Rather than permanently expanding a complicated, nonneutral tax break, Congress should prioritize permanence for the most neutral and pro-growth policies like bonus depreciation and R&D expensing.
6 min read
Our preliminary analysis finds the tax provisions increase long-run GDP by 0.8 percent and reduce federal tax revenue by $4.0 trillion from 2025 through 2034 on a conventional basis before added interest costs.
9 min read
The House-passed “One Big Beautiful Bill” includes a new 3.5 percent tax on remittances, or non-commercial transfers of money that people in the US send to people abroad.
7 min read
The House’s “Big Beautiful Bill” increased senior deduction would deliver a larger tax cut to lower-middle- and middle-income households compared to exempting all Social Security benefits from taxation, and would not weaken the trust funds. But given the temporary nature of the policy, it would increase the deficit-impact of the reconciliation bill without boosting long-run economic growth.
3 min read
From generous tax breaks to costly trade-offs, the House GOP’s One, Big, Beautiful Bill has a little of everything. It’s a sweeping attempt to extend key provisions of the 2017 Tax Cuts and Jobs Act before they expire in 2026—but what’s actually in it?
It’s been a whirlwind 24 hours in tariff news: first, a trade court blocked Trump’s sweeping new tariffs, calling them executive overreach. Then, a federal appeals court reinstated them—at least for now. We break down what happened, what’s next, and why it matters.
Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.
4 min read
Our experts are providing the latest details and analysis of proposed federal tax policy changes.
11 min read
Republicans have advanced legislation to extend many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) alongside dozens of new provisions. Any comprehensive tax legislation is going to have its wrinkles, and the “One, Big, Beautiful Bill” is no different.
8 min read
Developed countries raise tax revenue through individual income taxes, corporate income taxes, social insurance taxes, taxes on goods and services, and property taxes—the combination of which determines how distortionary or neutral a tax system is.
4 min read
The House of Representatives just passed President Trump’s “One Big Beautiful Bill,” marking a critical step in the Republican tax agenda. At first glance, the bill might appear to complete the legacy of the 2017 Tax Cuts and Jobs Act (TCJA). But it falls short of emulating the TCJA’s core strengths in two key respects: it doesn’t prioritize economic growth, and it doesn’t simplify the tax code.
As the US House hashes out its “One, Big, Beautiful Bill,” statehouse lawmakers are watching closely, given the impact of both its tax and spending provisions on state budgets.
12 min read
Sean Bray interviewed Professor of Business Accounting and Taxation at the University of Kiel, Jost Heckemeyer, about the future of the EU tax mix. The interview shows that there is a trade-off between stability and flexibility in European tax policymaking. It also shows that there ought to be a balance between fairness and competitiveness when thinking about improving tax policy.
16 min read
Letting the SALT cap slip further upwards would undercut the TCJA’s long-term legacy, worsening the fiscal outlook of the tax package and providing an unneeded benefit to higher earners.
4 min read
While Congress works on the “One, Big, Beautiful Bill” to cut taxes, President Trump has imposed significantly higher taxes by placing tariffs on more than 70 percent of US imports.
2 min read
We break down the House GOP’s One, Big, Beautiful Bill—a sweeping tax package designed to extend key parts of the 2017 Tax Cuts and Jobs Act before they expire in 2026.
With such important changes to Montana’s property tax system at stake, it’s important that lawmakers get the details right.
5 min read
Lawmakers have a prime opportunity to achieve a more stable economy through the debate about the tax code that is now ramping up.
As lawmakers continue to debate the “One Big Beautiful Bill,” they should abandon temporary and complex policy in favor of simplicity and stability.
4 min read
The tax bill prioritizes politics over economic growth, writes Daniel Bunn.