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state flat tax trend and state flat income taxes 2024

The State Flat Tax Revolution: Where Things Stand Today

In 2021 and 2022 alone, more states enacted laws converting graduated-rate individual income tax structures into single-rate income tax structures than did so in the whole 108-year history of state income taxation up until that point.

10 min read
US deficits, spending, and taxes CBO Budget and Economic Outlook 2024

Major Takeaways from CBO’s Updated Long-Term Outlook

The CBO projects deficits will be higher than historical levels, largely due to growth in mandatory spending programs While some recent legislation has reduced the deficit, the Inflation Reduction Act is proving to be more expensive than originally promised.

5 min read
2024 Top Personal Income Tax Rates in Europe

Top Personal Income Tax Rates in Europe, 2024

Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) have the highest top statutory personal income tax rates among European OECD countries.

3 min read
2024 sales taxes including 2024 sales tax rates 2024 state and local sales tax rates

State and Local Sales Tax Rates, 2024

Retail sales taxes are an essential part of most states’ revenue toolkits, responsible for 32 percent of state tax collections and 13 percent of local tax collections (24 percent of combined collections).

9 min read
Five Facts to Know about the House Bipartisan Tax Deal

Five Facts to Know about the Bipartisan Tax Deal

The U.S. House of Representatives has passed a highly anticipated bipartisan tax deal. The Tax Relief for American Workers and Families Act now awaits action in the Senate.

6 min read
Maryland local income tax hike proposal

Maryland Considers Raising Local Income Taxes

Local income taxes in Maryland constitute about 35 percent of local tax collections and more than 17 percent of local revenue, giving Maryland’s localities the highest dependence on income taxes in the nation.

5 min read
Tax Foundation Discussion on the Harms of Retaliatory Tax and Trade Policies with Senator Blackburn

Tax Foundation Discussion on the Harms of Retaliatory Tax and Trade Policies

Historical evidence and recent studies have shown that retaliatory tax and trade proposals raise prices and reduce the quantity of goods and services available to U.S. businesses and consumers, resulting in lower incomes, reduced employment, and lower economic output.

5 min read
Portugal VAT tax reform options

Mind the Gap, Please! How Portugal Could Reform Its VAT System

Portugal’s value-added tax (VAT) policy is a treasure trove of tax oddities. Thankfully, VAT base broadening is an ideal instrument to give the Portuguese government the fiscal room to implement pro-growth tax reforms

4 min read