Section 179 Expensing: Good First Step?
The Small Business Jobs Act would improve the tax treatment of investment but the proposal stops short of full expensing, leaving room for improvement.
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Net Operating Loss Carryforward and Carryback Provisions in Europe
Carryover tax provisions help businesses “smooth” their risk and income, making the tax code more neutral across investments and over time.
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The Big Business of Tax-Free College Sports
Moving from one athletic conference to another can mean millions in additional revenue sharing from lucrative broadcasting contracts and other revenue streams, all tax-free.
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Inflation Reduction Act One Year After Enactment
Congress should reconsider key elements of the IRA, including the book minimum tax and the green energy credits, with an eye towards simplification and fiscal responsibility.
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Short FormIn Her Tax Era—The Tax Impact of Taylor Swift’s Eras Tour
Taylor Swift’s Eras Tour highlights that taxes impact everyone, artists and fans alike.
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Montana Enacts Strong Reforms—Now, It’s Time for Sound Property Tax Relief
Montana Policymakers should pursue principled property tax reform that benefits all property owners without creating market distortions or unfairly shifting the tax burden.
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Germany’s Tax Proposals: Enhancing Loss Treatment but Dropping the Super-Deduction
For policymakers in Germany, corporate taxation stands out as a promising area for reform. See Germany tax reform and Germany tax proposals.
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Details and Analysis of the American Families and Jobs Act
Details and analysis of the latest House GOP tax plan, the American Families and Jobs Act. Learn more about the House Republican tax plan.
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“Monetizing” Clean Energy Tax Credits Creates a Sham Market for Bad Policy
Explore IRS clean energy tax credits, including Direct Pay, the IRA and CHIPS Act tax provisions, and Section 1603 grant program. See more.
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A Mis-STEP for the European Union: The New Subsidy Race to the Bottom
Enhancing the European Union’s competitiveness is necessary, but the European Commission’s latest attempt is the wrong approach.
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Details and Analysis of a Tax Reform Plan for Growth and Opportunity
The federal tax code remains a major source of frustration and controversy for Americans, and a hindrance to economic growth and opportunity. Other countries, such as Estonia, have proven that sufficient tax revenue can be collected in a less frustrating and more efficient way.
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State Tax Changes Taking Effect July 1, 2023
At least 32 notable tax policy changes recently took effect across 18 states, including alterations to income taxes, payroll taxes, sales and use taxes, property taxes, and excise taxes. See if your state tax code changed.
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Blog
Short FormUnderstanding the House GOP Tax Plan
What does the tax reform package do well? What does it do poorly? How would it affect me?
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Testimony: Reviewing Recent Federal Tax Policies and Considering Pro-Growth Reforms
Lawmakers should focus on simplifying the federal tax code, creating stability, and broadly improving economic incentives. There are incremental steps that can be made on the path to fundamental tax reform.
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North Carolina’s Budget Should Prioritize Pro-Growth Structural Reforms
As fiscal year 2023 draws to a close, North Carolina’s House and Senate have each passed their own versions of the biennial budget for fiscal years 2024-25. While legislative leaders have generally agreed to overall spending levels, negotiations remain ongoing to resolve different approaches to tax policy.
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Texas Lawmakers Should Deliver Principled Property Tax Relief
Texas’s robust surpluses create an opportunity to use state funds to lower local property taxes. However, it remains important for legislators to pursue a principled approach to rate compression, rather than enacting a plan that will simply shift the tax burden in nonneutral ways.
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Republican Study Committee’s Tax Plan Simplifies the Tax Code and Offers Pro-Growth Ideas
By extending bonus depreciation and introducing neutral cost recovery, the RSC budget would significantly improve the treatment of investment leading to increased growth, expanded employment, and higher wages.
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Repealing Inflation Reduction Act’s Energy Credits Would Raise $663 Billion, JCT Projects
The price tag of the Inflation Reduction Act’s green energy tax credits is much higher than originally thought. Among other things, the updated analysis indicates the Inflation Reduction Act does not reduce deficits after all.
6 min read
Why Congress Is More to Blame than IRS for $26 Billion in Refundable Tax Credit Overpayments
Lawmakers should avoid delivering social and economic benefits through the tax code whenever possible and work to simplify or repeal the tax expenditures already in the tax code.
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R&D Amortization Hurts Economic Growth, Growth Industries, and Small Businesses
The current tax treatment of R&D expenses is irrational, complicated, and counterproductive. Fortunately, fixing this problem is a bipartisan issue.
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