Another 1.4 million Americans filed initial regular unemployment benefit claims, the eleventh week of a decline in the rate of new claims, but still among the highest levels in U.S. history. The total number of new and continued claims now stands at 19.3 million, a marked decline from the peak of 24.9 million a month ago.
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The CARES Act, now signed into law, is intended to be a third round of federal government support in the wake of the coronavirus public health crisis and associated economic fallout, following the $8.3 billion in public health support passed two weeks ago and the Families First Coronavirus Response Act.
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Spain’s policy response needs to be broad and in keeping with long-term objectives. It is paramount that the short-term harm caused by this outbreak does not turn into a long-term economic downturn.
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Policymakers must weigh the trade-offs of subsidizing unemployment with mitigating community spread of coronavirus.
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Unemployment claims are going to tax state unemployment compensation trust funds beyond their limits. We need to start thinking about what to do about it.
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Governmental responses to the coronavirus outbreak will require creativity and flexibility—and one aspect of that may involve temporarily rethinking how we structure not only unemployment insurance (UI) benefits but also the taxes that pay for them.
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Instead of simply reaching for fiscal stimulus with the goal of increasing economic activity, tax policy changes can give vulnerable individuals and businesses additional liquidity and space to survive the reduction in economic activity needed in light of the coronavirus outbreak.
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Connecticut, California, New York, and New Jersey rank lowest in our 2020 State Business Tax Climate Index, which compares states on more than 120 tax policy variables to show how well they structure their tax systems and to provide a road map for improvement.
20 min read
Our 2019 State Business Tax Climate Index compares each state on over 100 variables including corporate, individual, property, and sales taxes. How does your state rank?
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For 15 years, our State Business Tax Climate Index has been the standard for legislators and taxpayers to understand how their state’s tax code compares and how it can be improved. Now, for the first time ever, you can explore our Index’s 100+ variables in an easy to use, interactive format.
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