Research report

Lifetime Social Security and Medicare taxes are scheduled to be significantly lower than lifetime Social Security and Medicare benefits for most workers in future decades, based on the latest data. This report compares the benefits and taxes paid by beneficiaries at the age of 65 from 1960 to...

February 14, 2023
C. Eugene SteuerleKaren E. Smith
Research report

States and local governments in the US have started implementing cryptocurrency and blockchain technology initiatives and policies. Supporters of these technologies highlight the transformative potential for improving local governance, but many remain skeptical about their long-term effects on...

February 6, 2023
Luisa Godinez-PuigThomas BrosyGabriella Garriga
Research report

Medicare faces serious short-term and long-term financial pressures. This report examines the revenue and distributional effects of options to increase revenues for Medicare and discusses their relative pros and cons. We use the Tax Policy Center microsimulation model to estimate the effect of...

February 1, 2023
Gordon B. MerminBowen GarrettLillian HunterC. Eugene Steuerle
Research report

Total state tax revenue collections increased 14.5 percent in nominal terms and 6.4 percent in real terms in the second quarter of 2022 relative to a year earlier. Both personal and corporate income tax revenues saw year-over-year real growth in the second quarter of 2022, at 6.6 and 27.1...

December 13, 2022
Lucy Dadayan
Research report

Refundable tax credits can play an important role in the financial lives of low-income families. The two that provide the most support are the earned income tax credit (EITC) and the child tax credit (CTC). Refundable tax credits differ from most programs that provide income support to low-...

October 17, 2022
Elaine MaagH. Elizabeth PetersNikhita AiriKaren E. Smith
Research report

While 19 states have enacted a tax on recreational marijuana, there is no standard cannabis tax in the US the way there is an alcohol tax, cigarette tax, and gas tax.

Instead, governments use three different types of cannabis taxes: a percentage-of-price tax, a weight-based tax, and a...

September 28, 2022
Richard C. AuxierNikhita Airi
Research report

Total state tax revenue collections increased 21.7 percent in nominal terms and 13.9 percent in real terms in the first quarter of 2022 relative to a year earlier.

The double-digit growth in state tax revenues is from very volatile sources and is largely attributable to atypical revenue-...

August 23, 2022
Lucy Dadayan
Research report

Tax-exempt organizations are subsidized relative to taxable organizations because income related to furthering their core mission is excluded from income tax. The value of this subsidy is unclear. There is no government-provided estimate, and the tax benefit for any organization depends on the...

July 27, 2022
Nathan BornAdam Looney
Research report

In 2017, the Tax Policy Center published “The Synthetic Control Method as a Tool to Understand State Policy,” a guide for using the synthetic control method (SCM) as a quantitative adjunct to case studies. With it, analysts can evaluate cases in which there is a single treated unit and no...

May 31, 2022
Robert McClellandLivia Mucciolo