Alaskan lawmakers are actively debating this session whether they should open their digital borders to the online sports betting market. If legalization is a step Alaska decides to take, the right tax mix could result in notable fiscal advantages for the state.
Last Friday, the Supreme Court struck down President Trump’s IEEPA tariffs in a landmark 6-3 decision.
Notably, the OBBBA makes permanent the individual tax changes first put in place by the TCJA, which avoids a tax hike on an estimated 62 percent of tax filers in 2026.
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The pass-through business sector—including partnerships, S corporations, and sole proprietorships—employs most of the private-sector workforce in the US and accounts for about half of US business income.
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Fuel taxes continue to be a central policy consideration for European countries amid geopolitical conflicts, increased emphasis on environmental policy, and economic conditions experienced by average consumers.
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President Trump is scheduled to deliver the annual State of the Union address to Congress. The speech is bound to address a multitude of topics, but taxes and (especially) tariffs will certainly feature prominently.
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Coming into 2026, several states are eyeing new or increased Alternative Tobacco Product (ATP) taxes.
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As states grapple with taxing the evolving tobacco and nicotine market, policymakers should carefully consider the tax mix they implement.
The increased senior deduction with the phaseout would deliver a larger tax cut to lower-middle- and middle-income taxpayers compared to exempting all Social Security benefits from income taxation and would not weaken the trust funds as much. But given the temporary nature of the policy, it would increase the deficit-impact of the reconciliation bills without boosting long-run economic growth.
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Individual income taxes are a major source of state government revenue, accounting for more than a third of state tax collections. How do income taxes compare in your state?
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Michigan’s tax code remains too complex, and taxpayers should be asking for a system that bends toward simplicity, not the other way around.
Assessment limits are not sound tax policy. While well-intended, with hopes of preventing owners from being “taxed out of their homes,” the tax shifts, lock-in effects, and housing supply issues created by assessment limits make housing affordability worse.
State lawmakers around the country have begun their legislative sessions, and many are considering tax reform. This piece highlights some of the areas on which they are likely to focus.
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Our analysis of the major tax provisions included in the OBBBA finds it will increase long-run GDP by 0.7 percent. The major tax provisions will reduce federal tax revenue by nearly $5.2 trillion between 2025 and 2034, on a conventional basis.
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Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) levy the highest top personal income tax rates in Europe.
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Although New York’s 2027 budget proposal avoids tax increases on income, sales, and property taxes, it is full of policy proposals that threaten the long-run integrity of the state’s finances and harm New York taxpayers.
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Washington lawmakers are holding their first hearing on long-anticipated legislation that would create a new 9.9 percent tax on income over $1 million.
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Lawmakers in many states continue to pursue additional income tax relief, while their counterparts elsewhere pursue the opposite goal.
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With changes to payroll taxes likely to be part of a toolkit for reform, both policymakers and the public would benefit from understanding how the payroll tax works, who pays it, and its impact on the economy.
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AI technology has a wide range of potential economic outcomes. It would be a mistake to tailor tax policy to the extreme end of that range. Still, policymakers shouldn’t do nothing: they should instead make tax reforms that are sound regardless of which AI scenario emerges.
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