Federal government debt is over $32 trillion, around the size of the nation’s annual economic output (its gross domestic product, or GDP). Debt levels this high mean US borrowing costs are sensitive to interest rate changes that may otherwise seem small.
5 min read
In 2025, the CTP reduced the backlog of premarket tobacco product applications (PMTAs) by about 70 percent. This year, the CTP is already accelerating PMTA reviews further and allowing some leeway for products under review but not yet officially authorized. This is great progress, but much more can be made.
7 min read
Twenty-four out of the 35 European countries covered in this map currently levy estate, inheritance, or gift taxes.
4 min read
The new public country-by-country reporting regimes adopted by the EU and Australia, and changes from the Financial Accounting Standards Board for financial accounts, are meant to promote transparency by multinational enterprises but have ubiquitous structural differences.
10 min read
Poland has one of the most restrictive approaches to the tax treatment of losses in the OECD. Loss carryover provisions allow businesses to deduct their losses in one year against taxable income in another, smoothing their taxable income over time. Their absence or restriction leads to firms with more variable profits and losses over time being taxed at higher rates, penalizing risky investment, such as research and development (R&D), and business expansion.
16 min read
While uncapping the payroll tax and raising individual income tax rates are often the go-to reform options for policymakers, base broadeners like ESI and other fringe benefits are much better alternatives. They can raise significant revenue, while improving the neutrality of the tax code and preventing the need for increases in statutory tax rates.
6 min read
When thinking about taxes, we often consider the tax rate—or what percentage of something is taxed. But there is another factor in considering taxes: the tax base.
The Maryland Tax Court has struck down the state’s digital advertising tax and ordered that refunds be paid to taxpayers for five and a half years’ worth of collections under the unconstitutional tax.
5 min read
In June, the Dominican Republic rushed through a package of tax legislation in seven days. International examples demonstrate that consultation, transparency, and clarity are key factors for successful tax reform.
5 min read
US policymakers have put forward two new tax proposals to address concerns about how artificial intelligence (AI) will impact land, energy, and the workforce.
7 min read
If Canada doesn’t make these provisions permanent, it will drop to 12th place in the capital cost recovery ranking once provisions expire in 2034.
5 min read
Poland taxes its individual business owners through alternative regimes and a series of thresholds, several of them sharp notches that imply significant tax costs for businesses crossing them.
11 min read
Some taxes have more powerful economic effects than others, and that’s a lesson policymakers should absorb as they work to craft a tax code that encourages growth and raises sustainable revenue.
8 min read
The economic damage from a chaotic tariff regime can outweigh the revenue itself, and unlike the tariffs, it cannot be refunded.
4 min read
The OBBBA made substantial improvements to cost recovery, but more opportunities remain for policymakers looking to improve the investment climate in the US.
48 min read
The EU Tax Omnibus proposal would create an EU-wide minimum standard for full expensing, but it confines that standard to qualifying tangible assets used in research and development (R&D) rather than to broader asset classes.
16 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
The Tax Foundation uses and maintains a General Equilibrium Model, known as our Taxes and Growth (TAG) Model to simulate the effects of government tax and spending policies on the economy and on government revenues and budgets.
9 min read
The ongoing economic uncertainty from global geopolitical threats, supply chain disruptions, rising interest rates, and lagging economic growth in many developed countries have highlighted the importance of private business investment.
32 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