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Individual and Consumption Taxes Archive

Impact of National Tax Reforms on the EU Economy

TweetShareSharePin0 Shares Note: The following is the testimony of Daniel Bunn, Tax Foundation Vice President of Global Projects, prepared for a EU Parliament Subcommittee on Tax Matters hearing on October 11, 2021, regarding the impact of national tax reforms on the EU economy. Thank you for the opportunity to testify today. My name is Daniel Bunn, and I am

Should Tax Policy Play a Role in Tobacco Harm Reduction?

TweetShareSharePin0 Shares Following the release of the House Democrats’ proposed Build Back Better Act, federal tobacco and nicotine taxation has been a hot topic in the United States. In an effort to raise roughly $100 billion, the House proposal would double cigarette taxes and increase all other tobacco and nicotine taxes to comparable rates—a strategy

Recent Changes in Top Personal Income Tax Rates in Europe, 2021

TweetShareSharePin0 Shares In 2019, revenue from personal income taxes made up 24 percent of total tax revenue across OECD countries. Countries tax labor income in various ways through payroll taxes, personal income taxes, and, in some cases, surtaxes. Between 2018 and 2021, eight European countries in the OECD changed their top personal income tax rates. Of these eight countries, four

Build Back Better Revenue Items

TweetShareSharePin0 Shares Note: The following is the testimony of Dr. William McBride, Tax Foundation Vice President of Federal Tax and Economic Policy, prepared for a Joint Economic Committee hearing on October 6, 2021, titled, “Building Back Better: Raising Revenue to Invest in Shared Prosperity.” Chairman Beyer, Ranking Member Lee, and members of the Joint Economic Committee, thank

Analysis of SALT Cap Repeal Proposal

TweetShareSharePin0 Shares As policymakers weigh whether to lift or repeal the $10,000 cap on state and local tax (SALT) deductions enacted by the Tax Cuts and Jobs Act (TCJA), they have to wrestle with how that change would primarily benefit high-earning taxpayers. As some have pointed out, other TCJA changes may further increase the benefits

Federal Plastics Tax Is Not a Good Revenue Raiser

TweetShareSharePin0 Shares One of the Senate’s proposals to pay for the Build Back Better Act is a federal excise tax on virgin plastics, which are plastics that are not reprocessed or recovered. The tax would be $0.20 per pound of virgin plastics used to make single-use plastics products. While few details have been released about

History of Step-Up in Basis Shows Perilous Road Ahead

TweetShareSharePin0 Shares As Congress considers President Biden’s proposal to tax unrealized capital gains at death, the history of previous efforts suggests it faces a perilous road ahead. Lawmakers must resolve tricky design and implementation details that derailed past attempts to change how capital gains are treated when assets are passed from one generation to the
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