The Inflation Reduction Act (IRA) introduced a series of new targeted tax breaks, many of which seem to be much more expensive than originally forecasted. Understandably, repealing these subsidies is a key option for policymakers looking to pay to extend the expiring broader tax cuts passed in the Tax Cuts and Jobs Act (TCJA).
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An update to the EU’s Excise Tax Directive that embraces harm reduction principles would save lives and provide a steady stream of revenue to support public health expenditures.
22 min read
Contrary to the president’s promises, the tariffs will cause short-term pain and long-term pain, no matter the ways people and businesses change their behavior.
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The amount of revenue states raise through roadway-related revenues varies significantly across the US. Only three states raise enough revenue to fully cover their highway spending.
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As the property tax debate continues in Kansas, two new proposals have emerged that are much better structured, and would be more effective, than the assessment limits. However, policymakers should consider additional modifications.
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As we learned in the first trade war, retaliation will exact harm on US exporters by lowering their export sales—and the US-imposed tariffs will directly harm exporters too. US-imposed tariffs can burden exporters by increasing input costs, which acts like a tax on exports.
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Tax legislation in 2025 may have good reason to address international corporate income taxes, because of scheduled changes slated to go into effect or because of international developments like the Pillar Two agreement.
63 min read
In a perilous economic and fiscal environment, with instability created by Trump’s trade war and publicly held debt on track to surpass the highest levels ever recorded within five years, a lot rides on how Republicans navigate tax and spending reforms in reconciliation.
6 min read
While Governor Moore’s tax plan is still being fiercely debated in Maryland, legislators have introduced several additional proposals—mostly aimed at increasing taxes on businesses—to generate revenue and address the state’s chronic budget deficit.
6 min read
Capital gains taxes create a bias against saving, leading to a lower level of national income by encouraging present consumption over investment.
5 min read