“Monetizing” Clean Energy Tax Credits Creates a Sham Market for Bad Policy
Explore IRS clean energy tax credits, including Direct Pay, the IRA and CHIPS Act tax provisions, and Section 1603 grant program. See more.
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A Mis-STEP for the European Union: The New Subsidy Race to the Bottom
Enhancing the European Union’s competitiveness is necessary, but the European Commission’s latest attempt is the wrong approach.
The U.S. Tax Code Is Too Complex for Direct eFile to Work
It is hard to imagine the IRS Direct e-File Program operating seamlessly with the complexity of the current U.S. tax system. Instead, lawmakers should first address the more fundamental problem that causes taxpayer frustration: our highly complicated tax code.
Testimony: Reviewing Recent Federal Tax Policies and Considering Pro-Growth Reforms
Lawmakers should focus on simplifying the federal tax code, creating stability, and broadly improving economic incentives. There are incremental steps that can be made on the path to fundamental tax reform.
Republican Study Committee’s Tax Plan Simplifies the Tax Code and Offers Pro-Growth Ideas
By extending bonus depreciation and introducing neutral cost recovery, the RSC budget would significantly improve the treatment of investment leading to increased growth, expanded employment, and higher wages.
Repealing Inflation Reduction Act’s Energy Credits Would Raise $663 Billion, JCT Projects
The price tag of the Inflation Reduction Act’s green energy tax credits is much higher than originally thought. Among other things, the updated analysis indicates the Inflation Reduction Act does not reduce deficits after all.
Debt Ceiling Deal Reduces Deficits in the Short Term but Delays a More Comprehensive Budget Reckoning
To address the more challenging parts of the budget, especially the unsustainable growth in mandatory spending, lawmakers should follow up on this debt ceiling agreement with a focus on long-term fiscal sustainability.
Testimony: Taxes, Spending, and Addressing the U.S. Debt Crisis
A better-designed tax system should be a goal of any fiscal consolidation package. That said, our simulations suggest that even substantially higher tax increases are insufficient to curtail long-run debt-to-GDP growth.
How America’s Debt Problem Compares to Other Countries—and Why It Matters
According to the International Monetary Fund (IMF), the U.S. federal government is among the most indebted governments in the world.
Inflation Reduction Act’s Price Controls Are Deterring New Drug Development
As predicted, the Inflation Reduction Act’s misguided price-setting policy is already discouraging drug development. Rather than double down on it, as President Biden proposes doing in his budget, lawmakers ought to restore incentives to invest in the United States.