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Joint Committee on Taxation (JCT)

Return to R&D Expensing Crucial for Manufacturing and Technology Investment

The tax treatment of research and development (R&D) expenses is one of the biggest issues facing Congress as the year winds down.

Tariffs Are Taxes Too

Even though tariffs are invisible, their effects clearly are not. They might be sold as a tool to strengthen the economy, but tariffs are just taxes that make everyone worse off.

Cigarette Taxes and Cigarette Smuggling by State, 2020

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.

The Future of Tobacco Taxation in Europe

Later this week, the European Union is expected to release a new Tobacco Tax Directive, the first update in more than a decade. Early reports indicate that the EU will propose a significant increase to the existing minimum cigarette tax rates levied across the Union and expand the product categories that are taxed, including a block-wide vaping tax.

Tighter Limits on U.S. Interest Deductibility Make U.S. an Outlier and Increase Pain of Rising Interest Rates

While there is disagreement about the amount of interest that should be deductible, it’s clear that the limit based on EBIT makes the U.S. an outlier compared to other countries across the OECD while raising the cost of new investment.

A Tale of Two Tax Plans in the United Kingdom

History is clear. Lowering budget deficits via spending restraint frees resources for additional private output and jobs. Lowering them by raising taxes on business investment and labor services makes it harder to dis-inflate without a recession.

Meet Daniel Bunn (again), Tax Foundation’s New President & CEO

Tax Foundation recently announced that Daniel Bunn is our new president and CEO. In this special episode of The Deduction, Daniel chats with Jesse about how he got into tax policy. They discuss his time in the Senate, his plans for Tax Foundation’s future, and even his obsession with smoking meats.

How the Inflation Reduction Act and Pillar Two Could Shape the Future of EU Competitiveness

French President Macron is coming to Washington, D.C., this week to ask President Biden the question on the minds of European leaders: “Why did you do this to us?”

States Should Make Full Expensing Permanent to Help Curb Inflation

In times of high inflation, states should consider adopting permanent full expensing because it boosts long-run productivity, economic output, and wages.