Research Archive

National Debt, Deficit, Social Security, Medicare

TweetShareSharePin0 Shares Note: The following is the testimony of Scott Hodge, President Emeritus and Senior Policy Advisor at the Tax Foundation, prepared for House Budget Committee hearing on March 29, 2023, titled, “The Fiscal State of the Union.” Mr. Chairman and Ranking Member Boyle, Thank you for the opportunity to speak with you today about the nation’s

Property Taxes Guide: Property Tax Assessment

TweetShareSharePin0 Shares The past two years have seen a strong focus on tax reform, specifically on individual and corporate income taxes—with 2023 continuing the trend. But as housing prices are rapidly increasing, and property tax bills along with them, the property tax has come into the spotlight in many states. Because property taxes are a

Biden Budget Tax Proposals: Details & Analysis

TweetShareSharePin0 Shares Topline Preliminary Estimates Net Deficit Impact Long-run GDP Wages FTE Jobs Note: *On a conventional basis. Source: Tax Foundation General Equilibrium Model, March 2023. President Biden’s Fiscal Year 2024 Budget outlines several major tax increases that would add up to nearly $4.8 trillion in new taxes targeted at businesses and high-income individuals. After $833 billion

Local Income Taxes by State: Local Income Tax Data

TweetShareSharePin0 Shares Key Findings Although most states forgo local income taxes, they are a significant source of local tax revenue in six states and at least a modest source of revenue in 10 others. Some use state definitions of income, while others define income separately or make modifications to the state base. Localities that “piggyback”

US Tax Reform Plan: Federal Flat Tax

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

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