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
Research report

This paper examines how the Tax Cuts and Jobs Act (TCJA) will affect the US energy sector. It combines qualitative analysis of a range of TCJA provisions with estimates from the Tax Policy Center’s Investment and Capital Model of how a narrower set of provisions will change marginal effective...

May 24, 2022
Brandon CunninghamChenxi LuEric ToderRoberton C. Williams III
Research report

Total state tax revenue collections increased 24.1 percent in nominal terms and 17.2 percent in real terms in the fourth quarter of 2021 relative to a year earlier.

Although state revenue collections have grown rapidly in the most recent months and reported revenue growth is widespread...

May 17, 2022
Lucy Dadayan
Research report

The 2017 Tax Cuts and Jobs Act (TCJA) sharply reduced effective corporate income tax rates on equity-financed US investment. This paper examines the reform’s impact on US inbound foreign direct investment (FDI) and investment in property, plant and equipment (PPE) by foreign-owned US companies....

May 12, 2022
Thornton MathesonAlexander KlemmLaura PowerThomas Brosy
Research report

Standard analysis of the corporate income tax assumes shareholders bear the burden of taxes on excess returns. But evidence shows that firms share rents with workers, especially high-income workers, which implies that these workers bear some of the burden as well. Using the Tax Policy Center...

May 10, 2022
William G. GaleSamuel Thorpe
Research report

The 2021 temporary expansion of the child tax credit (CTC) was unprecedented in its reach, lifting 3.7 million children out of poverty as of December 2021. It provided families with up to $3,600 for every child in the household under the age of six, and up to $3,000 for every child between the...

April 19, 2022
Leah HamiltonStephen RollMathieu DespardElaine MaagYung ChunLaura BruggerMichal Grinstein-Weiss
Research report

The Tax Cuts and Jobs Act of 2017 (TCJA) dramatically changed tax law. It narrowed the subsidy on mortgage interest in several ways, which should lower mortgages and home prices; it also increased most taxpayers’ after-tax incomes, which should have the opposite effect. Thus, the TCJA’s overall...

March 30, 2022
Robert McClellandLivia MuccioloSafia Sayed