Good Policy Leads to More Tax Cuts for West Virginia
Next year, West Virginians will see an income tax cut thanks to revenue triggers in a 2023 law. The Mountain State joins 14 other states that have cut income taxes this year.
4 min read
All Related Articles
Current Challenges in Vaping Markets
As much as 98 percent of vaping products sold in the US are illicit. Most states levy an excise tax on vaping products, but these tax systems vary substantially. The result is a messy tax system covering largely illicit products, and no one knows whether taxes are being collected and remitted on most products sold nationwide.
7 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
How Does the IRA’s Book Minimum Tax Affect 5G Competition?
A higher tax burden for private infrastructure investments like wireless spectrum, 5G technology, and machinery and equipment makes an existing problem worse—especially against the backdrop of outright state subsidies in countries like China.
6 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
Vaping Taxes by State, 2024
The vaping industry has grown rapidly in recent decades, becoming a well-established product category and a viable alternative to cigarettes for those trying to quit smoking. US states levy a variety of tax structures on vaping products.
4 min read
Details and Analysis of President Biden’s Fiscal Year 2025 Budget Proposal
President Biden is proposing extraordinarily large tax hikes on businesses and the top 1 percent of earners that would put the US in a distinctly uncompetitive international position and threaten the health of the US economy.
19 min read
Tax Neutrality: Balancing Priorities
Neutral tax codes don’t play favorites or try to influence personal or business decisions but stick to what they’re best at – raising sufficient revenue through low rates and a broad base.
Carbon Taxes in Europe, 2024
23 European countries have implemented carbon taxes, ranging from less than €1 per metric ton of carbon emissions in Ukraine to more than €100 in Sweden, Liechtenstein, and Switzerland.
3 min read
Worldwide Investment at Risk as Capital Allowances Phase Out
Rather than adopt temporary policies that phase out and expire, policymakers should focus their efforts on long-term reforms to support investment.
6 min read
Beer Taxes by State, 2024
Different layers of taxation on production and distribution combine to make up about 40 percent of the retail price of beer.
3 min read
Capital Cost Recovery across the OECD, 2024
To recover from the pandemic and put the global economy on a trajectory for growth, policymakers need to aim for more generous and permanent capital allowances. This will spur real investment and can also contribute to more environmentally friendly production across the globe.
31 min read
Distilled Spirits Taxes by State, 2024
Newer products like spirits-based hard seltzers and ready-to-drink cocktails have fueled growth, while also blurring the lines of a categorical tax system. The result has been a spirited competition throughout the alcohol industry for market share, including calls to reform tax policy.
3 min read
Vehicle Miles Traveled Taxes Rollout across States
Gas tax revenues have decoupled from road expenses and have been unable to support road funding in recent years. As such, states nationwide are exploring ways to supplement or replace gas tax revenues.
8 min read
From Gallons to Miles: Rethinking Road Taxes
Buckle up as we navigate the twists and turns of infrastructure and road funding. As electric vehicles gain traction, traditional gas taxes are running out of fuel to support our infrastructure budget.
How Burdensome Are Your State’s Nonresident Income Tax Filing Laws?
One relatively easy but meaningful step policymakers can take to make future tax seasons less burdensome is to modernize their state’s nonresident income tax filing, withholding, and reciprocity laws.
7 min read