A Tax Law for Manufacturers, but a Trade Policy Against Them
While the One Big Beautiful Bill Act tries to buoy manufacturing, President Trump’s tariffs are an anvil dragging the sector down.
All Related Articles
Trump Tariffs Explained: Grocery Prices and Rebate Checks
Trump’s 2025 tariffs will hit nearly three-quarters of US food imports, raising prices on products that are often difficult or impossible to produce domestically. Senator Hawley has proposed a rebate program to return some of the revenue to households—but would it actually help?
Tax-Free Weekends: When Popular Policy Meets Poor Economics
They’re popular, highly visible, and marketed as tax relief—but research shows sales tax holidays are inefficient, create compliance headaches, and often miss the mark for the taxpayers they’re meant to help.
Reviewing the International Tax Provisions in the One Big Beautiful Bill Act
The OBBBA moved the US international tax system in the right direction on several fronts. However, some of the changes, while encouraging certain domestic activity and exports, may harm physical activity abroad that supports US competitiveness and domestic activity.
8 min read
How the One Big Beautiful Bill Changes Green Energy Tax Credits
The One Big Beautiful Bill Act (OBBBA) significantly alters the Inflation Reduction Act (IRA) green energy subsidies.
6 min read
Trump Tariffs Will Raise the Cost of Food for Americans
The Trump tariffs will likely raise the cost of food for Americans, particularly for liqueurs and spirits, baked goods, coffee, fish, and beer.
4 min read
The Future of BEAT
Even when international relations are frayed, there is value in finding ways to combat corporate profit shifting while also fostering a healthy commercial atmosphere and positive trade relations.
7 min read
FAQ: The One Big Beautiful Bill, Explained
Our experts explain how this major tax legislation may affect you and how policymakers can better improve the tax code.
24 min read
Sales Tax Holidays by State, 2025
However well-intended they may be, sales tax holidays remain the same as they always have been—ineffective and inefficient.
16 min read
Trump’s Next Task Is Turning ‘Beautiful Bill’ Into Economic Boon
The administration has a strong desire to boost manufacturing investment and there are many provisions in the new tax bill that support this aim. But the administration’s erratic trade policy is driving up the costs of key inputs that manufacturers rely on to build things in the US.
One Big Beautiful Bill Does Better with Permanence, but Is Still Full of Temporary Provisions
Several major new tax breaks are scheduled to expire at the end of 2028, setting the stage for another tax fight to either extend them or allow them to expire.
5 min read
The One Big Beautiful Bill Is Law—Now What?
The One Big Beautiful Bill is now law—but what does it actually do? In this episode, we break down the new tax law’s key provisions, including who benefits, who doesn’t, and what it means for the economy, tax certainty, and the federal deficit.
Patent Box Regimes in Europe, 2025
The aim of patent boxes is generally to encourage and attract local research and development (R&D) and to incentivize businesses to locate IP in the country. However, patent boxes can introduce another level of complexity to a tax system, and some recent research questions whether patent boxes are actually effective in driving innovation.
4 min read
The Good, the Bad, and the Ugly in the One Big Beautiful Bill Act
The One Big Beautiful Bill Act makes many of the individual tax cuts and reforms of the TCJA permanent. It improves upon the TCJA by making expensing for R&D and equipment permanent. However, for the most part, it does not include further structural reforms, and instead introduces many new, narrow tax breaks to the code, adding complexity and raising revenue costs.
7 min read
Alabama’s 2025 Legislative Session Advances Pro-Growth Tax Reforms
Alabama’s 2025 legislative session mostly demonstrates a commitment to pro-growth tax policies that enhance competitiveness and reduce compliance burdens.
4 min read
State Implications of the GILTI to NCTI Conversion
The One Big Beautiful Bill’s changes to the taxation of international income have surprising implications for state codes, yielding tax increases and a revised tax base that, through quirks of state incorporation, bears very little resemblance to the federal base and almost nothing of its purpose.
10 min read
Response to OECD Consultation on BEPS 1.0
The BEPS project’s 15 actions were decisive responses to real problems in cross-border taxation, offering real benefits but also real costs. A decade of implementation experience has revealed a critical side effect: sharply higher compliance costs for both tax administrations and the business community.
One Big Beautiful Bill Act Tax Policies: Details and Analysis
We estimate the One Big Beautiful Bill Act would increase long-run GDP by 1.2 percent and reduce federal tax revenue by $5 trillion over the next decade on a conventional basis.
11 min read
Budget Reconciliation: Tracking the 2025 Trump Tax Cuts
President Trump signed the One Big Beautiful Bill Act into law on July 4, 2025.
18 min read
The One Big Beautiful Tax Bill: What’s In It, What’s Out
Congress is racing to pass the One Big Beautiful Tax Bill before the July 4 deadline. In this episode, Kyle Hulehan and Erica York break down what just happened over the weekend, what’s actually in the bill, and what comes next as the House and Senate try to reconcile their differences.