Tax Cuts and Jobs Act (TCJA)

In Defense of the “Church Parking Tax”

Comments on Congressional Research Service’s Preliminary Analysis of the TCJA

Measuring Opportunity Zone Success

Business in America

Who are the workers, consumers, and shareholders who interact with businesses in the U.S.? What forms do these businesses take? How do business taxes impact people’s lives? It is essential we answer these questions in order to design a business tax system that is simple, efficient, and enables economic progress.

Not All Tax Expenditures Are Equal

The debate in Washington, D.C. often centers around tax expenditures, so-called corporate loopholes, in the tax code. But not all tax expenditures are created equal. Some represent neutral tax treatment and should be left alone, while others are distortionary and should be repealed. Understanding what a tax expenditure represents is essential for understanding how our tax code works for both businesses and individuals.

What’s Going on With the Kiddie Tax?

Depreciation Requires Businesses to Pay Tax on Income That Doesn’t Exist

While tax rates matter to businesses, so too does the measure of income to which those tax rates apply. The corporate income tax is a tax on profits, normally defined as revenue minus costs. However, under the current tax code, businesses are unable to deduct the full cost of certain expenses—their capital investments—meaning the tax code is not neutral and actually increases the cost of investment.

Fixing the TCJA’s Net Operating Losses Provision

Anti-Base Erosion Provisions and Territorial Tax Systems in OECD Countries

The U.S. decision to adopt a territorial tax system is certainly an improvement over having a worldwide system. However, in moving to a territorial system some of the new features created with the TCJA increased the complexity of the system.

New OECD Data Reveals Decline in U.S. Tax Wedge Is an Outcome of Tax Reform

The First Filing Season under the TCJA

Senators Introduce Legislation to Fix the Retail Glitch

What’s up with Being GILTI?

The Tax Cuts and Jobs Act made significant changes to the way U.S. multinationals’ foreign profits are taxed. GILTI, or “Global Intangible Low Tax Income,” was introduced as an outbound anti-base erosion provision.

Testimony: Temporary Policy in the Federal Tax Code

Tax policy can increase the size of the economy by having a positive impact on the incentives to work and invest. However, when tax policy is temporary or retroactive, these positive effects are muted, and policies do not effectively incentivize the intended activity.

Lawmakers Introduce Another Tax Extenders Bill

Evaluating Education Tax Provisions

Research shows that the current menu of education-related tax benefits is not effectively promoting affordability or the decision to attend college. Lawmakers wishing to provide education assistance should reconsider whether the tax code is the best tool to achieve that goal.

Opportunity Zone Rules Hike Concerns Over Tax Breaks for NFL Stadiums

Don’t Judge Your Taxes by Your Refund

Lawmakers Start the New Year with a Long Tax Policy To-Do List

Opportunity Zones: What We Know and What We Don’t

Research suggests place-based incentive programs redistribute rather than generate new economic activity, subsidize investments that would have occurred anyway, and displace low-income residents.