Treasury Department Archive

TweetShareSharePin0 Shares In rare cases when academic research attracts political attention, the results can be dramatic. An illuminating example of such an impact is an episode where a single review article became the chief justification for a drastic corporate tax rate cut with a direct budgetary impact of around 900 million euros. A close reading

TweetShareSharePin0 Shares With the adoption of its new budget in mid-November, North Carolina has reinforced its position as a leader in pro-growth tax reform, becoming the 12th state to enact income tax rate reductions in 2021 alone. (An additional four states implemented income tax cuts in 2021 that were previously adopted or were automatically triggered

TweetShareSharePin0 Shares A government shutdown, at least for weekend, seems increasingly likely.  Congress needs to act quickly to avoid a shutdown tomorrow night. But roadblocks keep appearing. Some Senate Republicans insist they’ll block any continuing resolution that includes funding to enforce vaccine mandates—a non-starter for Democrats. And the two parties are at odds over the

TweetShareSharePin0 Shares Today we examine how European countries rank on consumption taxes, continuing our map series on our recently published 2020 International Tax Competitiveness Index (ITCI). The ITCI measures and compares the competitiveness and neutrality of all 36 OECD countries’ tax systems, looking at corporate income taxes, individual taxes, consumption taxes, property taxes, and the

TweetShareSharePin0 Shares Boosting American industry is a policy objective shared by many lawmakers and is a key issue at debate in the Build Back Better Act as well as other year-end legislation. Missing from the debates is how the tariffs put in place by the Trump administration, and largely maintained by the Biden administration, are

TweetShareSharePin0 Shares Stop gap funding bill vote today? House Democratic leaders still are trying to assemble a continuing resolution in time for a vote as early as today. The stopgap funding bill would keep the government open into at least mid-January. But most Republicans, who instead want bipartisan agreement on specific agency funding levels, may

TweetShareSharePin0 Shares A prediction: When Congress finally passes the Build Back Better bill, Hill leaders will quietly slip in at least one obscure, last-minute tax break to benefit an elite group of wealthy taxpayers. Few lawmakers will know it is there. Journalists won’t discover it until after the measure has passed. It won’t be the