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Treasury Department Archive

Progress On A Global Corporate Tax Rate?

TweetShareSharePin0 Shares Will there be a global deal on corporate taxation of multinationals later this year? The Financial Times reports that Group of Seven countries is closing in on an agreement. France, Germany and Italy think the US offer of a15 percent global minimum tax could set the stage for an international deal by July.

State Taxation of GILTI: Impact of Biden Tax Proposals

TweetShareSharePin0 Shares   Key Findings Twenty states and the District of Columbia tax some portion of Global Intangible Low-Taxed Income (GILTI), although only 16 of those states have issued guidance on the matter more than three years after the federal law went into effect. States that have not yet issued guidance on their treatment of

Reviewing the Impact of Taxes on Economic Growth

TweetShare1SharePin1 Shares With the Biden administration proposing a variety of new taxes, it is worth revisiting the literature on how taxes impact economic growth. In 2012, we published a review of the evidence, noting that most studies find negative impacts. However, many papers have been written since, some using more sophisticated empirical methods to identify

TPC Compares President Biden’s Tax Agenda With Candidate Biden’s: Where It Differs and Where It Tracks

TweetShare1SharePin1 Shares When Joe Biden ran for president, his campaign platform included dozens of relatively specific tax proposals. They ranged from expanding refundable tax credits for low- and moderate-income households to increasing payroll taxes for high-income workers to major changes in the way the US would tax multinational corporations. And, with a few notable exceptions,

Action Or Inaction, Taxes May Have Only One Way to Go

TweetShare1SharePin12 Shares “Raise ‘em now, we’ll cut ‘em later when we’re back in power.” That’s the message from congressional Republicans to their Democratic colleagues. NBC News  looks at the positioning. Republicans already are attacking Democrats in swing districts for wanting to raise taxes and for backing new funding for IRS enforcement (even though many Republicans

Action Or Inaction, Taxes May Have Only One Way to Go

TweetShareSharePin0 Shares “Raise ‘em now, we’ll cut ‘em later when we’re back in power.” That’s the message from congressional Republicans to their Democratic colleagues. NBC News  looks at the positioning. Republicans already are attacking Democrats in swing districts for wanting to raise taxes and for backing new funding for IRS enforcement (even though many Republicans

Republican Study Committee Budget: Tax Policy Ideas

TweetShareSharePin0 Shares While much of the tax policy now under debate aims to increase the tax burden on businesses, several policies in the newly released Republican Study Committee (RSC) budget for Fiscal Year 2022 focus on reducing the tax code’s barriers to investment and saving. The RSC budget contains many possible tax reforms, but two

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