Federal spending, deficits, and debt are at unsustainable levels. The proposed federal budget is laden with redundant programs, obsolete programs, corporate welfare, and nationalized industries. As Congress begins to craft the FY 2024 federal budget, it needs to establish a process of systematically reviewing programs and priorities.
12 min read
The Washington Supreme Court not only gave its blessing to a capital gains tax that runs afoul of the state constitution, but it also set out a welcome mat for legislators eager to implement a broader income tax.
7 min read
A recently enacted bill in Mississippi made the Magnolia State only the second state in the country to make full expensing permanent. The bill joins reductions to the individual income tax and capital stock tax rates, already in progress, as model, pro-growth reforms for the region.
5 min read
In many countries, corporate profits are subject to two layers of taxation: the corporate income tax at the entity level when the corporation earns income, and the dividend tax or capital gains tax at the individual level when that income is passed to its shareholders as either dividends or capital gains.
3 min read
As housing prices are rapidly increasing, and property tax bills along with them, the property tax has come into the spotlight in many states. The design of a state’s property tax system can affect how attractive that state is to businesses and residents.
9 min read
According to our analysis, President Biden’s budget would reduce long-run economic output by about 1.3 percent and eliminate 335,000 FTE jobs. See what tax policies the president is proposing.
17 min read
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min read
The White House says this budget will reduce the deficit, strengthen Medicare, and will only target the well-off. But are those claims true? Erica York, senior economist, walks through the details with Jesse. They discuss what the economic impact of this budget would be and what parts stand a chance at actually becoming law.
Vermont lawmakers must weigh the potential benefits of cessation for some smokers against increased smuggling (and related criminal activity), and a loss of tax revenue not commensurate with a decline in smoking.
6 min read
States can better position themselves for success by moving away from economically-damaging taxes like the capital stock tax.
4 min read