Details and Analysis of President Biden’s FY 2022 Budget Proposals
Explore President Biden budget proposals, including tax and spending in American Jobs Plan and American Families Plan. See Biden tax and spending proposals.
12 min read
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Tracking the 2021 Biden Tax Plan and Federal Tax Proposals
Taxes are once again at the forefront of the public policy debate as legislators grapple with how to fund new infrastructure spending, among other priorities. Our tax tracker helps you stay up-to-date as new tax plans emerge from the Biden administration and Congress.
1 min read
Taxing Consumption Progressively Is a Better Way to Tax the Wealthy
Policymakers concerned about the current tax treatment of unrealized capital gains would be better off exploring policy solutions like consumption taxes rather than tried-and-failed strategies.
5 min read
Dividend Tax Rates in Europe, 2021
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Taxing Unrealized Capital Gains at Death Is Unlikely to Raise Revenue Advertised
As part of the tax proposals in President Biden’s American Families Plan, unrealized capital gains over $1 million would be taxed at death. However, this policy would likely raise less revenue than advocates expect after considering the proposal’s impact on taxpayer behavior, including capital gains realizations, and historical capital gains and estate tax revenue collections.
5 min read
Taxing Capital – An International Comparison
The taxation of capital—at both the individual and the corporate level—is much debated and affects economic growth by lowering the incentives to save and invest.
6 min read
U.S. Top Combined Integrated Tax Rate on Corporate Income Would Become Highest in the OECD
Under President Biden’s tax plan, the United States would tax corporate income at the highest top rate in the industrialized world, averaging 65.1 percent.
3 min read
Tax Policy in the First 100 Days of the Biden Administration
In his first 100 days as president, Joe Biden has proposed more than a dozen significant changes to the U.S. tax code that would raise upwards of $3 trillion in revenue and reduce incentives to invest, save, and work in the United States.
4 min read
Biden’s Proposed Capital Gains Tax Rate Would be Highest for Many in a Century
The Biden administration is proposing to tax long-term capital gains at ordinary income rates for high earners, which will bring the top federal rate to highs not seen since the 1920s.
2 min read
Top Combined Capital Gains Tax Rates Would Average 48 Percent Under Biden’s Tax Plan
The top federal rate on capital gains would be 43.4 percent under Biden’s tax plan (when including the net investment income tax). Rates would be even higher in many U.S. states due to state and local capital gains taxes, leading to a combined average rate of over 48 percent compared to about 29 percent under current law.
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Capital Gains Tax Rates in Europe, 2021
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Facts and Figures 2021: How Does Your State Compare?
Our updated 2021 edition of Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
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New Hampshire Bill Aims to Reduce Tax Burden on Businesses
A year ago, it seemed possible that New Hampshire was headed toward a triggered tax increase. Instead, lawmakers may trim business tax rates and begin the phaseout of the state’s tax on interest and dividend income, which would take away the asterisk and make New Hampshire the ninth state to forgo an individual income tax altogether.
4 min read
Changes to the Tax Base Matter When Evaluating the Impact of Tax Reforms
A new study illustrates how overlooking an important element of the tax system—the structure of the tax base—can lead to an incomplete understanding of how tax reform impacts the economy.
4 min read
Sources of Government Revenue in the OECD, 2021 Update
Developed countries have on average become more reliant on consumption taxes and less reliant on individual income taxes. These policy changes matter, considering that consumption-based taxes raise revenue with less distortionary effects than taxes on income.
16 min read
Financial Transaction Taxes in Europe
Belgium, Finland, France, Ireland, Italy, Poland, Spain, Switzerland, Turkey, and the United Kingdom currently levy a type of financial transaction tax
2 min read
What the GameStop Saga Can Teach Us About Mark-to-Market Taxation of Capital Gains
Whether you see the GameStop saga as a Robin Hood-style victory for the little guys or as a case of disruptive investor hysteria, it provides an interesting case study in just how badly the mark-to-market treatment of capital gains income could go awry.
6 min read