Former President Trump has proposed a number of tax proposals, including imposing a universal baseline tariff on all U.S. imports, imposing a 60 percent tariff on all U.S. imports from China, making the individual and estate tax cuts of the 2017 Tax Cuts and Jobs Act (TCJA) permanent, maintaining the 21 percent corporate income tax rate, and making all tip income tax-exempt. From analyzing the economic impact of US tariffs and retaliatory actions to the upcoming TCJA expirations, Tax Foundation experts continue to serve as trusted thought leaders, providing research, modeling, analysis, and commentary on how the Trump tax proposals would impact U.S. competitiveness, economic growth, government revenue, and everyday taxpayers. The posts below include our research and analysis on a variety of Trump tax proposals. You can also explore our economic modeling via Options for Reforming America’s Tax Code and our 10 Tax Reforms for Growth and Opportunity. See the latest proposals from 2024 presidential candidates, including Vice President Harris, with our 2024 tax tracker
We estimate Trump’s proposed tariffs and partial retaliation from all trading partners would together offset more than two-thirds of the long-run economic benefit of his proposed tax cuts.
12 min read
Using tariff policy to reallocate investment and jobs is a costly mistake—that’s a history lesson we should not forget.
6 min read
Exempting overtime would unnecessarily complicate the tax code, increase compliance and administrative costs, and reduce neutrality by favoring certain work arrangements over others.
5 min read
“No tax on tips” might be a catchy idea on the campaign trail. But it could create plenty of headaches, from figuring out tips on previously untipped services to an unexpectedly large loss of federal revenue.
6 min read
Tax policy has become a significant focus of the U.S. 2024 presidential election. Our new interactive tool helps keep track of the tax policies proposed by presidential candidates during their campaigns.
Former President Trump floated the possibility of entirely replacing the federal income tax with new tariffs. He also raised other ideas like eliminating taxes on tipped income and lowering the corporate tax rate by one percentage point.
8 min read
If reelected, President Trump would drastically escalate the trade war he started during his first term. But what often goes unnoticed is President Biden’s role in continuing Trump’s first trade war. In fact, more tax revenue from the trade war tariffs has been collected under Biden than under Trump.
5 min read
The Trump administration imposed nearly $80 billion worth of new taxes on Americans by levying tariffs on thousands of products in 2018 and 2019, amounting to one of the largest tax increases in decades. The Biden administration has kept most of the Trump administration tariffs in place
19 min read
Unless Congress acts, Americans are in for a tax hike in 2026.
3 min read
Trump’s tariff hikes would rank as the the largest tax increase outside of wartime since 1940. Meanwhile, Harris’s tax plan would rank as the 6th largest tax increase outside of wartime since 1940.
5 min read
Trump’s proposal would bring the US more in line with most other developed economies, which tax only those who live and work within their borders.
4 min read
We estimate Trump’s proposed tariffs and partial retaliation from all trading partners would together offset more than two-thirds of the long-run economic benefit of his proposed tax cuts.
12 min read
Restoring expensing for R&D, machinery, and equipment; extending better cost recovery to structures investment; and avoiding raising the corporate tax rate would create a stronger, pro-investment policy environment for the US economy.
44 min read
Using tariff policy to reallocate investment and jobs is a costly mistake—that’s a history lesson we should not forget.
6 min read
Estimating the economic effects of different types of taxes informs policymakers about the trade-offs of raising revenue in a given way.
5 min read
Social Security is by far the largest federal government spending program. The latest trustees report shows the program is on a fiscally unsustainable path that will exacerbate the US debt crisis if its imbalances are not addressed in the near term.
33 min read
Short FormSmart tax policy takes into account how policy changes impact real people. Understanding who bears the burden of the corporate tax and the effects of a higher rate are essential to sound policymaking.
4 min read
Exempting overtime would unnecessarily complicate the tax code, increase compliance and administrative costs, and reduce neutrality by favoring certain work arrangements over others.
5 min read
Short FormWorld War II shaped many aspects of the modern world, including the US tax code. But the dramatic changes to our system that military mobilization required didn’t subside when the fighting finished; they’ve persisted to today.
4 min read