Net Operating Loss Carryforward and Carryback Provisions in Europe, 2026
Carryover provisions help businesses “smooth” their risk and income, making the tax code more neutral across investments and over time.
5 min read
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How Well Do Carbon Taxes Match Their Promise? Evidence from 2023
The carbon tax is often considered the ideal climate policy. However, existing carbon taxes do not match the ideal theoretical policy. More than two dozen carbon taxes exist in the world today, and they vary widely in terms of design.
61 min read
Is America Financially Illiterate? The Numbers Are Alarming
Most Americans don’t understand how the tax code works, and it’s costing them.
California’s Mandatory Worldwide Combined Reporting Proposal Is a Mistake
California lawmakers are considering mandating worldwide combined reporting, bringing back a policy the state abandoned in the 1980s due to strong pushback from international trading partners and the federal government. The policy failed to work as intended then and doesn’t make any better sense now.
8 min read
Testimony: The Impact of the 2025 Reconciliation Law’s Tax Changes on Small Businesses and Lessons for Future Tax Reform
Policymakers should broaden and make permanent full expensing for additional asset classes and pursue structural reforms that reduce distortions in how businesses are taxed. A more consistent and predictable policy environment, paired with targeted improvements to loss treatment, R&D incentives, and compliance burdens, would give small business owners greater confidence to invest, hire, and grow.
Tariffs by Another Name: How Discriminatory Taxes on Cross-Border Services Threaten America’s Export Edge
The US, as the world’s largest services exporter, has a stronger interest in combating discriminatory services taxation than in pursuing tariffs.
44 min read
American Compass’s “Tariff Tally” Doesn’t Add Up
The evidence overall paints a far different picture than American Compass presents, and a consistent theoretical framework undercuts its assertions of how tariffs should be expected to impact the economy moving forward.
25 min read
The OBBBA Improved the Treatment of Investment—but There’s Still Work to Do
The OBBBA significantly boosted economic prospects by improving the treatment of investment. By making key expensing provisions permanent, the OBBBA created better conditions for long-term growth. However, there’s still work to be done, and the OBBBA provided a blueprint for policymakers to follow.
4 min read
How Smart Policy Can Unlock VAT’s Revenue Potential
Closing the EU’s value-added tax (VAT) actionable policy gap could yield €773 billion in government revenue—four times the EU’s 2026 budget.
8 min read
We Tracked Every Trump Tariff Change for a Year. Here’s What We Found.
One year later, the evidence shows the tariffs were not reciprocal, did not generate the promised investment boom, raised less revenue than projected, and contributed to higher prices.
Facts & Figures 2026: How Does Your State Compare?
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min read
In 2026, Both Parties Are Dodging the Truth on Taxes
As the policy debate for the next presidential election begins to take shape, both sides need to be honest about their plans for addressing the actual challenges our country faces.
Should We Tax Artificial Intelligence?
AI is everywhere, and now it’s in the tax policy debate.
Tariffs Increased Retail Prices of Imports by 7 Percentage Points Prior to Supreme Court Ruling
President Trump and those in his administration have insisted that consumers are not bearing any of the tariffs. But the latest data show exactly the opposite.
5 min read
Trump Tariffs Blocked by the Supreme Court (What’s Next?)
Last Friday, the Supreme Court struck down President Trump’s IEEPA tariffs in a landmark 6-3 decision.
Tax Treatment of the Pass-Through Business Sector: A Primer
The pass-through business sector—including partnerships, S corporations, and sole proprietorships—employs most of the private-sector workforce in the US and accounts for about half of US business income.
34 min read
2026 State of the Union: Five Things to Know
President Trump is scheduled to deliver the annual State of the Union address to Congress. The speech is bound to address a multitude of topics, but taxes and (especially) tariffs will certainly feature prominently.
6 min read
Simplicity Is Still Missing from Michigan’s Tax Debate
Michigan’s tax code remains too complex, and taxpayers should be asking for a system that bends toward simplicity, not the other way around.
Here’s Why Corporate Taxes May Appear Lower After the OBBBA
Near-term corporate tax payments may fall, and financial statement data may appear unusual, but over time, revenues will stabilize, book-tax gaps will fade, and the US tax code will incentivize domestic investment.
8 min read
One Big Beautiful Bill Act Tax Policies: Details and Analysis
Our analysis of the major tax provisions included in the OBBBA finds it will increase long-run GDP by 0.7 percent. The major tax provisions will reduce federal tax revenue by nearly $5.2 trillion between 2025 and 2034, on a conventional basis.
12 min read