Treasury Department Archive

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

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

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

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

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

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

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,