Why Are the Individual Tax Cuts Expiring?
The TCJA improved the U.S. tax code, but the meandering voyage of its passing and the compromises made to get it into law show the challenges of the legislative process.
6 min read
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State Income Taxes and the 2024 NFL Draft Class
Here’s how much NFL players can expect to pay in state and local income taxes—to all relevant states—at multiple salary levels, by team.
7 min read
How Burdensome Are Your State’s Nonresident Income Tax Filing Laws?
One relatively easy but meaningful step policymakers can take to make future tax seasons less burdensome is to modernize their state’s nonresident income tax filing, withholding, and reciprocity laws.
7 min read
When Looking to Reform Inflation Reduction Act, Start with EV Credits
Over the next 10 years, the IRA’s energy tax credits are projected to cost north of $1 trillion, adding to the federal government’s budgetary challenges and burgeoning debt.
6 min read
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.
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
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
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
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
Details and Analysis of President Biden’s Fiscal Year 2025 Budget Proposal
President Biden is proposing extraordinarily large tax hikes on businesses and the top 1 percent of earners that would put the U.S. in a distinctly uncompetitive international position and threaten the health of the U.S. economy.
19 min read
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
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
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
New CBO Report Shows Pandemic Response Sharply Reduced Inequality, Increased Progressivity in 2020
The pandemic led to one of the largest fiscal responses in U.S. history, impacting households across the income distribution.
4 min read
Blog
Short FormHow Are Remote and Hybrid Workers Taxed?
Working from home is great. The tax complications? Not so much.
4 min read
Top Personal Income Tax Rates in Europe, 2024
Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) have the highest top statutory personal income tax rates among European OECD countries.
3 min read
Latest SALT Deduction Cap Proposal Increases Budget Deficit, Creates New Tax Cliffs, and is Regressive
From a revenue standpoint, about $9 billion of the $11.7 billion in lost revenue would accrue to joint filers earning more than $200,000.
5 min read
Five Facts to Know about the Bipartisan Tax Deal
The U.S. House of Representatives has passed a highly anticipated bipartisan tax deal. The Tax Relief for American Workers and Families Act now awaits action in the Senate.
6 min read
Tax Foundation Discussion on the Harms of Retaliatory Tax and Trade Policies
Historical evidence and recent studies have shown that retaliatory tax and trade proposals raise prices and reduce the quantity of goods and services available to U.S. businesses and consumers, resulting in lower incomes, reduced employment, and lower economic output.
5 min read