Tax Files under New Council of EU Presidency: Belgium
In such a determinant semester for Europe, principled tax policy can be an important tool for a more competitive European Union.
5 min readIn such a determinant semester for Europe, principled tax policy can be an important tool for a more competitive European Union.
5 min readAt the beginning of 2024, a fee on certain methane emissions took effect. While insignificant on its own, it is the first U.S. federal-level effort to price greenhouse gas emissions to combat climate change.
3 min readThirty-four states will ring in the new year with notable tax changes, including 15 states cutting individual or corporate income taxes (and some cutting both).
17 min readAn alcohol by volume (ABV) tax could replace the existing alcohol tax system. An ABV tax would make alcohol taxes simpler, more transparent, and substantially more neutral than the current system.
18 min readA national-level carbon price—a tax or cap-and-trade scheme placed on CO2 or other greenhouse gases—may seem distant in the U.S., especially since the Inflation Reduction Act, which included major climate policy, omitted one. However, policymakers on both sides of the aisle have been nibbling around the edges of carbon taxes.
5 min readMarijuana taxation is one of the hottest policy issues in the United States. Twenty-one states have implemented legislation to legalize and tax recreational marijuana sales.
16 min readPeople respond to incentives. As tax rates increase or products are banned from sale, consumers and producers search for ways around these penalties and restrictions.
17 min readRather than adopt temporary policies that phase out and expire, policymakers should focus their efforts on long-term reforms to support investment.
5 min readContrary to initial expectations, the pandemic years were good for state and local tax collections, and while the surges of 2021 and 2022 have not continued into calendar year 2023, revenues remain robust in most states and well above pre-pandemic levels even after accounting for inflation.
4 min readWhile existing carbon taxes are a step towards the right direction in addressing climate change and incentivizing reductions in emissions, there is considerable room for improvement to reach the ideal theoretical carbon tax model.
59 min readLawmakers should simplify the tax code so that taxpayers can understand the laws and the IRS can administer them with minimum cost and frustration.
36 min readTo alleviate the regressive impact on wireless consumers, states should examine their existing communications tax structures and consider policies that transition their tax systems away from narrowly based wireless taxes and toward broad-based tax sources.
18 min readIt’s been almost a year since California banned the sale of all flavored tobacco products, and the big question is: did it work?
4 min readIn recognition of the fact that there are better and worse ways to raise revenue, our Index focuses on how state tax revenue is raised, not how much. The rankings, therefore, reflect how well states structure their tax systems.
111 min readMinimum markup policies tend to be wildly unpopular among both taxpayers and policymakers. Lawmakers should carefully evaluate whether minimum markup laws are policies that improve the well-being of their constituents.
3 min readOutside of the pandemic years, this year’s federal deficit is the highest in U.S. history. While tax revenue has increased about 28 percent since the pre-pandemic year 2019, spending has increased about 46 percent. Annual deficits are headed towards $3 trillion over the next few years.
3 min readAt the most recent Republican primary debate, former governor and United Nations ambassador Nikki Haley (R-SC) proposed eliminating the federal gas tax to lower fuel prices for consumers.
3 min readIn recent years, European countries have undertaken a series of tax reforms designed to maintain tax revenue levels while protecting households and businesses from high inflation.
8 min readOne prominent feature of President Biden’s agenda on the environment is to target U.S. fossil fuel producers and production with nearly $97 billion in tax increases over the next decade.
16 min read