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It Would Be a Mistake to Resurrect Corporate Alternative Minimum Tax

The Inflation Reduction Act may be smaller than the proposed Build Back Better legislation from 2021, but both sets of legislation propose a reintroduced corporate alternative minimum tax (AMT). The 30-year experience with a corporate AMT shows it is not a good solution.

4 min read
Inflation Reduction Act minimum tax or Inflation Reduction Act corporate minimum tax Biden OECD tax proposals hurt FDI Ways and Means proposal profit shifting, federal corporate income tax liabilities under Ways and Means profit shifting proposal

How Does the Inflation Reduction Act Minimum Tax Compare to Global Minimum Tax?

Over the course of the last year, it has become clear that Democratic lawmakers want to change U.S. tax rules for large companies. However, as proposals have been debated in recent months, there are have been clear divides between U.S. proposals and the global minimum tax rules.

6 min read
Federal cigarette tax harm reduction efforts, federal cigarette tax proposal House Democrats tobacco tax New Year's Resolutions for tax policymakers. New Year's Resolutions for tax policy

The Inflation Reduction Act, What to Know

The Inflation Reduction Act would raise taxes on corporations and top earners with the goal of funding a number of programs to reduce carbon emissions, address prescription drug costs, and spur the economy. Garrett Watson joins Jesse Solis to talk through what these tax changes would mean for the economy: Will they reduce inflation, and do they break the President’s pledge not to raise taxes on those earning less than $400,000?

Real bracket creep and TCJA expirations won't keep pace with federal spending CBO long-term budget outlook federal deficit

3 Observations on the CBO Long-Term Budget Outlook

The latest CBO long-term budget outlook paints a troubling picture of fiscal irresponsibility. Rather than halt this rampant spending, Congress is actively adding programs that will exacerbate these long-term trends.

7 min read
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Chips Are Down in Semiconductor Tax World

The Senate has begun debate on the so-called Chips bill, which would provide $52 billion in grants and $24 billion in tax credits to supposedly strengthen the production of semiconductors in the U.S.

3 min read
Inflation Reduction Act minimum tax or Inflation Reduction Act corporate minimum tax Biden OECD tax proposals hurt FDI Ways and Means proposal profit shifting, federal corporate income tax liabilities under Ways and Means profit shifting proposal

Biden and OECD Tax Proposals Would Hurt FDI

Academic research indicates foreign direct investment (FDI) is highly responsive to the corporate effective tax rate (ETRs); that is, the tax rate after accounting for all deduction and credits available to corporations.

3 min read
Both inbound and outbound foreign direct investment (FDI) are critical to sustaining supply chain resiliency and reducing economic risks

How FDI Adds Value to Supply Chains

Although the dispersion of our supply chains throughout the world has been scrutinized in recent years, both inbound and outbound foreign direct investment are critical to sustaining supply chain resiliency and reducing economic risks for both firms and investors.

5 min read
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4 Things to Know About the Global Tax Debate

The Biden administration has been supportive of the negotiations, but the changes should be reviewed in the context of recent policy changes in the U.S. and elsewhere, the general landscape of business taxation in the U.S., and potential challenges and risks arising from the global tax deal.

3 min read
US multinationals are large employers and investors in the US See FDI us employment impact

Why FDI Matters for U.S. Employment, Wages, and Productivity

Contrary to the Biden administration’s claims, raising taxes on cross-border investment would hurt U.S. economic growth and jobs. Research shows that FDI creates jobs in the U.S. and raises workers’ wages and productivity.

5 min read
US China tariffs and effect of US china trade war policies

U.S.-China Trade War Hurt American Industries and Workers

While the U.S. tariffs were intended to protect American industries, they have largely hurt the U.S. economy. Rather than pass on the tariffs to Chinese consumers, analysis shows that most U.S. firms simply bore the costs.

4 min read
Biden estate tax Biden tax wealth tax Biden capital gains tax Biden wealth tax unrealized capital gains at death American Families Plan tax proposals American Family Plan Details and Analysis Biden American Families Plan Senate American Rescue Plan direct payments stimulus checks federal covid relief American Rescue Plan tax american rescue plan stimulus payments Tracking the 2021 Biden Tax Plan

President Biden’s 61 Percent Tax on Wealth

As part of President Biden’s proposed budget for fiscal year 2023, the White House has once again endorsed a major tax increase on accumulated wealth, adding up to a 61 percent tax on wealth of high-earning taxpayers.

4 min read
Biden global minimum tax OECD Pillar Two Blueprint Biden international tax proposal GILTI cross-border investment profit shifting base erosion rules G7 tax and G7 global minimum tax deal. Some questions for global tax reform proposals and negotiations US

Which Global Minimum Tax Will We Get?

Over the course of the last year, it has become clear that Democratic lawmakers want to change U.S. international tax rules. However, as proposals have been debated in recent months, there are clear divides between U.S. proposals and the global minimum tax rules.

5 min read