This paper analyzes the House GOP tax reform blueprint, which would significantly reduce marginal tax rates, increase standard deduction amounts, repeal personal exemptions and most itemized deductions, allow businesses to expense new investment, and not allow businesses to deduct net interest
For years, tax reformers have advocated reducing marginal tax rates, broadening the tax base, and eliminating provisions that provide special benefits to select forms of...
All states with an income tax link to the federal tax system to some degree. This system of federal-state conformity helps taxpayers by standardizing the...
Total state tax revenue collections increased 7.2 percent in nominal terms and 0.1 percent in real terms in the third quarter of 2022 relative to a year earlier. This is much weaker than the strong revenue growth observed in the first half of 2022. Both corporate income and general sales tax
Whenever the federal government goes completely nuts , it can be comforting to remember the United States is a highly decentralized country . Fifty states...
When tax filing season begins in a few weeks, you’ll likely hear senior Trump Administration officials and some congressional Republicans boasting yet again about how...
This analysis was updated on October 27, 2017 to incorporate dynamic scoring results. The Tax Policy Center has produced preliminary estimates of the potential impact of proposals included in the “Unified Framework for Fixing Our Broken Tax Code.” We find they would reduce federal revenue by $2.4
On April 11, I testified before the congressional Joint Economic Committee on whether the Tax Cuts and Jobs Act (TCJA) will help Unleash… America’s Economic...
Who will replace Orrin Hatch? The Finance Committee Chairman announced that he will retire at the end of the year after more than four decades in the Senate.