Catastrophic rhetoric about US manufacturing is not justified. The tariffs are extremely counterproductive. Still, all is not well in the US manufacturing sector. What should we do?
7 min read
The tariff policies already in effect threaten to offset the benefits of the promised tax cuts.
2 min read
The tariffs amount to an average tax increase of nearly $1,300 per US household in 2025.
32 min read
President Trump has repeatedly floated the idea of entirely replacing the federal income tax with new tariffs. Recently, he has said that when tariff revenues come in, he will use them to replace or substantially cut income taxes for people making under $200,000.
8 min read
On April 10, the House adopted the Senate’s amended version of the budget resolution, which allows $5.3 trillion in deficit-financed tax cuts.
8 min read
The trend of tax exemptions on tips, overtime, and bonuses may sound like a win for workers, but it is a shortsighted fix with long-term drawbacks.
11 min read
Could tariffs, a form of government finance heavily relied upon in the 18th and 19th centuries, function as a major source of revenue for a modern, developed economy in the 21st century?
16 min read
Despite characterizing the tariffs as “reciprocal,” the White House didn’t actually measure tariffs, currency manipulation, or trade barrier policies employed by other countries. Instead, it drew its estimates from something else entirely: bilateral trade deficits in goods.
7 min read
President Trump has announced that new tariffs will go into effect on April 2, following several weeks of threats. These new tariffs are likely to be broader in scope than the limited ones implemented thus far. So who is likely to pay for them?
7 min read
Policymakers should aim for neutral tax policies that support stable revenues like VATs and avoid inviting trade conflicts with discriminatory and economically harmful policies like DSTs.
6 min read
Contrary to the president’s promises, the tariffs will cause short-term pain and long-term pain, no matter the ways people and businesses change their behavior.
5 min read
As we learned in the first trade war, retaliation will exact harm on US exporters by lowering their export sales—and the US-imposed tariffs will directly harm exporters too. US-imposed tariffs can burden exporters by increasing input costs, which acts like a tax on exports.
4 min read
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
The agreement represents a major change for tax competition, and many countries will be rethinking their tax policies for multinationals. If there is no agreement on changes to Pillar Two or digital services taxes, retaliatory American tariffs could be on the horizon.
8 min read
Rather than hurting foreign exporters, the economic evidence shows American firms and consumers were hardest hit by tariffs imposed during President Trump’s first-term.
5 min read
The Trump administration appears to be moving in a “reciprocal” policy direction despite the significant negative economic consequences for American consumers of across-the-board tariffs on goods coming into the US. However, the EU’s VAT system should not be used as a justification for retaliatory tariffs.
6 min read
Are tariffs making everything more expensive? With Trump’s new tariff plans hitting $1.1 trillion in imports—far more than his first term—prices could rise for businesses and consumers alike.
What will the future of tax policy look like? In this episode, we dive into the critical challenges and opportunities looming on the horizon, especially with major tax cuts set to expire, which could increase taxes for 62 percent of filers.
This week, the incoming Trump administration issued a day-one executive order on the global minimum tax agreement known as Pillar Two, which seeks to ensure multinational corporations pay at least 15 percent in income tax.
6 min read
Given the poor state of the budget process and worsening debt trajectory, lawmakers should move boldly and quickly to address the issue, including via a fiscal commission process. Issues to consider should include reforms to both spending and taxes.
42 min read