Retail Delivery Fees Are Not the Panacea for States’ Transport Budget Woes
Retail delivery fees are an inefficient and ineffective way to close budget gaps, and lawmakers should consider other, more sound, policy options.
5 min read
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California Explores New Ways to Tax the Internet
The data extraction mitigation fee is modeled after Maryland’s digital advertising tax, which has been mired in litigation since its inception and is very likely unconstitutional and in conflict with federal law.
6 min read
Tax Subsidies for R&D Expenditures in Europe, 2024
Many countries incentivize business investment in research and development (R&D), intending to foster innovation. A common approach is to provide direct government funding for R&D activity. However, a significant number of jurisdictions also offer R&D tax incentives.
3 min read
Tax Files under New Council of EU Presidency: Hungary
As Hungary takes over the six-month rotating presidency of the Council of the European Union in the aftermath of the European elections, the relationship between tax policy and Europe’s competitiveness will be closely linked.
6 min read
Latest CBO Projections Highlight Fiscal Challenge of Full TCJA Extension
While neither full expiration nor a deficit-financed full extension of the TCJA would be appropriate, lawmakers should consider the incentive effects of whichever tax reform they pursue. Because taxes affect the economy, they also affect the sustainability of debt reduction.
3 min read
Arkansas Enacts Fourth Tax Cut in Less than Two Years
Governor Sarah Huckabee Sanders (R) recently called a brief special legislative session to enact the fourth round of reductions to the Natural State’s individual and corporate income taxes. Legislators also passed a modest property tax reform proposal.
4 min read
The Impact of High Inflation on Tax Revenues across Europe
The European Union’s experience with high inflation highlights the critical need for adaptive fiscal policies. Best practices drawn from the academic literature recommend implementing automatic adjustment mechanisms with a certain periodicity and based on price increases.
31 min read
Sources of Personal Income, Tax Year 2021
Reviewing reported income helps to understand the composition of the federal government’s revenue base and how Americans earn their taxable income. The individual income tax, the federal government’s largest source of revenue, is largely a tax on labor.
9 min read
A Big-Picture Look at Taxing the Wealthy
Taxing wealth has become a hot-button issue in today’s political discourse, promising to reshape economic equality. But what are the real-world implications of such policies?
The High Cost of Wealth Taxes
Many developed countries have repealed their wealth taxes in recent years for a variety of reasons. They raise little revenue, create high administrative costs, and induce an outflow of wealthy individuals and their money. Many policymakers have also recognized that high taxes on capital and wealth damage economic growth.
30 min read
State Tax Changes Taking Effect July 1, 2024
Summer has arrived and states are beginning to implement policy changes that were enacted during the legislative session (or are being phased in over time).
13 min read
Tax Policy Questions 2024 Presidential Candidates Should Address
Both candidates should provide clear and honest answers about their plans (or lack thereof) to address the nation’s urgent tax policy issues.
8 min read
Understanding Full Expensing in the United Kingdom
Given the positive contribution of full expensing to economic growth and that the UK already incurred the peak-year costs due to the existing policy, it is imperative to maintain it permanently.
5 min read
Portland’s Weirdly High Taxes
Portland residents face some of the country’s highest taxes on just about every class of income. In an era of dramatically increased mobility for individuals and businesses alike, that’s not a recipe for success.
11 min read
Enhancing the US Tax Treaty Network: Prioritizing Brazil and Singapore
The National Foreign Trade Council’s survey shows that the private sector recognizes the economic value of treaties as an instrument to increase tax certainty and decrease distortions.
3 min read
Details and Analysis of President Biden’s Fiscal Year 2025 Budget Proposal
President Biden is proposing extraordinarily large tax hikes on businesses and the top 1 percent of earners that would put the US in a distinctly uncompetitive international position and threaten the health of the US economy.
19 min read
Supreme Court Rules against Moores 7-2, Leaves Most Questions Undecided
The government won in Moore. However, given the narrow opinion of the court and the reasoning in the Barrett concurrence and the Thomas dissent, it seems likely that future rulings under other facts and circumstances could favor taxpayers instead.
7 min read
The European Union’s ViDA Proposal: Ignoring Principles Does Not Make Tax Policy Fairer
Adopting tax policy based on sound principles like neutrality rather than political expediency is essential for the European Union’s fiscal future.
5 min read
How the TCJA Affected Legal Business Forms
The Tax Cuts and Jobs Act (TCJA) significantly lowered the effective tax rates on business income, but the impact was not the same for C corporations and pass-through businesses.
6 min read
Tax Neutrality: Balancing Priorities
Neutral tax codes don’t play favorites or try to influence personal or business decisions but stick to what they’re best at – raising sufficient revenue through low rates and a broad base.