For Meaningful Federal Aid to States, Why Not Reimburse Unemployment Compensation Payments?
Improving trust fund solvency and staving off costly business tax increases is a win-win proposition for federal and state governments alike.
4 min read
All Related Articles
States Positioned for a Super Bowl Win with New Taxes on Sports Betting
Although this week’s Super Bowl festivities may be muted, states with legalized sports betting may have something to cheer: a tax revenue bump thanks to the accompanying excise taxes.
3 min read
State Tax Collections Down 4.4 Percent Through September, While Local Tax Collections Rise
Combined state and local tax collections were down only $7.6 billion across the period, representing a total state and local tax revenue decline of 0.7 percent compared to the first nine months of 2019.
6 min read
Taxes and New York’s Fiscal Crisis: Evaluating Revenue Proposals to Close the State’s Budget Gap
Our new study provides a 360-degree assessment of New York’s budget crisis, analyzes proposed revenue options, and offers solutions to raise revenue without driving more taxpayers out of the state or undoing recent positive reforms
106 min read
State Income and Sales Tax Revenues Slide in Second Quarter
Today marked the release of second-quarter GDP data and provides a new glimpse into early changes in state and local revenues and spending. All told, second-quarter state and local tax receipts came in about 3.8 percent lower than they did in the same quarter a year ago. Income and sales taxes fell considerably while property and excise tax collections remained stable.
3 min read
Sources of Personal Income, Tax Year 2017
Reviewing the sources of personal income shows that the personal income tax is largely a tax on labor, primarily because our personal income is mostly derived from labor. However, varied sources of capital income also play a role in American incomes.
9 min read
State Forecasts Indicate $121 Billion 2-Year Tax Revenue Losses Compared to FY 2019
Revised state revenue forecasts show a significant decline in projected revenues for both the recently concluded FY 2020 and current FY 2021, though the picture they paint is considerably less dire than many feared a few months ago.
13 min read
Taxes: The Price We Pay for Government
Have you ever wondered where the money comes from to build roads, maintain a national defense, or pay for programs like Social Security? Taxes.
Can States Close Budget Deficits with Excise Tax Hikes?
We examine whether excise taxes are a solution to budget deficits, and while the short answer to that question is no, there are of course nuances. Excise taxes can play a role in state revenues even as policymakers appreciate that excise taxes are not viable long-term revenue tools for general spending priorities.
21 min read
New OECD Study: Consumption Tax Revenues during Economic Downturns
Compared to other tax revenue sources, consumption tax revenue as a share of GDP tends to be relatively stable over time, even during economic downturns.
2 min read
Sources of Government Revenue in the OECD, 2020
OECD countries have on average become more reliant on consumption taxes and less reliant on individual income taxes. These policy changes matter, considering that consumption-based taxes raise revenue with less economic damage and distortionary effects than taxes on income.
13 min read
Sources of Government Revenue in the OECD, 2019
OECD countries have on average become more reliant on consumption taxes and less reliant on individual income taxes. These policy changes matter, considering that consumption-based taxes raise revenue with less economic damage and distortionary effects than taxes on income.
10 min read
Tax Freedom Day 2018 is April 19th
Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year. In 2018, Tax Freedom Day falls on April 19th, 109 days into the year.
5 min read
Sources of Personal Income, Tax Year 2015
Taxpayers reported $10.4 trillion of total income on their 2015 tax returns. This report breaks down the sources of this income: wages and salaries, business income, investment income, and retirement income.
9 min read