With Secure 2.0, lawmakers recognized and addressed several flaws in the tax code’s treatment of saving and retirement, but there is continued work to be done simplifying and expanding savings and retirement options for taxpayers.
5 min read
Americans are saving less. While the U.S. saving rate has regularly lagged behind its peers, it has yet to return to pre-pandemic levels. Increasingly, people are turning to credit cards to fill the gaps in their budgets.
What historical lessons of wartime finance can Ukrainian and EU policymakers learn to put Ukraine’s economy on a path to success during, and especially after, the war?
5 min read
Of the 225 jurisdictions around the world, only six have increased their top corporate income tax rate in 2023, a trend that might be reversed in the coming years as more countries agree to implement the global minimum tax.
16 min read
A multilateral agreement that eliminates digital services taxes would be valuable, but not if it introduces more complexity and leaves unanswered many questions about the impacts on the U.S. tax base.
8 min read
With the expiration of major provisions in the TCJA looming, the upcoming debate is colored by policies that already expired or will expire in the next few years, like the child tax credit, state and local tax deduction, and TCJA business-related provisions. The House Ways and Means Committee has also debated legislation to expand the standard deduction, among other changes, that could serve as a bargaining chip in future negotiations. Our experts will explain the policy implications and consider the impacts on taxpayers of various provisions. We’ll also explore the options for a potential legislative package that could coalesce in the coming months.
The fate of the $10,000 cap on state and local tax (SALT) deductions remains uncertain, with some policymakers pushing for an increase or repeal of the cap before its scheduled expiration in 2026.
6 min read
All policy choices involve trade-offs—but occasionally, the ratio of costs and benefits is shockingly lopsided. Adopting a de minimis exemption for tangible personal property (TPP) taxes is just such a policy: one which massively reduces compliance and administrative burdens at trivial cost.
18 min read
When it comes to comprehensive tax reform, poorly designed local tax policies can offset any improvements brought about by state tax policies.
6 min read
People respond to incentives. As tax rates increase or products are banned from sale, consumers and producers search for ways around these penalties and restrictions.
17 min read