Windfall Profits Tax Wrong for American Energy
As oil prices skyrocket, a windfall profits tax targeted at oil company profits could punish domestic production and increase reliance on imports.
3 min read
All Related Articles
Russia’s Ukrainian War Could Impact EU Carbon Proposal Too
Given the uncertainty surrounding the war in Ukraine, future trade relations with Russia, and the overall CBAM revenue structure. The EU will need to adjust policy when challenges arise as it looks to increase its role in fiscal affairs through new own resources.
5 min read
Taxes, Tariffs, and Industrial Policy: How the US Tax Code Fails Manufacturing
Policymakers actively marginalized the manufacturing sector by saddling them with cost recovery rules that prevent them from deducting the full cost of investment in physical plant and equipment. Going forward, policymakers should avoid haphazard fixes, targeted measures, and protectionism.
50 min read
Post-Versailles Declaration: Tax Policy in the Future of European Energy Security
The unified EU signing of the “Versailles Declaration” is a historic break from the past. Russia’s war against Ukraine has made energy (and related tax policies) an even more urgent focus for the EU.
6 min read
Florida Gas Tax Holiday Has Negligible Benefits—But Other States Seem Ready to Follow
A gas tax holiday may be good politics, but it’s unlikely to achieve its aims. There are far better ways to provide tax relief—short- or long-term—than an inefficient gas tax suspension.
4 min read
A Gas Tax Holiday
The cost of gas is going up. To address this, policymakers have proposed suspending the gas tax. But could this actually make matters worse? We discuss why suspending the gas tax might be a mistake and what lawmakers could do to help with the rising costs of gas.
Federal Menthol Cigarette Ban May Cost Governments $6.6 Billion
The FDA’s expected announcement of a national ban on menthol-flavored cigarettes and cigars with a characterizing flavor would carry significant revenue implications for both the federal government and state governments, with likely limited benefits in smoking cessation.
6 min read
Federal Gas Tax Holiday? Suspending the Gas Tax Is a Mistake
If policymakers are looking to change the tax code to help fight inflation, they should pump the brakes on the federal gas tax holiday and instead consider structural reforms to raise the economy’s productive capacity in the long term.
4 min read
10 Tax Reforms for Growth and Opportunity
By reducing the tax code’s current barriers to investment and saving and simplifying its complex rules, lawmakers would greatly enhance the ability of Americans to pursue new ideas, create more opportunities, and build financial security for themselves and their families.
40 min read
Large Spread in Tax Treatment of Sports Betting Operators
Since 2018, 30 states and the District and Columbia have legalized and imposed taxes on sports betting. States that have yet to legalize, but which may do so, should pay attention to the impact of tax design in states that already have legal and taxed sports betting—specifically tax base design.
8 min read
Massachusetts Flavored Tobacco Ban: No Impact on New England Sales
A recent JAMA Internal Medicine study on the impact of the Massachusetts flavored tobacco ban indicates that it has been a success. Unfortunately, it left out a very important piece of information: cross-border trade.
4 min read
Indonesia Reform Simplifies Tobacco Taxes but More Work Remains
More than 300 billion cigarettes are sold each year in Indonesia—making it the world’s second-largest cigarette market to China. As such, it is important how Indonesia taxes tobacco products.
4 min read
Four Issues with Proposal to Increase Tobacco and Vapor Taxes in Maine
Maine’s proposal to increase tobacco and vapor taxes has at least four major issues: flawed revenue allocation, risk of increased smuggling, regressivity, and violation of the harm reduction principle.
4 min read
Tennessee Should Build on Success and Improve Corporate Taxes
While Tennessee now boasts no individual income tax, there is still more work to be done for businesses—Tennessee is in a good position to get the job done.
7 min read
Proposal to Raise Vapor Taxes in Washington State Gets Base and Rate Wrong
Lawmakers in Washington need not revisit their vapor tax. The current tax is levied at an appropriate level and it has the right tax base.
3 min read
Poor Tax Design in Alaska Vapor Tax Proposal
A proposal to introduce a wholesale tax on vapor products in Alaska could make switching from combustible tobacco products very expensive for smokers.
4 min read
A Holiday Tradition: Tax Extenders Slated to Expire at End of 2021
Tax extenders this year can be split into three rough groups: expiring parts of the Tax Cuts and Jobs Act (TCJA), expiring parts of various COVID-19 economic relief packages, and the Island of Misfit Extenders.
8 min read