This year, Congress will consider what may be the biggest tax bill in decades. This is one of a series of briefs the Tax Policy Center has prepared to help people follow the debate. Each focuses on a key tax policy issue that Congress and the Trump administration may address. This brief walks...
This paper updates an analysis of Hillary Clinton’s tax proposals, which would raise taxes on high-income taxpayers, increase the child tax credit, modify taxation of multinational corporations, reform capital gains taxes, and increase estate and gift taxes. Her proposals would increase revenue...
Tax policy is one of the most challenging and controversial components of state governance. Determining how and from whom to collect revenue involves questions of equity, fairness, efficiency, and simplicity. As a result, states often create special tax commissions before attempting major tax...
Nearly all state tax commissions—independent groups that study and make recommendations for improving a state’s tax system—are tasked with improving economic development within the state. Their report introductions include phrases such as “growth-friendly,” “unleash innovation,” and “optimum...
States vary in how much governments collect in revenue and spend on goods and services. To understand the sources of these differences, we examined what states could raise (revenue capacity) and would spend (expenditure need) if they followed national averages, taking into account their own...
Hillary Clinton proposes raising taxes on high-income taxpayers, modifying taxation of multinational corporations, repealing fossil fuel tax incentives, and increasing estate and gift taxes. Her proposals would increase revenue by $1.1 trillion over the next decade. Nearly all of the tax...
The State & Local Finance Initiative’s State Economic Monitor tracks economic-performance data across the states and the District of Columbia, highlighting differences in key indicators including employment, wages, housing, and taxes. This quarter’s report finds the unemployment rate fell in...
The federal government and most states have per-unit gas taxes. Because they tax gallons purchased, and not a percentage of purchase price, revenues are falling across the country as Americans buy less gas. If states do not want to cut transportation projects they now have to increase tax rates...
This paper examines the incidence of the federal income tax exemption of interest on state and local bonds, applying a fixed-savings, simplified general equilibrium approach to estimate incidence effects on both the sources and uses of income. In contrast to traditional empirical work that...
The $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law last week will allocate roughly $200 billion in fiscal relief to...
States often fail at tax reform. But few efforts flop as spectacularly as Utah’s did. Utah passed sweeping tax reform legislation in December 2019. Utah...
Like most states, Colorado and Texas do not have legislative or gubernatorial elections in 2019. Still, their voters are facing tricky, and potentially far-reaching, tax...
Bloomberg recently reported that Sony sent Chicago a $1.2 million check , ending its legal challenge to the city’s so-called “Netflix tax.” That everyone called...
Three Tax Lessons from the First Year of Widespread Legal Sports Betting A year ago, the Supreme Court legalized one of America’s favorite illegal pastimes:...
Federal lawmakers ranging from Sherrod Brown to Paul Ryan have proposed expanding the earned income tax credit (EITC) for childless workers for years without enacting...
The earned income tax credit (EITC) is a highly effective policy for fighting poverty that has garnered widespread praise from both Democrats and Republicans. In...
Some low- and middle-income families in Colorado, Minnesota, New Mexico, and North Dakota are facing state income tax hikes. And the larger the family, generally...
Election Day 2018 has a bumper crop of voter initiatives on state taxes, ranging from new levies on carbon, payroll, motor fuels, marijuana, soda, and...
Seattle is currently having a contentious debate over a proposed "head tax" to fund more affordable housing and services for its large and growing homeless...
Philadelphia’s tax on drinks with a sugar-based sweetener or artificial sugar substitute is not bringing in as much revenue as originally projected. As a result,...
