State Implications of the One, Big, Beautiful Bill
As the US House hashes out its “One, Big, Beautiful Bill,” statehouse lawmakers are watching closely, given the impact of both its tax and spending provisions on state budgets.
12 min read
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We break down the House GOP’s One, Big, Beautiful Bill—a sweeping tax package designed to extend key parts of the 2017 Tax Cuts and Jobs Act before they expire in 2026.
Testimony: The Inflation Reduction Act’s Green Energy Tax Credits
William McBride discussed how and why the budgetary cost of the IRA’s tax credits has grown, described who benefits from the tax credits, and recommended ways to reform the credits amid budget reconciliation.
Net Operating Loss Carryforward and Carryback Provisions in Europe, 2025
Carryover provisions help businesses “smooth” their risk and income, making the tax code more neutral across investments and over time.
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Three Corporate Tax Hikes That Would Undermine TCJA’s Improvements to Competitiveness
As lawmakers consider options for budgetary offsets, they should prioritize competitiveness and economic growth, as a heavier corporate tax burden will undermine the core purpose and achievement of the TCJA.
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A Stable Tax Code Would Ease an Uncertain Economy
Lawmakers have a prime opportunity to achieve a more stable economy through the debate about the tax code that is now ramping up.
House “One Big Beautiful Bill” Riddled with Temporary Tax Policy
As lawmakers continue to debate the “One Big Beautiful Bill,” they should abandon temporary and complex policy in favor of simplicity and stability.
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Though Tax Hikes Will Be Avoided, the House Bill Misses the Bigger Picture
The tax bill prioritizes politics over economic growth, writes Daniel Bunn.
House GOP’s Approach to the IRA Clean Energy Tax Credits: Five Things to Know
Tax simplification has two aspects. The first is a code without a mess of targeted provisions for various social policy goals. The second is a code with provisions that are simple and easy to comply with. The bill succeeds at the first, but fails at the second.
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Disallowing Business SALT Raises Significant Revenue for Reconciliation but Slows Economic Growth
Pairing permanent TCJA individual tax cuts with new limits on business SALT deductions would shrink the economy, reduce American incomes, and increase the federal budget deficit, undermining the policy goals of TCJA permanence.
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Balls and Strikes on American Manufacturing: What Are the Facts?
Catastrophic rhetoric about US manufacturing is not justified. The tariffs are extremely counterproductive. Still, all is not well in the US manufacturing sector. What should we do?
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Improving Tax Treatment of R&D Would Boost Productivity and Growth
As Congress debates expensing and other policies impacting business investment, lawmakers should consider the importance of business investment in research and development (R&D) as a driver for economic growth. Recent studies suggest that the economic benefits of R&D spending are even greater than previously understood.
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States Lose When Credit Unions Acquire Banks
A tax preference originally designed to level the playing field now has the opposite effect, creating preferences for one class of financial institutions even though the distinctions between credit unions and banks are increasingly blurred.
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Tangible Personal Property De Minimis Exemptions by State, 2025
Does your state have a small business exemption for machinery and equipment?
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Businesses Pay and Remit 87 Percent of All Taxes Collected in Europe
Without businesses as their taxpayers and tax collectors, governments would not have the resources to provide even the most basic services.
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Taxing Powerhouses: The Systematic Role of Businesses in Collecting Government Revenue
On average, businesses in the OECD are liable for collecting, paying, and remitting more than 85 percent of the total tax collection.
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Nonresident Income Tax Filing Laws by State, 2025
One area of the tax code in which extreme complexity and low compliance go hand-in-hand—and where reform is desperately needed—is in states’ nonresident individual income tax filing and withholding laws.
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Taxing Life Insurance
As Congress attempts to prevent the expiration of major Tax Cuts and Jobs Act provisions, it needs to find ways to pay for them. Ideally, it should use the least economically harmful means possible.
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Scrapping these Green Energy Tax Subsidies Could Save the Inflation Reduction Act
Congressional Republicans are looking for ways to pay for extending the tax cuts scheduled to expire at the end of the year. Repealing the green energy tax subsidies expanded or introduced in the Inflation Reduction Act is an appealing option.
The Truth About Tariffs—Fact-Checking Trump’s Trade Claims
Do tariffs really level the playing field, or are they just bad economics? In this emergency episode, we fact-check the Trump administration’s claims that retaliatory tariffs make trade fairer.