2024 Election Insights | Whose Plan Wins? Trump vs. Harris on Taxes
What do the contrasting tax proposals of Vice President Kamala Harris and former President Donald Trump mean for Americans as the 2024 election approaches?
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Bob Stack Unpacks US Challenges in Global Tax
Bob Stack, an international tax expert, explores the implications of the EU’s adoption of Pillar Two and the potential for streamlining overlapping policies. He also addresses the issues that the US faces in global tax policy with the upcoming elections.
Statutory vs. Effective Tax Rates: Why Do Higher Taxes Not Necessarily Lead to Increased Revenues?
The gap between statutory rates and average effective tax rates for personal income tax in the European Union varies significantly, affecting the efficiency and simplicity of the tax system.
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Trump’s “No Tax on Overtime Pay” Proposal Would Distort Work Decisions
Exempting overtime would unnecessarily complicate the tax code, increase compliance and administrative costs, and reduce neutrality by favoring certain work arrangements over others.
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Testimony: Lessons for the 2025 Tax Policy Debate
The stakes for next year’s expiring tax provisions are quite high. If Congress does nothing, then 62 percent of households will see their taxes go up in January of 2026.
State Tax Ballot Measures to Watch in 2024
Taxes are on the ballot this November—not just in the sense that candidates at all levels are offering their visions for tax policy, but also in the literal sense that voters in some states will get to decide important questions about how their states raise revenue.
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2024 Election Insights | Trump on Taxes, Tariffs, & Harris’s Economic Plans
While tax policy was almost nonexistent in the first debate between Vice President Kamala Harris and former President Donald Trump, this episode will explore each candidate’s latest proposals in greater depth.
Modernizing State Sales Taxes: A Policymaker’s Guide
The sales tax is the second-largest source of state tax revenue and an important source of local tax revenue, but decades of base erosion threaten the tax’s share of overall revenue and have prompted years of countervailing rate increases.
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Analysis of Harris’s Billionaire Minimum Tax on Unrealized Capital Gains
In her campaign for president, VP Kamala Harris has embraced all the tax increases President Biden proposed in the White House FY 2025 budget—including a new idea that would require taxpayers with net wealth above $100 million to pay a minimum tax on their unrealized capital gains from assets such as stocks, bonds, or privately held companies.
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Results of a Survey Measuring Business Tax Compliance Costs
Lawmakers should consider compliance costs—not just tax liabilities—when evaluating reforms to business income taxation.
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Taxes and Interstate Migration: 2024 Update
The latest IRS and Census data show that people and businesses favor states with low and structurally sound tax systems, which can impact the state’s economic growth and governmental coffers.
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2024 Election Insights | Taxes, Kamala Harris, and the DNC’s Vision
Dive into the highlights from the DNC as we break down Vice President Kamala Harris’s tax proposals and their potential impact on everyday families. What do higher taxes on businesses and the wealthy mean for working Americans?
New York Budget Gap Narrows, but No Long-Term Solution in Sight
The recently released FY 2025 budget for New York State signals a degree of optimism, with caveats. New York cannot tax itself toward a balanced budget.
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Do Americans Abroad Still Pay US Taxes?
How does living abroad impact the taxes an American has to pay? Unlike most countries that tax based on residency, the US employs citizenship-based taxation, meaning Americans are taxed on their global income regardless of where they reside.
American Retirement and Tax-Preferred Savings Accounts, Tax Year 2018
To encourage greater saving, the US federal income tax provides tax-neutral treatment to some types of saving through a variety of accounts. The type of tax treatment, contribution limits, withdrawal rules, and use cases for contributions all vary by account, leading to a complicated system for households to navigate.
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How Did the Tax Cuts and Jobs Act Simplify the Tax Code?
Not every change in the Tax Cuts and Jobs Act simplified the tax code. However, the TCJA reduced compliance costs overall for individual filers, and allowing fundamental structural improvements to expire would make the tax code worse.
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Tax Complexity Now Costs the US Economy Over $546 Billion Annually
Americans will spend more than 7.9 billion hours complying with IRS tax filing and reporting requirements in 2024. This is equal to 3.8 million full-time workers doing nothing but tax return paperwork—roughly equal to the population of Los Angeles.
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Blog
Short FormHow Are Olympians and Attendees Taxed?
The 2024 Summer Olympics are underway, drawing the attention of billions and continuing a tradition dating back thousands of years. But you know what else originated thousands of years ago and affects even more people? Taxes.
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Good Policy Leads to More Tax Cuts for West Virginia
Next year, West Virginians will see an income tax cut thanks to revenue triggers in a 2023 law. The Mountain State joins 14 other states that have cut income taxes this year.
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Where Does Kamala Harris Stand on Taxes?
While both President Biden and Vice President Harris aim their proposed tax hikes on businesses and high earners, key differences between their tax ideas in the past reveal where Harris may take her tax policy platform in the 2024 campaign.
6 min read