Tax Foundation experts regularly testify before the US Congress, in US statehouses, and in government institutions and parliaments throughout Europe.
While tariffs are often presented as tools to enhance US competitiveness, a long history of evidence and recent experience shows they lead to increased costs for consumers and unprotected producers and harmful retaliation, which outweighs the benefits afforded to protected industries.
The stakes for next year’s expiring tax provisions are quite high. If Congress does nothing, then 62 percent of households will see their taxes go up in January of 2026.
It is essential to understand that the taxation of capital gains places a double tax on corporate income.
Texas lawmakers considering ways to reform the state’s tax code should seek to fix the sales tax base and repeal the economically-damaging margins tax.
Oregon’s Legislative Revenue Office anticipates a $40 million revenue loss in fiscal year 2019, for one simple reason: absent legislative action to the contrary, Oregon will adopt the new pass-through deduction, while most other states will not.
Tax reform should aim to get the tax code out of the way of entrepreneurship by making it simpler, less burdensome, and eliminating its anti-growth biases.
The most important thing that Congress and the administration can do to boost economic growth, lift workers’ wages, create jobs, and make the U.S. economy more competitive globally, is reform our business tax system.
Lawmakers interested in removing barriers to entrepreneurship should consider ways to mitigate 3 distortions in the U.S. tax code: the limited deductibility of business net operating losses, the limited deductibility of capital losses, and lengthy depreciation schedules.
