain ongoing to resolve different approaches to tax policy.
7 min read![Texas property tax relief and Texas property tax reform explore Texas property taxes](https://taxfoundation.org/wp-content/uploads/2023/06/Texas-state-capitol-e1687281337660-300x199.jpg)
Texas Lawmakers Should Deliver Principled Property Tax Relief
Texas’s robust surpluses create an opportunity to use state funds to lower local property taxes. However, it remains important for legislators to pursue a principled approach to rate compression, rather than enacting a plan that will simply shift the tax burden in nonneutral ways.
3 min read![Windfall Profits Taxes in Europe, August 2023](https://taxfoundation.org/wp-content/uploads/2023/06/WindfallTaxes_Aug23-300x259.png)
What European Countries Are Doing about Windfall Profit Taxes
It’s unlikely these implemented and proposed windfall taxes will achieve their goals of raising additional revenues without distorting the market. Instead, they would penalize domestic production and punitively target certain industries without a sound tax base.
13 min read![carbon tariff and carbon border tax proposed in Prove It Act by Sens. Kevin Cramer (R-ND) and Christopher Coons (D-DE) carbon price and Foreign Pollution Fee Act](https://taxfoundation.org/wp-content/uploads/2023/06/carbon-tariff-carbon-border-tariff-300x190.jpg)
What Would a Carbon Tariff Achieve?
Sens. Kevin Cramer (R-ND) and Christopher Coons (D-DE) have recently introduced a bill laying the groundwork for a possible solution to the problem: a tax on the carbon content of imports. But it falls short of the optimal approach in several ways.
4 min read![RSC budget republican study committee republican tax plan 2024](https://taxfoundation.org/wp-content/uploads/2023/06/RSC-budget-republican-study-committee-tax-plan-2024-300x214.jpg)
Republican Study Committee’s Tax Plan Simplifies the Tax Code and Offers Pro-Growth Ideas
By extending bonus depreciation and introducing neutral cost recovery, the RSC budget would significantly improve the treatment of investment leading to increased growth, expanded employment, and higher wages.
3 min read