Budget Reconciliation: Tracking the 2025 Trump Tax Cuts
Our experts are providing the latest details and analysis of proposed federal tax policy changes.
10 min read
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“Big Beautiful Bill” House GOP Tax Plan: Preliminary Details and Analysis
Our preliminary analysis finds the tax provisions included in the May 12 text would increase long-run GDP by 0.6 percent and reduce federal tax revenue by $4.0 trillion from 2025 through 2034 on a conventional basis before added interest costs.
7 min read
State and Local Tax Collections Per Capita by State, 2025
According to the latest economic data from the US Census Bureau, the average per capita state and local tax burden is $7,109. However, collections vary widely by state, reflecting differences in tax rates and bases, natural resource endowments, the scale and scope of taxable economic activity in each state, and residents’ political preferences.
5 min read
Disallowing Business SALT Raises Significant Revenue for Reconciliation but Slows Economic Growth
Pairing permanent TCJA individual tax cuts with new limits on business SALT deductions would shrink the economy, reduce American incomes, and increase the federal budget deficit, undermining the policy goals of TCJA permanence.
3 min read
What Happens If Social Security Runs Out in 2035?
What happens when the country’s most important retirement program runs out of money? Social Security faces a funding crisis by 2035. We unpack how the system works, why it’s in trouble, and what fixes could keep it afloat.
How Will Trump’s Current Tariffs Compare with Extending His 2017 Individual Tax Cuts?
The tariff policies already in effect threaten to offset the benefits of the promised tax cuts.
2 min read
Nonresident Income Tax Filing Laws by State, 2025
One area of the tax code in which extreme complexity and low compliance go hand-in-hand—and where reform is desperately needed—is in states’ nonresident individual income tax filing and withholding laws.
7 min read
Missouri’s New Tax Cut Bill Sets the Stage for a Flat Tax Future
The flat tax trend is gaining momentum nationwide, and Missouri lawmakers are right to identify income tax rate reductions as particularly pro-growth.
4 min read
No Tax on Tips and Overtime Proposals Gain Steam Across States, but Remain a Bad Idea
The trend of tax exemptions on tips, overtime, and bonuses may sound like a win for workers, but it is a shortsighted fix with long-term drawbacks.
11 min read
North Dakota’s Property Tax Reform Proposals: A Three-Part Approach
North Dakota’s financial position provides it with a rare capacity to deliver meaningful property tax relief. However, policymakers must balance immediate relief with fiscal sustainability and ensure that local governments remain adequately funded in the years ahead.
5 min read
Taxing Life Insurance
As Congress attempts to prevent the expiration of major Tax Cuts and Jobs Act provisions, it needs to find ways to pay for them. Ideally, it should use the least economically harmful means possible.
3 min read
The Truth About Tariffs—Fact-Checking Trump’s Trade Claims
Do tariffs really level the playing field, or are they just bad economics? In this emergency episode, we fact-check the Trump administration’s claims that retaliatory tariffs make trade fairer.
The Global Tax Deal, Tax Cuts, and Tariffs—5 Major Tax Debates
What are the biggest tax stories shaping policy today—and what do they mean for you? In our 100th episode, we break down the five biggest tax stories, from the global tax deal to the looming expiration of the Tax Cuts and Jobs Act.
Facts & Figures 2025: 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
North Carolina Tries Mimicking Trump’s Tips and Overtime Proposal, But Should Be Cautious
A North Carolina House bill titled “No Tax on Tips, Overtime, Bonus Pay,” is gaining bipartisan traction in the General Assembly, mirroring similar proposals nationwide, including those championed by President Trump.
4 min read
Picking the Right Budgetary Offsets Key to Tax Reform Success
In a perilous economic and fiscal environment, with instability created by Trump’s trade war and publicly held debt on track to surpass the highest levels ever recorded within five years, a lot rides on how Republicans navigate tax and spending reforms in reconciliation.
6 min read
Pro-Growth Tax Reform for Oklahoma, 2025
Lawmakers should finish the work they have begun over the past few decades, tackling tax rates and structures to give the state a leg up in an era of enhanced competition.
84 min read
Congressional Policymakers Should Tread Carefully When Weighing New Corporate SALT Deduction Limits
While capping C-SALT has superficial appeal in perceived parity with personal limits, it rests on flawed assumptions about the nature of individual and corporate income taxes.
7 min read
Making the Tax Cuts and Jobs Act Permanent: Economic, Revenue, and Distributional Effects
Permanently extending the Tax Cuts and Jobs Act would boost long-run economic output by 1.1 percent, the capital stock by 0.7 percent, wages by 0.5 percent, and hours worked by 847,000 full-time equivalent jobs.
6 min read
2024 European Tax Policy Scorecard
The variety of approaches to taxation among European countries creates a need to evaluate these systems relative to each other. For that purpose, we have developed the European Tax Policy Scorecard—a relative comparison of European countries’ tax systems.
55 min read