Environmental, Energy, and Transportation Taxes

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2022 state tax changes effective January 1, 2022 child tax credit changes and child tax credit reform options 2021 state tax changes July 1 2021 US business tax collections remained close to historical norm in 2018. US business tax revenue and taxes paid by pass-through firms
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State Tax Changes Taking Effect July 1, 2021

Thirteen states have notable tax changes taking effect on July 1, 2021, which is the first day of fiscal year (FY) 2022 for every state except Alabama, Michigan, New York, and Texas. Individual and corporate income tax changes usually take effect at the beginning of the calendar year for the sake of maintaining policy consistency throughout the tax year, but sales and excise tax changes often correspond with the beginning of a fiscal year.

11 min read
expensing infrastructure 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
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Expensing Is Infrastructure, Too

The Biden administration has suggested several tax increases for his infrastructure plan. Public infrastructure can help increase economic growth, but by raising taxes on private investment, the net effect on growth may be negative. However, tax options like retaining expensing for private R&D investment or making 100 percent bonus depreciation for equipment permanent would be complementary to the goals of infrastructure spending.

5 min read
Federal highway fund taxes federal infrastructure funding for highways federal excise tax on heavy commercial vehicles
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Infrastructure Funding for Highways Digs into Issues of Outdated Taxes and Narrow Bases

As spending priorities are dividing lawmakers trying to negotiate among the various federal infrastructure plans, less time is being spent on the funding of one of the key components—our highways, both current and future taxes and fees. One of the current taxes, a federal excise tax on heavy commercial vehicles and trailers, is an important revenue generator, but its flawed tax design has a negative impact on investment and leads to unstable revenue.

4 min read
Business tax hikes Some Corporations Pay Zero Federal Income Taxes—and That Is Not a Problem Democrats child tax credit plan. tax administration issues, tax complexity cares act. trump tax cuts who benefited taxpayer subsidies for drug ads
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Explaining the GAAP between Book and Taxable Income

A recent study identifies dozens of large companies that paid no income taxes in 2020. While such studies get headlines and may seem shocking, the reality is much more mundane.

5 min read
2021 Carbon Taxes in Europe Which European Countries have a carbon European Countries have a carbon tax Sweden
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Europe

Carbon Taxes in Europe, 2021

In recent years, several countries have taken measures to reduce carbon emissions, including instituting environmental regulations, emissions trading systems (ETS), and carbon taxes.

2 min read
Financing Additional Infrastructure Spending with Corporate Tax Increases Would Stunt Economic Growth Biden Infrastructure plan American Jobs Plan new infrastructure $1 trillion in additional infrastructure
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Financing Infrastructure Spending with Corporate Tax Increases Would Stunt Economic Growth

The Biden administration’s American Jobs Plan proposal to fund infrastructure spending relies on a bet that the benefits outweigh the costs of a higher corporate tax burden. Using the Tax Foundation model, we find that this trade-off is a bad one for the U.S. economy, resulting in reduced GDP, less capital investment, fewer jobs, and lower wages.

3 min read
State infrastructure revenue and state infrastructure spending, How are roads funded in your state? Road funding by state, infrastructure spending by state, infrastructure revenue by state, gas taxes and tolls 2021
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How Are Your State’s Roads Funded?

Traditionally, revenue dedicated to infrastructure spending has been raised through taxes on motor fuel, license fees, and tolls, but revenue from motor fuel has proven less effective over the last few decades.

4 min read
State local tax collections per capita in your state, 2021 state and local tax collections per capita in your state, 2021 state and local tax collections per capita by state
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How High Are State and Local Tax Collections in Your State?

Although Tax Day has been pushed back this year, mid-April is still a good occasion to take a look at tax collections in the United States. Because differing state populations can make overall comparisons difficult, today’s state tax map shows state and local tax collections per capita in each of the 50 states and the District of Columbia.

2 min read
PA gas tax proposal seeks to phase out the PA gas tax (Pennsylvania gas tax) to fund PA highway funding. Learn more about the Gov. Tom Wolf gas tax proposal
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Will Pennsylvania Be the First State to Motor Past the Gas Tax?

In Pennsylvania, Gov. Tom Wolf (D) has proposed phasing out the gas tax as the main funding mechanism for the state’s highway fund, and he has established a commission to recommend options for replacing it with alternative revenue sources. In a statement, the governor called the current motor fuel tax burdensome, outdated, and unreliable.

5 min read
Excise Taxes, 2021 Excise Tax Rates and 2021 Excise Tax Trends
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Excise Tax Application and Trends

The excise tax family is growing. Over the last decade, several products have become subject to excise taxes or are in the process of becoming so. Given this development, it is more crucial than ever that lawmakers, businesses, and consumers understand the possibilities and, more importantly, limitations of excise tax application.

77 min read
Ron Wyden energy tax proposal in Biden infrastructure bill. Katie Porter oil executive tax deduction
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Wyden’s Energy Tax Proposal a Mixed Bag

As the Biden administration turns toward infrastructure, Sen. Ron Wyden (D-Or.) has suggested including reforms to the way the tax code subsidizes energy production in such a package, eliminating 44 “tax breaks” for various activities in the energy sector and replacing them with only three.

3 min read