Treasury Department Archive

Washington State Capital Gains Tax Proposal

TweetShareSharePin0 Shares When is an income tax an excise tax? And for that matter, what exactly is an excise tax? The fate of Washington’s capital gains tax, currently in litigation, rests at least in part on the answer to these questions. By way of background, Washington’s supreme court has repeatedly held that the state’s constitution

“Wins Above Replacement” Econ Guide

TweetShareSharePin0 Shares Earlier today we published our annual State Business Tax Climate Index, which measures tax structure. It’s an extremely valuable diagnostic tool, enabling readers to compare states’ tax structures across more than 120 variables. Unlike most studies of state taxes, it is focused on the how more than the how much, in recognition of the

Will There Be A Blue, Blue, BBB-less Christmas?

TweetShareSharePin0 Shares Don’t ask about Child Tax Credit? President Biden and Senate Democrats still are trying to pass Build Back Better  before Christmas. But Sen. Joe Manchin  continues to press for spending reductions and more modest tax cuts. Multiple news outlets report talks between  Biden and the senator are at an impasse. Among other concerns,

Comparing Property Tax Systems in Europe, 2021

TweetShareSharePin0 Shares Today’s map shows how European OECD countries rank on property taxes, continuing our series on the component rankings of our 2021 International Tax Competitiveness Index (ITCI). Although an important element when measuring the neutrality and competitiveness of a country’s tax code, property taxes account on average for less than 5 percent of total

2022 State Business Tax Climate Index

TweetShareSharePin0 Shares Interactive: Compare Your State Executive Summary The Tax Foundation’s State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare. While there are many ways to show how much is collected in taxes by state governments, the Index is designed to show how well

Spain Start-Up Law Tax Proposal: Details & Analysis

TweetShareSharePin0 Shares Three years after its initial announcement, Spain’s government has given a green light to the “start-up law” and sent it to parliament. The bill that could be approved by mid-2022 is part of the reform package that Spain and the European Commission agreed upon in order for Spain to receive the European Union

Debt Limit Lifted, For Now

TweetShareSharePin0 Shares Congress passes $2.5 trillion debt limit increase. The  increase likely avoids default on the nation’s debt until 2023, and forestalls another partisan battle over borrowing until after the 2022 congressional elections. The hike is the largest dollar increase in US history, but as a  percentage boost, it is slightly lower than what Congress

Lessons from the 2009 Recovery Act for an Inclusive Recovery from the Pandemic

TweetShareSharePin0 Shares The federal government and many state and local governments are placing equity at the forefront of their pandemic relief efforts. But to effectively follow through on this important goal, policymakers can learn from initiatives undertaken in response to the Great Recession. In a new research brief, we described lessons from the 2009 American

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