Carbon Taxes, Trade, and American Competitiveness
A border-adjusted carbon tax that uses some of the revenue for pro-investment tax reform could improve U.S. more competitiveness while also addressing concerns with a carbon tax.
29 min read
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Comparing Europe’s Tax Systems: Corporate Taxes
According to the corporate tax component of the 2022 International Tax Competitiveness Index, Latvia and Estonia have the best corporate tax systems in the OECD.
3 min read
Details and Analysis of Canceling the Scheduled Business Tax Increases in Tax Cuts and Jobs Act
The business tax changes originally introduced in the TCJA are scheduled to increase tax burdens on businesses at a time when economic headwinds and broader uncertainty are higher than they have been in decades.
12 min read
Colombia Is in Urgent Need of Pro-Growth Comprehensive Tax Reform
Colombia should consider shifting its planned tax reforms from harmful corporate and individual taxes to less harmful consumption taxes.
5 min read
A Carbon Tax, Explained
Every policy has trade-offs, but a well-designed carbon tax has the potential to protect the environment without harming consumers, jobs, or businesses.
2023 Tax Brackets
The IRS recently released the new inflation adjusted 2023 tax brackets and rates. Explore updated credits, deductions, and exemptions, including the standard deduction & personal exemption, Alternative Minimum Tax (AMT), Earned Income Tax Credit (EITC), Child Tax Credit (CTC), capital gains brackets, qualified business income deduction (199A), and the annual exclusion for gifts.
4 min read
International Tax Competitiveness Index 2022
While there are many factors that affect a country’s economic performance, taxes play an important role. A well-structured tax code is easy for taxpayers to comply with and can promote economic development while raising sufficient revenue for a government’s priorities.
41 min read
Inflation Is Surging, So Are Federal Tax Collections
Federal tax collections are approaching the highest levels in U.S. history set during World War II and again during the dot-com bubble in 2000. Meanwhile, federal spending in FY 2022 was over 25 percent of GDP—a level only exceeded during the height of the pandemic in 2020 and 2021, and during World War II.
4 min read
Tax Hike Proposals Live on Despite Being Dropped in the Inflation Reduction Act
President Biden proposed a 7-point hike in the corporate tax rate to 28 percent, a new minimum book tax on corporate profits, and higher taxes on international activity. We estimated these proposals would reduce the size of the economy (GDP) by 1.6 percent over the long run and eliminate 542,000 jobs.
6 min read
Doing Tax Policy at the Ballot Is Not for the Faint of Heart
Some tax ballot initiatives will be straightforward, some will be complex, and—let’s be honest—some will be a drafting nightmare.
5 min read
The Sticks: Inflation Reduction Act’s Energy-Related Tax Increases
The Inflation Reduction Act primarily uses carrots, not sticks, to incentivize reductions in carbon emissions. It creates or expands tax credits for various low- or no-emission technologies, rather than imposing a generalized penalty for emissions, such as a carbon tax.
5 min read
Net Operating Loss Carryforward and Carryback Provisions in Europe, 2022
Carryover tax provisions help businesses “smooth” their risk and income, making the tax code more neutral across investments and over time.
4 min read
Breaking Down the Inflation Reduction Act’s Green Energy Tax Credits
The Inflation Reduction Act created numerous tax subsidy programs intended to accelerate the transition to a greener economy.
8 min read
Taxes and the UK’s new Prime Minister
In an already-challenging economic environment, new UK Prime Minister Liz Truss must get tax rates correct to avoid over-burdening a population and business sector facing immense uncertainty. Focusing only on rates while ignoring the base misses an opportunity for real, pro-growth reform.
4 min read
IRS Is Raising More with Less, But New Funding Misses the Mark
The Inflation Reduction Act focused more on enforcement and hiring more auditors rather than programs that make it easier for taxpayers to comply with the code and the IRS to administer it.
6 min read
The Tax Compliance Costs of IRS Regulations
In a pattern that has become all too common in recent decades, the newly enacted Inflation Reduction Act (IRA) added yet another layer of complexity to an already complex and burdensome federal tax code.
9 min read
Patent Box Regimes in Europe, 2022
Patent box regimes (also referred to as intellectual property, or IP, regimes) provide lower effective tax rates on income derived from IP. Most commonly, eligible types of IP are patents and software copyrights. Currently, 13 of the 27 EU member states have a patent box regime.
4 min read