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Research report
Federal Budget and Economy

Fiscal Capacity of States, Fiscal 2002

States and their local governments vary both in their needs to provide basic public services, and in their abilities to raise revenues to pay for those services. A forthcoming joint study by the Tax Policy Center and the New England Policy Center at the Federal Reserve Bank of Boston, uses the...

October 23, 2006
Sonya HooYesim Yilmaz
Research report
State and Local Issues

State-Level Estate and Inheritance Taxes

The Economic Growth and Taxpayer Relief Reconciliation Act of 2001 (EGTRRA) phased out the state death tax credit from 2002 to 2004, eliminating it completely for 2005. Prior to EGTRRA, almost all states collected a "pick-up" tax that was equivalent to the federal credit. In 2000, estate and...

August 28, 2006
Leonard E. BurmanSonya Hoo
Research report
Federal Budget and Economy

The U.S. Tax Burden Is Low Relative to Other OECD Countries

The United States raises less tax revenue as a percentage of gross domestic product (GDP) than most other countries in the Organization for Economic Co-operation and Development (OECD). In 2003, taxes in the United States, including all levels of government, amounted to 25.6 percent of GDP,...

May 8, 2006
Sonya HooEric Toder
Research report
Federal Budget and Economy

Education Spending and Changing Revenue Sources

School districts in 37 states are "independent" and able to generate their own revenues, usually by setting property tax rates. Some school districts in other states are dependent on cities, towns or counties for funding authority. In addition, school districts have increasingly been dependent...

April 10, 2006
Sonya HooSheila Murray
Research report
Federal Budget and Economy

Property Tax Credits Offered Through State Income Tax Systems

Rising house prices have led to increasing property taxes and to calls for property tax reform. However, it is important to realize that many state and local governments currently offer property tax relief programs. We examine the property tax relief programs offered through state income tax...

November 21, 2005
Sonya Hoo
Research report
Federal Budget and Economy

An International Perspective on Gasoline Taxes

While U.S. gasoline prices were indeed at a historical high after Katrina, they are both declining and much lower than gas prices in other countries.

September 26, 2005
Sonya HooRobert D. Ebel
Research report
Federal Budget and Economy

Gasoline Taxes and Rising Fuel Prices

Although retail gasoline prices have reached an all-time high, gasoline taxes are not to blame. Gasoline taxes (both federal and state) average 43 cents per gallon and have fallen in real terms. Gasoline prices and taxes do vary across regions but there is little correlation between tax rates...

July 18, 2005
Sonya HooKim S. Rueben