Inflation Reduction Act Archive
Von der Leyen Biden EU IRA Visit & Competitiveness
March 9, 2023
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TweetShareSharePin0 Shares The President of the European Commission, Ursula von der Leyen, will meet with President Biden in Washington, D.C., on Friday to discuss ways to maintain transatlantic leadership in clean tech. President Leyen’s trip across the Atlantic comes on the heels of a virtual meeting between Treasury Secretary Janet Yellen and European Commission Executive
US Tax Reform Plan: Federal Flat Tax
February 14, 2023
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TweetShareSharePin0 Shares Key Findings The federal tax code remains a major source of frustration and controversy for Americans, and a hindrance to economic growth and opportunity. Other countries, such as Estonia, have proven that sufficient tax revenue can be collected in a less frustrating and more efficient way. This report provides an analysis of the
2023 Tax Filing Season: Tax Season Delays & Complexity
January 18, 2023
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TweetShareSharePin0 Shares As Americans prepare to file their 2022 tax returns, the Internal Revenue Service (IRS) remains mired in a backlog of millions of returns from previous tax filing seasons. The National Taxpayer Advocate issued a warning to lawmakers in her annual report to Congress that the backlog creates “challenges for the 2023 tax filing
EU Subsidies & Inflation Reduction Act
November 30, 2022
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TweetShareSharePin0 Shares French President Macron is coming to Washington, D.C., this week to ask President Biden the question on the minds of European leaders: “Why did you do this to us?” When President Biden signed the Inflation Reduction Act into law, he put many European companies at a disadvantage unless they move production to the
2022 Tax Extenders: Details & Analysis
November 15, 2022
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TweetShareSharePin0 Shares At the end of each year, policymakers face a series of expiring tax provisions that are typically extended on a temporary basis, setting up a recurring and almost ritualistic tax extenders season. At a time of heightened concerns about the economy, high deficits, and inflation, policymakers should prioritize stability and economic growth by
Inflation Reduction Act EU Tax & Trade Cooperation: EV Tax Credit
November 9, 2022
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TweetShareSharePin0 Shares Over the last six months, European perceptions of the Inflation Reduction Act have been a rollercoaster. European policymakers were hopeful that the Inflation Reduction Act would implement Janet Yellen’s Pillar Two commitment at the Organisation for Economic Cooperation and Development (OECD). But hope turned to disappointment when the final text was fundamentally different from
US Competitiveness Projected to Worsen Amid Changing Tax Landscape
October 18, 2022
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TweetShareSharePin0 Shares Nearly five years ago, the Tax Cuts and Jobs Act (TCJA) brought dramatic changes to U.S. tax policy. The federal corporate tax rate fell from 35 percent to 21 percent and other reforms improved the tax treatment of business investment, lowered taxes for individuals and families, and introduced a new system for taxing
Biden Tax Hike Proposals Live on After the Inflation Reduction Act
October 10, 2022
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TweetShareSharePin0 Shares Over the past two years, policymakers and taxpayers have grappled with proposals to increase taxes as ideas introduced in the 2020 presidential campaign were transformed into legislation. This effort culminated in August with the enactment of the Inflation Reduction Act. While many of the tax increases considered over the last two years were
Inflation Reduction Act Energy Tax Increases
September 22, 2022
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TweetShareSharePin0 Shares As noted in a Tax Foundation blog post last week, the Inflation Reduction Act (IRA) primarily uses carrots, not sticks, to incentivize reductions in carbon emissions. The Inflation Reduction Act creates or expands tax credits for various low- or no-emission technologies, rather than imposing a generalized penalty for emissions, such as a carbon tax.
Federal Tax Collections & Inflation Surging
September 19, 2022
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TweetShareSharePin0 Shares The latest inflation report confirms that prices for just about everything continue to rise, with the Consumer Price Index (CPI) up 8.3 percent over the last year and many categories up even higher, including food (11.4 percent) and energy (23.8 percent). While not part of the CPI, another measure of inflation (call it
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