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Individual Tax Expenditures, Credits, and Deductions

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NC budget North Carolina tax reform proposals in the NC budget taxes 2023

North Carolina’s Budget Should Prioritize Pro-Growth Structural Reforms

As fiscal year 2023 draws to a close, North Carolina’s House and Senate have each passed their own versions of the biennial budget for fiscal years 2024-25. While legislative leaders have generally agreed to overall spending levels, negotiations remain ongoing to resolve different approaches to tax policy.

7 min read
Texas property tax relief and Texas property tax reform explore Texas property taxes

Texas Lawmakers Should Deliver Principled Property Tax Relief

Texas’s robust surpluses create an opportunity to use state funds to lower local property taxes. However, it remains important for legislators to pursue a principled approach to rate compression, rather than enacting a plan that will simply shift the tax burden in nonneutral ways.

3 min read
US Tax Burden on Labor 2023 US Income Tax Burden and US Payroll Tax Burden

The U.S. Tax Burden on Labor, 2023

Although the U.S. has a progressive tax system and a relatively low tax burden compared to the OECD average, average-wage workers still pay more than 30 percent of their wages in taxes.

4 min read
Stockholm Sweden Scandinavian tax systems to fund large social safety net and public service programs

Insights into the Tax Systems of Scandinavian Countries

Scandinavian countries are well known for their broad social safety net and their public funding of services such as universal health care, higher education, parental leave, and child and elderly care. So how do Scandinavian countries raise their tax revenues?

7 min read
IRS funding increase Inflation Reduction Act IRS strategic operating plan includes auditors

IRS Strategic Operating Plan Shows Promise, but Concerns Remain

While the IRS hopes to increase revenue collection and minimize additional burdens on taxpayers, uncertainty remains regarding its ability to deliver, particularly on the latter. Furthermore, some concerns about the original funding package are already surfacing, specifically around insufficient funding for taxpayer services.

6 min read
Expanding affordable housing tax policies

Rethinking Affordable Housing Tax Policy

Affordable housing is an issue that has had long-standing bipartisan interest in D.C. But the path to increase the supply of affordable housing, though often well-intentioned, has created a bureaucratic nightmare.

West Virginia tax relief plan includes Governor Justice tax cut and West Virginia tax reform proposals

West Virginia Lawmakers Reach Deal on Tax Relief

In a day and age when businesses and individuals alike are increasingly mobile, West Virginians can be relieved that their state is getting off the sideline and into the action.

4 min read
Top Personal Income Tax Rates in Europe 2023 Income Tax Rates or Individual Income Tax Rates

Top Personal Income Tax Rates in Europe, 2023

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.

2 min read