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
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Trump Tariffs: Tracking the Economic Impact of the Trump Trade War
President Trump’s 25 percent tariffs on Canada and Mexico is estimated to reduce long-run GDP by 0.2 percent, reduce hours worked by 223,000 full-time equivalent jobs, and reduce after-tax incomes by an average of 0.6 percent—before accounting for foreign retaliation.
27 min read
Budget Reconciliation: Tracking the 2025 Trump Tax Cuts
President Trump has called for permanent extension of the 2017 tax cuts, additional policies including no taxes on tips, overtime pay, and Social Security benefits for retirees, and has also promised higher taxes on US imports through a series of new tariffs.
7 min read
The Role of LIFO in the Tax Code
While LIFO is rarely the main focus of the overall tax policy debate, it is a sound structural piece of the tax code. LIFO comes close to matching the economic ideal while still remaining true to the accounting principle.
15 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
State Individual Income Taxes on Nonresidents: A Primer
As a rule, an individual’s income can be taxed both by the state in which the taxpayer resides and by the state in which the taxpayer’s income is earned.
52 min read
Nebraska Property Tax Relief After LB 34
Nebraska has an opportunity to revise the property tax package enacted in 2024 to ensure that Nebraskans enjoy meaningful property tax relief.
32 min read
The Unsustainable US Debt Course and Impacts of Potential Tax Changes
Given the poor state of the budget process and worsening debt trajectory, lawmakers should move boldly and quickly to address the issue, including via a fiscal commission process. Issues to consider should include reforms to both spending and taxes.
42 min read
State Tax Changes Taking Effect January 1, 2025
Thirty-nine states will begin 2025 with notable tax changes, including nine states cutting individual income taxes. Recent years have seen a wave of significant tax reforms, and the changes scheduled for 2025 show that these efforts have not let up.
25 min read
Cigarette Taxes and Cigarette Smuggling by State, 2022
Growing cigarette tax levels and differentials have made cigarette smuggling both a national problem and a lucrative criminal enterprise.
16 min read
Confronting the New Property Tax Revolt
Policymakers can and should address taxpayers’ legitimate grievances about out-of-control property tax bills, but they should do so without upending a system of taxation that is more efficient, fair, and pro-growth, and better suited to municipal finance, than any of the alternatives.
39 min read
International Tax Competitiveness Index 2024
While there are many factors that affect a country’s economic performance, taxes play an important role. A well-structured tax code is easy for taxpayers to comply with and can promote economic development while raising sufficient revenue for a government’s priorities.
92 min read
Can US Tax Reforms Keep Up with China?
How does tax policy shape a nation’s competitiveness? Today, we’re diving into the showdown between the US and China, exploring how China’s enticing tax incentives pose a formidable challenge to America’s economic supremacy.
Leveraging Tax Policy to Bolster US Economic Growth Amid Competition with China
Restoring expensing for R&D, machinery, and equipment; extending better cost recovery to structures investment; and avoiding raising the corporate tax rate would create a stronger, pro-investment policy environment for the US economy.
44 min read
2024 Spanish Regional Tax Competitiveness Index
The 2024 Spanish Regional Tax Competitiveness Index allows policymakers and taxpayers to evaluate and measure how their regions’ tax systems compare.
7 min read
Extended Producer Responsibility
Growing levels of waste and pollution, paired with increasing burdens on taxpayers to address environmental problems, have spurned policymakers in the US and abroad to encourage producers to be responsible, either financially or operationally, for the end-life of their products.
34 min read
Excise Taxes and Fees on Wireless Services Increased 8.8 Percent in 2024
Wireless taxes and fees set a new record high in 2024.
23 min read
Supernormal Returns: An Overlooked Foundation of Tax Policy Debates
Supernormal profits are an important concept, but we should be wary of analysis that both defines supernormal profits very broadly and equates all supernormal profits with monopoly profits that can be easily taxed without negative economic effects.
23 min read
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.
72 min read
Expanding User Fees for Transportation: Roads and Beyond
By 2034, the gas tax and other car-related excise taxes are projected to raise less than half of the Highway Trust Fund’s outlays. While broader tax and spending reforms are necessary for overall deficit reduction, improving transportation funding would be a crucial step forward.
34 min read