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55c984159366576a63f030510a9f1307 Archive

Biden International Tax Proposals: Details & Analysis

TweetShareSharePin0 Shares Key Findings The Biden administration’s “Made in America Tax Plan” would substantially raise taxes on the activities of U.S. multinational corporations, whether these activities are located domestically or abroad. From the perspective of U.S. multinationals, the proposal would increase their federal tax liabilities by $104 billion in 2022 and $1.2 trillion over 10

Options for Boosting Economic Growth

TweetShareSharePin0 Shares As policymakers consider tax options to boost the U.S. economy’s long-run economic growth, they should consider reforms that would increase growth the most while minimizing forgone tax revenue. Using our new book, Options for Reforming America’s Tax Code 2.0, we find that providing a full and immediate deduction for business investments, as well

Tax Fairness, Economic Growth, and Funding Government Investments

TweetShareSharePin0 Shares Note: The following is the testimony of Scott A. Hodge, President of the Tax Foundation, prepared for the Senate Finance Committee (Subcommittee on Fiscal Responsibility and Economic Growth of the Committee on Finance) for a hearing on April 27, 2021, titled, “Creating Opportunity Through a Fairer Tax System.” Thank you, Madame Chairman, ranking

GILTI and Corporate Rate Reduction

TweetShareSharePin0 Shares Today, members of the Nebraska Unicameral will debate a bill (LB432 with Revenue Committee amendment AM774) that, among other provisions, would exclude Global Intangible Low-Taxed Income (GILTI) from taxation and reduce the state’s top marginal corporate income tax rate by nearly one percentage point. These two tax changes would improve the state’s economic

Modernizing Rental Car and Peer-to-Peer Car Sharing Taxes

TweetShareSharePin0 Shares Key Findings As the travel and hospitality industries recover from the coronavirus pandemic, policymakers have an opportunity to reevaluate and repeal discriminatory excise taxes imposed on rental car transactions. Unlike other excise taxes, rental car excise taxes are not imposed to reduce a harm or ensure drivers are paying for infrastructure. Rather, the

2021 Capital Gains Tax Rates in Europe

TweetShareSharePin0 Shares In many countries, investment income, such as dividends and capital gains, is taxed at a different rate than wage income. Today’s map focuses on how capital gains are taxed, showing how capital gains tax rates differ across European OECD countries. When a person realizes a capital gain—that is, sells an asset for a

State Infrastructure Spending & State Infrastructure Revenue

TweetShareSharePin0 Shares Both the federal government and the states raise revenue for infrastructure spending through taxes on motor fuel and vehicles. The states also collect fees from toll roads and other road charges. This system constitutes a well-designed user fee system, as taxes paid by users of infrastructure are dedicated to building and maintaining infrastructure.

Controversy Erupts as Florida Follows Forty-Three States in Adopting Uncontroversial Tax Provision

TweetShareSharePin0 Shares “Just before midnight, DeSantis reveals he’s signed $1 billion tax on consumers,” the Orlando Sentinel headline read. “Governor just signed a bill into law to increase your taxes and give the new revenue of $1 billion to businesses,” one lawmaker tweeted (and got quoted in media coverage). What did Florida do now? Nothing
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