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?
Even if tobacco tax increases generate more revenue in the short run, the shrinking tax base guarantees long-run revenue declines.
7 min read
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.
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
Though high schools will continue to teach the next generation about civics, English, and math, one critical topic remains missing from many classrooms: taxes.
As US businesses and consumers face higher costs of goods due to the Trump tariffs, Senator Hawley (R-MO) has introduced legislation to rebate tariff revenue to provide financial relief. The proposal takes a similar approach to the stimulus checks issued during the COVID-19 pandemic.
4 min read
The One Big Beautiful Bill Act (OBBBA) significantly alters the Inflation Reduction Act (IRA) green energy subsidies.
6 min read
For Congress, work on the One Big Beautiful Bill Act is done. But in state capitols, the work has not yet begun. Many of the tax changes in the federal reconciliation act flow through to state tax codes—automatically in some states, and subject to an update in states’ Internal Revenue Code conformity date in others.
39 min read
Although sometimes overlooked in discussions about corporate taxation, capital allowances play an important role in a country’s corporate tax base and can impact investment decisions—with far-reaching economic consequences.
6 min read
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
Rather than adopt temporary policies that phase out and expire, policymakers should focus their efforts on long-term reforms to support investment.
7 min read
Our experts explain how this major tax legislation may affect you and how policymakers can better improve the tax code.
24 min read
This past spring, DC taxpayers were sidelined when the Washington Commanders announced that city aid would help fund a new stadium on the site of the vacant RFK Stadium. The $4 billion deal will be offset by a staggering $1.15 billion in public revenue.
However states choose to respond to other tax provisions of the One Big Beautiful Bill Act, they should conform to the pro-growth provisions, which represent a marked improvement in the corporate tax code.
12 min read
However well-intended they may be, sales tax holidays remain the same as they always have been—ineffective and inefficient.
16 min read
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.
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
Oklahoma can continue to enhance its competitiveness by pursuing a variety of reforms to the corporate and individual income tax, but it should avoid policies that would negatively impact the economy, like enacting a wholesale elimination of the property tax.
6 min read
The European Commission proposed new budget options for 2028 to 2034. It is worth zooming in on one new proposal for revenues that would support EU-level spending. The “Corporate Resource for Europe,” or CORE, provides a good opportunity to think through how best to raise revenue for the EU budget.
5 min read
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.