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![Impending recession market crash recession definition federal reserve actionsfiscal policy inflation tax options, fiscal inflation taxes](https://taxfoundation.org/wp-content/uploads/2020/11/federal-reserve-building-3-300x200.jpeg)
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Arkansas’s Rate Reduction Acceleration
Arkansas recently became the 13th state to authorize an individual income tax rate reduction this year. This round of tax cuts accelerated reforms enacted eight months ago.
7 min read![OECD Pillar 1 Amount A proposal OECD Secretariat, OECD unified approach pillar 1, OECD pillar 1, OECD international tax, OECD unified approach digital tax, OECD multinational businesses, OECD digital tax](https://taxfoundation.org/wp-content/uploads/2019/10/flag-oecd-international-3-e1571950955538-300x200.jpeg)
Tax Foundation Response to OECD Consultation on Amount A of Pillar One
Pillar One Amount A is meant to reallocate taxable profits of large multinationals, mitigate double taxation of profits, and avoid a harmful tax and trade war.
5 min read![IRS tax enforcement provisions to increase IRS budget and IRS funding See more on IRS expansion and Inflation Reduction Act IRS details](https://taxfoundation.org/wp-content/uploads/2022/08/IRS-tax-enforcement-and-administration-e1660748636255-300x200.jpeg)
How to Think About IRS Tax Enforcement Provisions in the Inflation Reduction Act
The Inflation Reduction Act increases the IRS’s budget by roughly $80 billion over 10 years. The money is broken into four main categories—enforcement, operations support, business system modernization, and taxpayer services—as well as a few other small items such as an exploratory study on the potential of a free-file system.
6 min read![FDA Ban on Flavored Cigars Could Cost $836 Million in Annual Excise Cigar Tax Revenue See FDA ban flavored cigars](https://taxfoundation.org/wp-content/uploads/2022/08/FDA-Ban-on-Flavored-Cigars-Could-Cost-836-Million-in-Annual-Excise-Cigar-Tax-Revenue-See-FDA-ban-flavored-cigars-300x260.png)
FDA Ban on Flavored Cigars Could Cost $836 Million in Annual Excise Tax Revenue
The FDA’s proposal to ban flavored cigars would carry significant revenue implications for many state governments.
7 min read![State marriage penalty, state marriage penalties, does your state have a marriage penalty 2022 state marriage penalty tax impacts](https://taxfoundation.org/wp-content/uploads/2022/08/State-marriage-penalty-state-marriage-penalties-does-your-state-have-a-marriage-penalty-tax-impacts-2022-300x263.png)
Does Your State Have a Marriage Penalty?
A marriage penalty exists when a state’s income brackets for married taxpayers filing jointly are less than double the bracket widths that apply to single filers. In other words, married couples who file jointly under this scenario have a higher effective tax rate than they would if they filed as two single individuals with the same amount of combined income.
2 min read![Inflation Reduction Act stock buyback tax Making the expanded child tax credit permanent American Rescue Plan Act. House Democrats covid plan. House Ways and Means coronavirus relief legislation. House Ways and Means committee coronavirus relief legislation. Ways and Means Chairman Richard E. Neal coronavirus relief package. New coronavirus relief bill summary, Stimulus check round 2, unemployment benefits](https://taxfoundation.org/wp-content/uploads/2020/12/capitol-capital-dc-lawmakers-tax-policy-e1608586633420-300x202.jpeg)
Stock Buyback Tax Would Hurt Investment and Innovation
The Inflation Reduction Act calls for a new 1 percent excise tax on stock buybacks, the argument being it would be better for the economy if firms invested their surplus cash in the business, rather than returning this value to shareholders.
3 min read![need dynamic scoring importance of dynamic scoring, Joint Economic Committee](https://taxfoundation.org/wp-content/uploads/2015/08/capitol-sun-e1562892572140-300x199.jpeg)
House Votes on the Inflation Reduction Act
The House of Representatives is set to pass the Inflation Reduction Act, the latest iteration of President Biden’s tax and climate agenda. Garrett Watson joins Jesse to discuss what sacrifices were made by key lawmakers to bring this bill to the finish line. They also look at what the economic impact of this proposal would be as the country continues to face historic rates of inflation.
![Who bears the burden of corporate taxes? Learn more about who bears the burden of the corporate income tax (who actually pays corporate taxes) and the corporate tax burden](https://taxfoundation.org/wp-content/uploads/2021/05/linkedin-In-Stream_Wide___manufacturing_factory_worker_optimized-e1621373838916-300x158.jpg)
Who Gets Hit by the Inflation Reduction Act Book Minimum Tax?
In dollar terms, the industries that would account for the largest book minimum tax liabilities are manufacturing, at $73.2 billion, followed by finance, insurance, and management at $46.9 billion.
6 min read![Inflation Reduction Act Tax Provisions and Impact Analysis](https://taxfoundation.org/wp-content/uploads/2022/08/Inflation-Reduction-Act-Tax-Provisions-and-Impact-Analysis-300x199.png)
Details & Analysis of the Inflation Reduction Act Tax Provisions
How will the Inflation Reduction Act taxes impact inflation, economic growth, tax revenue, and everyday taxpayers? See Inflation Reduction Act tax changes.
12 min read![Digital services taxes in Europe digital tax Europe 2022 digital taxes](https://taxfoundation.org/wp-content/uploads/2022/08/DST-June-2022-300x289.png)
Digital Services Taxes in Europe, 2022
About half of all European OECD countries have either announced, proposed, or implemented a digital services tax.
4 min read![Inflation Reduction Act book minimum tax Inflation Reduction Act accelerated depreciation change in corporate tax liablities, book tax, or corporate minimum tax congressional budget office cbo Eliminating the alternative minimum tax eliminating the AMT inflation indexing, inflation adjusting state tax codes, traditional CPI, index brackets for inflation, index for inflation](https://taxfoundation.org/wp-content/uploads/2018/06/Pass-Through-Deduction-Calculator-300x225.jpg)
Minimum Book Tax: Flawed Revenue Source, Penalizes Pro-Growth Cost Recovery
While exempting accelerated depreciation from the book minimum tax would reduce some of the economic harm of the tax, there remain many unresolved problems within the design and structure of the tax that make it a poorly chosen revenue option.
3 min read![Inflation Reduction Act corporate taxes most economically damaging way to raise revenue Raise the corporate tax rate, raise corporate tax rate, corporate tax hike, corporate tax increase, corporate tax burden](https://taxfoundation.org/wp-content/uploads/2019/11/manufacturing-factory-worker-labor-full-expensing-jobs-corporate-investment-economy-e1573485360412-300x200.jpeg)
Reminder that Corporate Taxes Are the Most Economically Damaging Way to Raise Revenue
In the rush to pass the Inflation Reduction Act, which features an ill-conceived tax on the book income of U.S. corporations, it is worth reminding policymakers of a well-established finding in the economic literature.
3 min read![corporate alternative minimum tax corporate amt or corporate minimum tax build back better additional relief for coronavirus, additional stimulus payments](https://taxfoundation.org/wp-content/uploads/2022/08/capitol-4-dc-e1659642693244-300x200.jpeg)
It Would Be a Mistake to Resurrect Corporate Alternative Minimum Tax
The Inflation Reduction Act may be smaller than the proposed Build Back Better legislation from 2021, but both sets of legislation propose a reintroduced corporate alternative minimum tax (AMT). The 30-year experience with a corporate AMT shows it is not a good solution.
4 min read![Inflation Reduction Act minimum tax or Inflation Reduction Act corporate minimum tax Biden OECD tax proposals hurt FDI Ways and Means proposal profit shifting, federal corporate income tax liabilities under Ways and Means profit shifting proposal](https://taxfoundation.org/wp-content/uploads/2021/10/USA-global-tax-international-tax-e1633624423442-300x200.jpeg)
How Does the Inflation Reduction Act Minimum Tax Compare to Global Minimum Tax?
Over the course of the last year, it has become clear that Democratic lawmakers want to change U.S. tax rules for large companies. However, as proposals have been debated in recent months, there are have been clear divides between U.S. proposals and the global minimum tax rules.
6 min read![Federal cigarette tax harm reduction efforts, federal cigarette tax proposal House Democrats tobacco tax New Year's Resolutions for tax policymakers. New Year's Resolutions for tax policy](https://taxfoundation.org/wp-content/uploads/2020/12/capitol-32-300x199.jpg)
The Inflation Reduction Act, What to Know
The Inflation Reduction Act would raise taxes on corporations and top earners with the goal of funding a number of programs to reduce carbon emissions, address prescription drug costs, and spur the economy. Garrett Watson joins Jesse Solis to talk through what these tax changes would mean for the economy: Will they reduce inflation, and do they break the President’s pledge not to raise taxes on those earning less than $400,000?
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3 Observations on the CBO Long-Term Budget Outlook
The latest CBO long-term budget outlook paints a troubling picture of fiscal irresponsibility. Rather than halt this rampant spending, Congress is actively adding programs that will exacerbate these long-term trends.
7 min read![Do tax increases reduce inflation. See higher taxes inflation policies and cause for inflation amid looming recession](https://taxfoundation.org/wp-content/uploads/2022/07/dc-us-capitol-building-e1658857063614-300x204.jpeg)
Push for Higher Taxes Is Misguided During a Time of Inflation and Looming Recession
Some 40 years ago, the U.S. dealt with high inflation and slow economic growth. Then as now, the solution is a long-term focus on stronger economic growth and sustainable federal budgets.
5 min read![Biden semiconductors computer Biden chips act subsidies could be a wasteful federal program](https://taxfoundation.org/wp-content/uploads/2022/07/semiconductor-computer-chip-bill-e1658433736676-300x200.jpeg)
Chips Are Down in Semiconductor Tax World
The Senate has begun debate on the so-called Chips bill, which would provide $52 billion in grants and $24 billion in tax credits to supposedly strengthen the production of semiconductors in the U.S.
3 min read