The ongoing COP-27 climate conference will take stock of global greenhouse gas (GHG) emissions and encourage member countries to accelerate their efforts to reach climate...

As the year winds down, Congress will need to decide what to do on several tax fronts, including whether to extend more favorable treatment of...

Last week’s surprise budget deal, which includes about $370 billion in measures to combat global climate change, was sealed with improved terms for US oil...

According to recent news reports, Congressional Democrats are considering watered-down versions of two measures from last year’s Build Back Better Act . The alternative minimum...

Ballooning oil company profits have produced a volley of “windfall profit tax” proposals. How well would their different provisions meet the near-term US policy goals...

Corporate tax reforms introduced by the 2017 Tax Cuts and Jobs Act (TCJA) encouraged foreign-owned US companies to reinvest more of their earnings here, according...

The recent runup in oil prices and general inflation have boosted tax benefits from the “last-in, first-out” (LIFO) inventory accounting tax break. LIFO tax expenditures,...

President Biden’s 2023 budget would replace the current 10 percent base erosion anti-avoidance tax (BEAT) on US subsidiaries of foreign corporations with a 15 percent...

The recent oil price spike has triggered many calls for a temporary windfall profit tax (WPT) on the oil industry, which the US last imposed...

Democratic leaders have pledged to combat higher petroleum prices due to Russia’s invasion of the Ukraine. Shying away from a Russian oil boycott , they...

The Build Back Better (BBB) bill’s winter holiday gives Congress more time to evaluate the plan’s components, including a 15 percent minimum tax on the...

The Build Back Better proposal for a 1 percent excise tax on corporate share buybacks would reduce their tax advantage relative to dividend distributions. Equivalent...

The House budget reconciliation deal rejected a corporate income tax rate increase in favor of a 15 percent minimum tax on book income . Though...

Recent proposals to reform the tax treatment of US multinationals would increase US revenues substantially, according to an analysis by the Tax Policy Center. The...

US taxation of intellectual property (IP) is facing big changes. Starting next year, research and development (R&D) expenditures, now fully expensed (written off in the...

As another season of record-breaking heat, wildfires, and hurricanes unfolds, Congress is debating how to address climate change and fund green infrastructure in its $3.5...

A group of Senate Democrats has introduced a bill to impose tariffs on imports of carbon-intensive goods and fossil fuels equal to the domestic environmental...

Once the US economy recovers from the COVID-19 crisis, the federal government will need significant additional revenues to reduce its ballooning deficit. Congress and President...

The Biden Administration is taking steps to develop a new, global minimum tax on multinational corporations. The initiative, led by Treasury Secretary Janet Yellen, follows...

President-elect Joe Biden has proposed major changes to the corporate income tax regime.

The tax community this week is mourning the loss of University of Southern California law professor Edward D. Kleinbard. Ed previously served as Chief of...

Over the next decade, the individual “ recovery rebate ” program will account for about half of the Coronavirus Aid, Relief and Economic Security (CARES)...

Most presidential candidates acknowledge the urgency of climate change. Few would use tax policy to its full potential.