After years of growth, some states saw cannabis tax collections decline for the first time in fiscal year 2022. But, while politicians occasionally promote marijuana...
In 2021, Congress enacted sweeping legislation that temporarily cut child poverty nearly in half . A key feature was the expanded child tax credit (CTC),...
Thanks to surging tax revenues and an unprecedented infusion of federal aid, many states cut taxes over the past two years by lowering individual income tax rates, expanding tax credits, or sending one-time checks to residents. But there is another way states can use these funds: reduce or eliminate some local criminal legal fines and fees.
In just 13 years, Social Security trust funds will be unable to pay full promised benefits. Unfortunately, a House bill with broad bipartisan support could...
The Biden administration’s plan for broad-based student loan forgiveness of up to $20,000 per individual won’t affect borrowers’ federal tax bills, but it could have...
Industrial policy is trending. At a time when few policy ideas win bipartisan support, government subsidies for favored industries are feeling the love from Democrats...
It’s always tempting to exaggerate the importance of the latest big fight in Congress. The Inflation Reduction Act of 2022 (IRA) made some major policy...
Since 2002, teachers have been able to claim a modest educator expense deduction on their federal income tax returns. But is this tax benefit worth keeping?
Understanding how the Inflation Reduction Act (IRA) will affect the Internal Revenue Service’s operations requires wading through a swamp of misinformation, disinformation, and no information...
