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environmental tax policies, environmental taxation

Countries Eye Environmental Taxation

A recent OECD report on 2020 tax reforms reveals an increase in the number of environmentally-related tax policies, including gas taxes, carbon taxes, and taxes on electricity consumption.

5 min read

Looking Back on 30 Years of Carbon Taxes in Sweden

Implemented in 1991, Sweden’s carbon tax was one of the first in the world. Since then, Sweden’s carbon emissions have been declining, while there has been steady economic growth. Today, Sweden levies the highest carbon tax rate in the world and its carbon tax revenues have been decreasing slightly over the last decade.

21 min read
Maryland alcohol tax, Maryland beer tax, Maryland wine tax

Maryland Lawmakers Look to Alcohol for New Revenue

While there are legitimate reasons for increasing and levying excise taxes, legislatures should proceed with caution in the aftermath of the pandemic. Importantly, revenue from increased excise taxes should generally be allocated to spending related to the negative externalities as that revenue is too volatile and unreliable to rely on for long-term budget priorities.

3 min read
How have your state's tax revenues changed in FY 2020 compared to FY 2019? State revenue collections beat state revenue expectations in FY 2020 despite coronavirus pandemic and economic downturn

New Census Data Shows States Beat Revenue Expectations in FY 2020

State tax revenue collections were down 5.5 percent in FY 2020, driven by a dismal final quarter (April through June) as states began to feel the impact of the COVID-19 pandemic. While these early losses are certainly not desirable, they are manageable and far better than many feared.

16 min read
EU budget tax EU tax, excise state of mind, excise tax trend to fill budget gaps

An Excise State of Mind

Even during a crisis when budgets are squeezed, policymakers should put their efforts into serious reforms of existing income and consumption taxes rather than leaving good tax policy behind for an excise state of mind.

6 min read
Vehicle miles traveled tax VMT tax, motor fuel tax, transportation funding, highway trust fund economic impact of increased infrastructure spending

Who Will Pay for the Roads?

The highway trust fund is on track to run out of money by 2021, states are struggling to cover their transportation spending, and increased fuel economy, plus inflation, is chipping away at gas tax revenue year. How can Congress and state governments ensure they have the revenue necessary to fund our highways? One solution is the vehicle miles traveled (VMT) tax.

35 min read
The Sticks: Inflation Reduction Act’s Energy-Related Tax Increases

How the CARES Act Fixed a Tax Bias Against Green Investment

One under-discussed part of the CARES Act, passed in March to provide economic relief during the COVID-19 epidemic, is a correction to a drafting error in the Tax Cuts and Jobs Act of 2017, often known as the “retail glitch.”

3 min read
Learn more about the proposed Canada digital tax. Canada digital services tax

Higher Taxes Might Not Be the Solution for Canada and its Provinces

First, the introduction of the wealth tax would significantly impact international capital flows and cause large economic dislocations in the short term. Second, provinces that are looking at raising their corporate tax rates might hinder capital attraction, growth, and economic recovery.

4 min read
wealthy inequality, pensions and social security, new research from federal reserve bank of boston Massachusetts ban on flavored cigarettes, Massachusetts ban on flavored tobacco

Massachusetts Ban of Flavored Cigarettes Is Getting Expensive

Aside from public health concerns, a ban on flavored tobacco, especially when including cigarettes, has significant tax implications and could result in unintended consequences such as increased smuggling. In Massachusetts, more than 20 percent of cigarettes smoked are purchased out of state.

5 min read
State Income Tax Revenue from Unemployment Compensation SMART Act, state and local aid, state tax revenue collections beat state revenue expectations in FY 2020 coronavirus pandemic

State Income and Sales Tax Revenues Slide in Second Quarter

Today marked the release of second-quarter GDP data and provides a new glimpse into early changes in state and local revenues and spending. All told, second-quarter state and local tax receipts came in about 3.8 percent lower than they did in the same quarter a year ago. Income and sales taxes fell considerably while property and excise tax collections remained stable.

3 min read
2020 state gas tax rates, 2020 state fuel excise taxes, 2020 state gas tax rates by state, 2020 gas taxes

State Gasoline Tax Rates as of July 2020

California pumps out the highest tax rate of 62.47 cents per gallon, followed by Pennsylvania (58.7 cpg), Illinois (52.01 cpg), and Washington (49.4 cpg).

2 min read