If the spending in the $3.5 trillion budget resolution were financed entirely from tax increases, it would rival as a share of GDP the tax increases used to finance World War II and the Korean War.
3 min read
Our analysis illustrates how restoring the SALT deduction now would be more regressive than under prior law, strengthening the case for keeping the cap in place.
4 min read
Florida is now the ninth state to implement or adopt a corporate income tax cut in 2021, with the state’s new rate the nation’s second lowest—for now.
6 min read
Federal policy is hard. Federal health care policy during reconciliation while governing with razor-thin margins is really, really hard. We break down the debate on Capitol Hill over drug pricing and what the tradeoffs would be of having the federal government set prescription drug prices.
One of the Senate’s proposals to pay for the Build Back Better Act is a federal excise tax on virgin plastics, which are plastics that are not reprocessed or recovered.
4 min read
In general, the effective tax rates on the foreign profits of U.S. multinationals are not that low relative to the U.S. tax rate, contrary to popular rhetoric.
7 min read
A carbon tax would be a less economically harmful pay-for than either personal or corporate income tax hikes and a more efficient way to reduce carbon emissions than green energy tax credits, but would come with other trade-offs.
4 min read
As Congress considers President Biden’s proposal to tax unrealized capital gains at death, the history of previous efforts suggests it faces a perilous road ahead. Lawmakers must resolve tricky design and implementation details that derailed past attempts to change how capital gains are treated when assets are passed from one generation to the next.
4 min read