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...
Benefits from the earned income tax credit (EITC) and child tax credit (CTC) play an important role in the financial lives of low- and moderate-income families. Determining how much credit a family qualifies for can be complicated, depending primarily on the number of eligible children, income,...
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...
Both the US and the UK experienced dramatic slowdowns in economic activity in response to the COVID-19 pandemic. Each enacted large-scale responses targeted at workers, and in addition, the US extended direct cash aid broadly through economic impact payments (EIPs) and then to most parents with...
Thirty-five states and the District of Columbia passed significant tax cuts in calendar year 2022. However, the design and effect of those tax cuts varied significantly. Using the Tax Policy Center state income tax model, we analyzed three major types of individual income tax cuts—tax rate cuts...
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...
Around the Block
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...
Understanding Yearly Changes in Family Structure and Income and Their Impact on Tax Credits
Benefits from the earned income tax credit (EITC) and child tax credit (CTC) play an important role in the financial lives of low- and moderate-income families. Determining how much credit a family qualifies for can be complicated, depending primarily on the number of eligible children, income,...
Options for Increasing Medicare Revenues
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...
Weathering the Economic Storm of Covid-19
Both the US and the UK experienced dramatic slowdowns in economic activity in response to the COVID-19 pandemic. Each enacted large-scale responses targeted at workers, and in addition, the US extended direct cash aid broadly through economic impact payments (EIPs) and then to most parents with...
The Cost of Parking
Who Benefited from 2022's Many State Tax Cuts and What is in Store for 2023?
Thirty-five states and the District of Columbia passed significant tax cuts in calendar year 2022. However, the design and effect of those tax cuts varied significantly. Using the Tax Policy Center state income tax model, we analyzed three major types of individual income tax cuts—tax rate cuts...
Helping New Mothers Understand the Benefits of Filing Taxes
Trusted Messengers' Role in Helping New Mothers File Taxes
Business Uptake of Investment Expensing
State Tax and Economic Review, 2022 Quarter 2
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...