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![Gross income definition or gross pay definition Summary of the Latest Federal Income Tax Data, 2024 Update](https://taxfoundation.org/wp-content/uploads/2024/03/calculator-spreadsheet-data-300x200.jpeg)
![Tax stability](https://taxfoundation.org/wp-content/uploads/2024/04/Tax-Stability-2024-2-300x167.png)
Unstable Taxes and an Unpredictable Future
When the tax code is stable and predictable, individuals, families, and businesses can set goals for the future and make plans to achieve them.
![Inflation Reduction Act stock buyback tax Making the expanded child tax credit permanent American Rescue Plan Act. House Democrats covid plan. House Ways and Means coronavirus relief legislation. House Ways and Means committee coronavirus relief legislation. Ways and Means Chairman Richard E. Neal coronavirus relief package. New coronavirus relief bill summary, Stimulus check round 2, unemployment benefits](https://taxfoundation.org/wp-content/uploads/2020/12/capitol-capital-dc-lawmakers-tax-policy-e1608586633420-300x202.jpeg)
Testimony: International Tax Avoidance
Lawmakers should aim for policies that support investment and hiring in the United States and refining anti-avoidance measures to improve administrability and lower compliance costs.
9 min read![national poll data](https://taxfoundation.org/wp-content/uploads/2024/04/Alt-Social-15-300x300.png)
Survey Says Tax Confusion
All Americans are affected by the tax code—but do they understand the tax code?
![National Tax Literacy Poll Highlights Need for Better Tax Education](https://taxfoundation.org/wp-content/uploads/2024/04/National-Tax-Literacy-Poll-Highlights-Need-for-Better-Tax-Education-300x200.jpeg)
New National Tax Literacy Poll Highlights Need for Better Tax Education
Despite taxes playing a significant role in personal finances and being levied on a sizable portion of the U.S. population, most Americans are not just unhappy with the current tax code but also do not understand it.
4 min read![Vermont tax proposals 2024 Montpelier state capitol](https://taxfoundation.org/wp-content/uploads/2024/04/Vermont-tax-proposals-300x200.jpeg)
Vermont Tax Proposals Would Leave the State and Vermonters Behind
With proposals to adopt the nation’s highest corporate income tax, second-highest individual income tax, and most aggressive treatment of foreign earnings, as well as to implement an unusually high tax on property transfers, Vermont lawmakers have no shortage of options for raising taxes dramatically.
7 min read![Portugal personal income tax system details and analysis](https://taxfoundation.org/wp-content/uploads/2024/03/Portugal-tax-reform-300x200.jpeg)
Portugal’s Personal Income Tax System: High Top Rate, Threshold, and Tax Credits
Portugal’s personal income tax system levies high tax rates on an unusually narrow set of high earners, striking a poor balance between earnings incentives and revenue contributions.
4 min read![](https://taxfoundation.org/wp-content/uploads/2024/04/FF_generic-small-01-300x141.png)
Facts & Figures 2024: How Does Your State Compare?
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.
2 min read![Is the Federal Tax Code Progressive and does it Privilege the Rich? US progressive income tax system rich and wealthy fair share tax](https://taxfoundation.org/wp-content/uploads/2024/04/Does-the-Federal-Tax-Code-Privilege-the-Rich-300x185.jpeg)
Does the Federal Tax Code Privilege the Rich?
The federal income tax drives the tax code’s progressivity. In 2021, taxpayers with higher incomes paid much higher average income tax rates than taxpayers with lower incomes.
4 min read![2024 state capital gains tax rates on long term capital gains](https://taxfoundation.org/wp-content/uploads/2024/04/2024-state-capital-gains-tax-rates-on-long-term-capital-gains-FV-300x250.png)
State Tax Rates on Long-Term Capital Gains, 2024
Savings and investment are critical activities, both for individuals’ and families’ financial security and for the health of the national economy as a whole. As such, policymakers should consider how they can help mitigate—rather than add to—tax codes’ biases against saving and investment.
5 min read![latest state tax trends and state tax cuts revenue implications include responsible state income tax relief in 2024](https://taxfoundation.org/wp-content/uploads/2023/02/latest-state-tax-trends-and-state-tax-cuts-include-responsible-state-income-tax-relief-in-2023-300x225.jpg)
Can States Afford Their Recent Tax Cuts?
With state tax revenues receding from all-time highs, there’s been a great deal of handwringing about whether states can afford the tax cuts adopted over the past few years. Given that 27 states reduced the rate of a major tax between 2021 and 2023, is there reason for concern?
4 min read![Considering 2025 tax reform options for 2025, 2026, and beyond for the 2025 tax debate](https://taxfoundation.org/wp-content/uploads/2024/03/US-capitol-spring-summer-300x200.jpeg)
Considering Tax Reform Options for 2025 (and Beyond)
Given that U.S. debt is roughly the size of our annual economic output, policymakers will face many tough fiscal choices in the coming years. The good news is there are policies that both support a larger economy and avoid adding to the debt.
6 min read![US tax revenue by tax type as of 2024 update](https://taxfoundation.org/wp-content/uploads/2024/03/US_Revenue_24_1-1-300x240.png)
Sources of U.S. Tax Revenue by Tax Type, 2024 Update
Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.
3 min read![Biden Budget Blueprint](https://taxfoundation.org/wp-content/uploads/2024/03/Alt-Social-9-300x300.png)
Biden’s Budget Blueprint
In the context of the 2024 election year, what does President Biden’s 2025 budget proposal signify regarding his strategies and priorities as he seeks reelection? And how could these proposals shape the overall landscape of this election cycle?
![OECD tax revenue by tax type 2024 tax revenue by country](https://taxfoundation.org/wp-content/uploads/2024/03/OECD-tax-revenue-by-tax-type-2024-tax-revenue-by-country-300x172.jpeg)
Sources of Government Revenue in the OECD, 2024 Update
Designing tax policy in a way that sustainably finances government activities while minimizing distortions is important for supporting a productive economy.
3 min read![Nebraska EPIC Option Consumption Tax Proposal Details and Analysis](https://taxfoundation.org/wp-content/uploads/2024/03/Nebraska-capitol-300x200.jpeg)
The Shortcomings of Nebraska’s EPIC Option
31 min read![Summary of the Latest Federal Income Tax Data, 2024 Update](https://taxfoundation.org/wp-content/uploads/2024/03/Summary-of-the-Latest-Federal-Income-Tax-Data-2024-Update-300x200.jpeg)
Summary of the Latest Federal Income Tax Data, 2024 Update
The 2021 tax year was the fourth since the Tax Cuts and Jobs Act (TCJA) made many significant, but temporary, changes to the individual income tax code to lower tax rates, widen brackets, increase the standard deduction and child tax credit, and more.
9 min read![Taxes and Migration New Evidence from Academic Research](https://taxfoundation.org/wp-content/uploads/2024/03/Taxes-and-Migration-New-Evidence-from-Academic-Research-300x205.jpeg)
Taxes and Migration: New Evidence from Academic Research
Do taxes affect individuals’ decisions regarding where to live and work? Can high taxes cause the outmigration of wealthy individuals?
5 min read![Tax Calculator: How the TCJA Expiration Will Affect You](https://taxfoundation.org/wp-content/uploads/2024/03/TaxCalc_meta_image_final-01-300x157.png)
Tax Calculator: How the TCJA’s Expiration Will Affect You
Unless Congress acts, Americans are in for a tax hike in 2026.
3 min read![Illinois Governor Pritzker Budget Tax Proposals (FY 2025)](https://taxfoundation.org/wp-content/uploads/2024/03/Illinois-capitol-3-300x200.jpeg)
Evaluating the Proposed Tax Changes in Illinois Governor’s FY 2025 Budget
In his FY 2025 budget, Illinois Gov. Pritzker outlined a number of proposed tax changes, including to individual and corporate income taxes, state sales taxes, and sports betting excise taxes.
7 min read