New Jersey’s residents deserve tax relief, and the state must stem the tide of out-migration. Affordable reforms in the near term could pave the way for more sweeping, and competitive, reforms to take root in the future.
Senate Republicans have advanced legislation to extend many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) alongside dozens of new provisions, following broadly similar legislation put forward by House Republicans.
7 min read
The Senate’s version of the OBBB restores the benefit of avoiding the SALT deduction cap with PTETs for all pass-through businesses, while placing new limits on the extent of the workarounds.
6 min read
Tax Foundation Europe’s Sean Bray had the opportunity to interview Dr. Stefanie Geringer, a postdoctoral researcher at the Faculty of Law at the University of Vienna and Masaryk University Brno, a certified tax advisor and manager of tax at BDO Austria, about the future of the EU tax mix.
14 min read
The House-passed reconciliation bill leaves out Trump’s promise to eliminate taxes on Social Security benefits, opting instead to expand the standard deduction for seniors.
Many countries incentivize business investment in research and development (R&D), intending to foster innovation. A common approach is to provide direct government funding for R&D activity. However, a significant number of jurisdictions also offer R&D tax incentives.
4 min read
If Illinois’ budget is enacted as-is, Illinois will newly tax 50 percent of Global Intangible Low-Taxed Income (GILTI) as of tax year 2025, retroactively increasing tax burdens for US businesses and further hindering Illinois’ business tax competitiveness.
7 min read
Senator Ted Cruz’s (R-TX) CREATE JOBS Act prioritizes permanence for the most cost-effective tax reforms—expensing and Neutral Cost Recovery (NCRS)—to boost growth in a relatively fiscally responsible way.
4 min read
If the federal government really wanted to make saving more accessible for taxpayers, it would swap the proposal for Trump Accounts to replace the complicated mess of savings accounts currently available with universal savings accounts.
4 min read
The final House bill makes impressive cuts to the IRA green energy tax credits, but it does so in part by introducing more complexity.
5 min read