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
Lawmakers should finish the work they have begun over the past few decades, tackling tax rates and structures to give the state a leg up in an era of enhanced competition.
84 min read
A recent proposal in Minnesota exempting certain nonresident workers from having to file and pay income taxes would reduce compliance costs for business travelers and their employers at limited cost to the state.
4 min read
With property tax bills on the rise, homeowners are searching for answers—and some even want to abolish the tax altogether. In this episode, we break down why property taxes are increasing, common but flawed solutions, and why the property tax remains an economically efficient revenue source.
The Tax Foundation uses and maintains a General Equilibrium Model, known as our Taxes and Growth (TAG) Model to simulate the effects of government tax and spending policies on the economy and on government revenues and budgets.
4 min read
While fixing infrastructure funding has not been a focus of the tax expiration debate, it would be a smart way to pay for at least a small portion of the expiring tax cuts. In recent years, highway funding has exceeded highway revenues, and the introduction of electric vehicles has made the gas tax increasingly obsolete.
7 min read
Property taxes are the primary tool for financing local governments. While no taxpayers in high-tax jurisdictions will be celebrating their yearly payments, property taxes are largely rooted in the benefit principle of taxation: the people paying the property tax bills are most often the ones benefiting from the services.
9 min read
While capping C-SALT has superficial appeal in perceived parity with personal limits, it rests on flawed assumptions about the nature of individual and corporate income taxes.
7 min read