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Research and Development (R&D) Archive

Federal Tax & Budget Policy During the Lame Duck

TweetShareSharePin0 Shares Two weeks after the 2022 midterm elections, it’s becoming clearer where tax policy may be headed for the rest of the year and into 2023. In the short term, Congress must deal with tax extenders and expiring business tax provisions that may undermine the economy. Next year, the return of divided government and

2022 Tax Extenders: Details & Analysis

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

Carbon Tax Revenue Recycling: Carbon Tax Border Adjustment

TweetShareSharePin0 Shares Key Findings Carbon leakage occurs when a climate policy in one jurisdiction leads to emissions-producing activity simply shifting to a different jurisdiction. Leakage raises both environmental concerns—as it undermines emissions reduction efforts—and economic concerns. In the aggregate, leakage is relatively small, but it could have an outsized impact on specific emissions-intensive, trade-exposed (EITE)

Comparing Corporate Tax Systems in Europe, 2022

TweetShareSharePin0 Shares On October 17, we released the International Tax Competitiveness Index 2022, a study that measures and compares the competitiveness and neutrality of all 38 Organisation for Economic Co-operation and Development (OECD) countries’ tax systems. In the coming weeks, we will illustrate how European OECD countries rank in each of the five components of

Tax Cuts and Jobs Act Business Tax Increases: Details & Analysis

TweetShareSharePin0 Shares Key Findings Starting in 2022 and continuing through 2026, businesses will face several tax changes scheduled as part of the Tax Cuts and Jobs Act (TCJA), including a switch to five-year amortization of R&D expenses, the gradual phaseout of 100 percent bonus depreciation, a tighter interest deduction limitation, and an increase in international

2023 State Business Tax Climate Index

TweetShareSharePin0 Shares Launch Our Interactive Tool Executive Summary The Tax Foundation’s State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare. While there are many ways to show how much is collected in taxes by state governments, the Index is designed to show how well

Inflation Reduction Act Energy Tax Increases

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.

Inflation Reduction Act Green Energy Tax Credits

TweetShareSharePin0 Shares The Inflation Reduction Act created numerous tax subsidy programs intended to accelerate the transition to a greener economy. The justification for climate change action is strong, but there are two possible approaches to take which we might colloquially call carrots and sticks. Carrots are subsidies designed to reduce emissions—think tax credits for green energy

Patent Box Regimes in Europe, 2022

TweetShareSharePin0 Shares Patent box regimes (also referred to as intellectual property, or IP, regimes) provide lower effective tax rates on income derived from IP. Most commonly, eligible types of IP are patents and software copyrights. Depending on the patent box regime, income derived from IP can include royalties, licensing fees, gains on the sale of

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