Wartime Taxes Are Waging War on Sound Policy Choices
Spain’s central government is considering making its windfall taxes on energy companies and the banking sector permanent.
6 min read
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Another Huge Federal Deficit in Fiscal Year 2024 Despite Surging Corporate and Other Tax Collections
While federal tax collections—especially corporate taxes—have reached historically high levels, these gains have not kept pace with escalating spending, particularly on debt interest, leading to a substantial and concerning budget deficit in FY24.
6 min read
What Does Moving Toward a More Competitive EU Tax System Mean?
As the geopolitical scene continues to change, policymakers in Europe should focus on lowering effective marginal tax rates to drive much-needed investment and long-term economic growth.
6 min read
The French Budget: Moving from Public Debate to Principled Solutions
Focusing on competitiveness, neutrality, and efficient policies to raise revenue would go a long way in increasing economic growth and stabilizing public finances over the long term.
7 min read
Why the Economic Effects of Taxes (Including Tariffs) Matter
Estimating the economic effects of different types of taxes informs policymakers about the trade-offs of raising revenue in a given way.
5 min read
Extended Producer Responsibility
Growing levels of waste and pollution, paired with increasing burdens on taxpayers to address environmental problems, have spurned policymakers in the US and abroad to encourage producers to be responsible, either financially or operationally, for the end-life of their products.
34 min read
Testimony: Lessons for the 2025 Tax Policy Debate
The stakes for next year’s expiring tax provisions are quite high. If Congress does nothing, then 62 percent of households will see their taxes go up in January of 2026.
Windfall Profit Taxes in Europe, 2024
The flawed design of these windfall profits taxes has created problems in countries that implemented them.
4 min read
What European Countries Are Doing about Oil and Gas Windfall Profits Taxes
Rather than pursuing temporary policies, policymakers should implement long-term, pro-growth tax reforms that stimulate economic activity and incentivize energy diversification by supporting private investment through full expensing.
19 min read
10 Less Harmful Ways of Raising Federal Revenues
If lawmakers are convinced that new revenues must be part of any long-term effort to solve the budget crisis or offset the cost of extending the TCJA, they must choose the least harmful ways of raising new revenues or else risk undermining their efforts by slowing economic growth.
7 min read
Diesel and Gas Taxes in Europe, 2024
Gas and diesel taxes continue to be prominent policy issues throughout Europe. As the EU undergoes sweeping changes for its green transition, fuel taxes are likely to be a crucial aspect of policy discussions.
3 min read
How Do Governments Raise Revenue?
The government provides various services at the federal, state, and local levels. How are they paid for? Taxes.
Expanding User Fees for Transportation: Roads and Beyond
By 2034, the gas tax and other car-related excise taxes are projected to raise less than half of the Highway Trust Fund’s outlays. While broader tax and spending reforms are necessary for overall deficit reduction, improving transportation funding would be a crucial step forward.
34 min read
Gas Tax Rates by State, 2024
Though gas taxes are intended to serve as user fees and pollution deterrents, they vary widely across states. How does your state’s burden compare?
4 min read
Placing Biden and Trump Tax Proposals in Historical Context
From President Biden calling the Tax Cuts and Jobs Act the “largest tax cut in American history,” to former President Trump claiming that Biden “wants to raise your taxes by four times,” the campaign rhetoric on taxes may be sparking some confusion.
5 min read
White House Right on Importance of Business Investment, Wrong on Relevant Policy
The Treasury Department recently touted strong business investment in the years following the pandemic-driven recession and pointed to the Biden administration’s industrial policies in the Inflation Reduction Act and CHIPS Act as key drivers.
7 min read
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
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
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
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