Treasury Department Archive

Ukraine Aid, School Taxes, and Federal Prison

TweetShareSharePin0 Shares Ukraine aid passes Senate. The $40 billion emergency aid package cleared the Senate just in time. The Pentagon had nearly exhausted its funding to send weapons to Ukraine. Eleven Republicans opposed the measure. The House passed the bill last week. It includes no offsets. Schumer and Manchin talking spending and taxes…again. Senate Democratic

African countries improve on Financial Secrecy Index, call for UN tax convention to end plunder

TweetShareSharePin0 Shares African finance ministers have adopted a resolution calling for a United Nations convention to stop tax abuse earlier this week as some of the richest nations, including the US and Switzerland, continue to be the biggest suppliers of financial secrecy according to the Financial Secrecy Index 2022, published this week by the Tax

Global Tax Deal: Time for an Updated Impact Assessment

TweetShareSharePin0 Shares This week it was reported that during her recent trip Poland, Treasury Secretary Janet Yellen offered estimates from the EU Tax Observatory as evidence that the Polish government would benefit from supporting the global tax deal. Poland has been cautious to lend its support to the EU legislation to implement the minimum tax

FDA Ban on Menthol Cigarettes: Details & Analysis

TweetShareSharePin0 Shares The Tax Foundation respectfully submits comment on the state tax and revenue implications of the proposed tobacco product standard for menthol in cigarettes. Alongside the intended consequence of limiting sales of menthol cigarettes, menthol cigarette prohibition will have a significant impact on state revenue collections, in excess of the losses associated with individuals

Unemployment, Retirement, and Reporting | Tax Policy Center

TweetShareSharePin0 Shares Tune in today at noon for the TPC Prescription: Talking unemployment benefit reform with Michele Evermore. The deputy director for policy at the US Department of Labor Office of Unemployment Insurance Modernization will talk with TPC’s Howard Gleckman about efforts to streamline and improve unemployment insurance systems. Register and tune in here.  Yellen

The Financial Secrecy Index 2022 in the Tax Justice Network podcast, the Taxcast

TweetShareSharePin0 Shares Welcome to the latest episode of the Tax Justice Network’s monthly podcast, the Taxcast. You can subscribe either by emailing naomi [at] or find us on your podcast app. Which nations are the world’s biggest financial secrecy offenders? And what does it tell us about the world, about politics and about democracy? How high does your country

The TCJA Increased Foreign Investment In The US

TweetShareSharePin0 Shares The TCJA encouraged foreign-owned corporations to retain more US earnings. A new TPC study shows that corporate tax cuts in the Tax Cuts and Jobs Act (TCJA) encouraged foreign-owned US companies to reinvest more of their earnings here. Researchers also found a positive relationship between the TCJA tax cuts and foreign-owned companies’ investment

Why Congress Will Borrow To Help Ukraine But May Pay For New COVID-19 Medical Costs With Offsetting Spending Cuts

TweetShareSharePin0 Shares Why is Congress prepared to spend billions of dollars for new aid to Ukraine without requiring offsetting tax increases or spending cuts at the same time lawmakers are demanding that more COVID-19-related therapeutics and testing be fully paid for? It can’t be about the money. The next round of Ukraine aid will cost

A Holdout, A Dependency, And An Agreement

TweetShareSharePin0 Shares Poland is not yet on board with a global minimum corporate tax. Treasury Secretary Janet Yellen told reporters yesterday that there has been no breakthrough in talks with Poland, the lone holdout in the European Union’s plan to implement a 15 percent global corporate minimum tax. However, she said “good, frank discussions” are

Estate, Inheritance, and Gift Taxes in Europe

TweetShareSharePin0 Shares Inheritance tax dates to the Roman Empire, which collected 5 percent of inherited property to pay soldiers’ pensions. Today, the practice of inheritance tax is widespread. The majority of European countries covered in today’s map currently levy estate, inheritance, or gift taxes. These countries are Belgium, Bulgaria, Croatia, the Czech Republic, Denmark, Finland,
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