The impact of tax reform on housing prices has traditionally been studied by examining the user cost of capital the after-tax cost to the homeowner per unit of housing. This brief summarizes findings from a new discrete period approach which considers the time element of housing investment and...
The inaugural edition of the state economic monitor reviews the health of various aspects of state economies, including employment, housing, state finances, and economic growth. This monitor documents key economic conditions through June 2013 in all 50 states, and also serves as a valuable...
Federal taxpayers choose between itemizing deductions and claiming the standard deduction. Itemizers can claim deductions for state and local income and property taxes paid. (Through 2013, taxpayers may deduct state and local sales taxes paid in lieu of income taxes.) In 2011, 46.6 million...
This study analyzes the effect of tax reforms on housing prices in selected cities. Using a model that incorporates transaction costs, the study finds (1) the presidents proposed limit on itemized deductions would have a minimal impact on housing prices; (2) eliminating itemized deductions...
In a contribution to the New York Times' Room for Debate, Kim Rueben argues if the tax rate for marijuana is too high, people will continue to buy weed from the guy on the street. However, setting the tax rate too low leaves revenue on the table and use might boom.
Examining state and local finances in recent economic recoveries, we find that state and local government activity exhibited an unprecedented decline during the most recent recovery. Never before had state and local contribution to GDP been negative three years after a recession passed its low...
The 2001 tax cuts temporarily phased out a credit for state estate and inheritance taxes and replaced it in 2005 with a deduction. Responding to the repeal, some states simply repealed their estate taxes. Others decoupled from the federal law, either establishing a stand-alone tax or explicitly...
Kids' Share 2012: Report on Federal Expenditures on Children through 2011, a sixth annual report, looks comprehensively at trends over the past 50 years in federal spending and tax expenditures on children. Key findings suggest that the size and composition of expenditures on children...
Kids' Share 2012: Report on Federal Expenditures on Children through 2011, a sixth annual report, looks comprehensively at trends in federal spending and tax expenditures on children. This appendix details our data sources, the programs we include, and the methodology used to estimate...
Recent budget pressures have led many states to cut future pension benefits for state workers. Using New Jersey as a case study, this report describes how these reforms ignore larger employee recruitment and retention issues for today's more mobile workforce. State retirement plans generally do...
New Estimates of Tax Reform's Effect on Housing Prices
The impact of tax reform on housing prices has traditionally been studied by examining the user cost of capital the after-tax cost to the homeowner per unit of housing. This brief summarizes findings from a new discrete period approach which considers the time element of housing investment and...
State Economic Monitor
The inaugural edition of the state economic monitor reviews the health of various aspects of state economies, including employment, housing, state finances, and economic growth. This monitor documents key economic conditions through June 2013 in all 50 states, and also serves as a valuable...
State and Local Tax Deductions
Federal taxpayers choose between itemizing deductions and claiming the standard deduction. Itemizers can claim deductions for state and local income and property taxes paid. (Through 2013, taxpayers may deduct state and local sales taxes paid in lieu of income taxes.) In 2011, 46.6 million...
Tax Reform, Transaction Costs, and Metropolitan Housing in the United States
This study analyzes the effect of tax reforms on housing prices in selected cities. Using a model that incorporates transaction costs, the study finds (1) the presidents proposed limit on itemized deductions would have a minimal impact on housing prices; (2) eliminating itemized deductions...
Finding Just the Right Tax Rate
In a contribution to the New York Times' Room for Debate, Kim Rueben argues if the tax rate for marijuana is too high, people will continue to buy weed from the guy on the street. However, setting the tax rate too low leaves revenue on the table and use might boom.
State and Local Governments in Economic Recoveries: This Recovery is Different
Examining state and local finances in recent economic recoveries, we find that state and local government activity exhibited an unprecedented decline during the most recent recovery. Never before had state and local contribution to GDP been negative three years after a recession passed its low...
Back from the Dead: State Estate Taxes After the Fiscal Cliff
The 2001 tax cuts temporarily phased out a credit for state estate and inheritance taxes and replaced it in 2005 with a deduction. Responding to the repeal, some states simply repealed their estate taxes. Others decoupled from the federal law, either establishing a stand-alone tax or explicitly...
Kids' Share 2012
Kids' Share 2012: Report on Federal Expenditures on Children through 2011, a sixth annual report, looks comprehensively at trends over the past 50 years in federal spending and tax expenditures on children. Key findings suggest that the size and composition of expenditures on children...
Data Appendix to Kids' Share 2012
Kids' Share 2012: Report on Federal Expenditures on Children through 2011, a sixth annual report, looks comprehensively at trends in federal spending and tax expenditures on children. This appendix details our data sources, the programs we include, and the methodology used to estimate...
Are Pension Reforms Helping States Attract and Retain the Best Workers?
Recent budget pressures have led many states to cut future pension benefits for state workers. Using New Jersey as a case study, this report describes how these reforms ignore larger employee recruitment and retention issues for today's more mobile workforce. State retirement plans generally do...