Tax expenditures are revenue losses that occur when federal tax law provisions reduce what individuals or businesses owe in taxes. They support certain activities, or they assist specific groups of ...

Several provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) affecting individual income taxes are set to expire after 2025. Key among these expiring provisions are changes to the child tax credit ...

The 2008 and 2009 tax acts provided large temporary tax cuts to most households, with the goal of helping the economy recover from the Great Recession. The 2010 tax act extended specific provisions of ...

A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US ...

States rely heavily on gas taxes to pay for transportation construction and maintenance costs. In 2021, state motor fuel taxes generated about $50 billion in revenue. State and local motor fuel tax ...

The American Rescue Plan Act significantly expanded the child tax credit (CTC) for 2021, but according to the Treasury Department, as many as 2.3 million children might miss out on benefits because ...

Our guest this week is Kyle Pomerleau, a senior fellow at the American Enterprise Institute. He will discuss the tax provisions in the Inflation Reduction Act and how the legislation could impact the ...

Not all taxpayers who have capital gains pay the maximum rates because rates depend on taxpayer income. However, many do because taxpayers with capital gains are highly concentrated at the top of the ...

Research report State Revenues Show Sluggish Growth Through the First Six Months of 2024 State Tax and Economic Review, 2024 Quarter 1 Lucy Dadayan Display Date September 17, 2024 File File Download ...

The American Rescue Plan Act of 2021 (ARP) temporarily expanded the so-called “childless” EITC, or the earned income tax credit for workers without children at home.

Fines and fees can impose heavy burdens on those who come into contact with the criminal legal system. Using nationally representative data from the Urban Institute’s 2023 Well-Being and Basic Needs ...

This paper summarizes major individual and corporate tax provisions of the 2017 Tax Cuts and Jobs Act (TCJA), traces its origins, and compares its changes to previous tax changes. We examine its ...