The United States needs to grow its way out of inflation and set the economy up for continued growth—the tax code provides tools for policymakers to do just that.
3 min read
Amidst soaring inflation, policymakers across the political spectrum proposed many ideas to soften the blow of higher prices–especially for low-income workers and families. One idea that caught on quickly: sales tax relief on groceries. The idea had its merits, but Tax Foundation research shows that it may have missed the mark.
President Biden’s budget proposes several new tax increases on high-income individuals and businesses, which combined with the Build Back Better plan would give the U.S. the highest top tax rates on individual and corporate income in the developed world.
5 min read
Eliminating state gross receipts taxes would be a pro-growth change to make the tax code better for businesses and consumers. How does your state compare?
4 min read
The CBO projections show policymakers’ top priority over the next five years will need to be cleaning up our country’s fiscal situation while maintaining a pro-growth and competitive tax code.
5 min read
While Wisconsin has long been one of the highest-tax states in the nation, that distinction is increasingly detrimental as businesses and individuals enjoy increased economic and geographic mobility.
6 min read
Ireland and France levy the highest excise duties on cigarettes in the EU, at €8.85 ($10.47) and €6.88 ($8.13) per 20-cigarette pack, respectively.
3 min read
Property taxes are highly unpopular and can get extremely confusing. But when done right, they can be quite good. We talk through what a well structured property tax should look like, which states have good property tax structures in place and which ones don’t, and how these taxes impact a state’s competitiveness in an increasingly mobile economy.
The Kansas experience is so infamous that “what about Kansas?” is almost guaranteed to be a question—sometimes as a retort, but often a genuine expression of concern—any time any state explores tax relief. But what about the other two dozen states that have cut their income taxes since then?
6 min read