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Treasury Department Archive

Cigarette Tax Scorecard shows modest progress globally

TweetShareSharePin0 Shares The second edition of the Tobacconomics Cigarette Tax Scorecard is out today and shows that governments have made insufficient progress in addressing the world’s leading cause of preventable death, despite established evidence that the most effective tool—tobacco taxation—would reduce smoking and increase tax revenues. By using new data from the WHO Report on

One More Week to Get BBB Done?

TweetShareSharePin0 Shares Infrastructure Bill passes with bipartisan support. Late Friday night, the House passed the $550 billion bipartisan infrastructure bill with 13 Republican yes votes and 6 Democratic no’s. The Congressional Budget Office estimates the bill will add $256 billion to the deficit. The bill includes few increases or spending reductions, though it does end the

Oklahoma Tax Reform Options Guide

TweetShareSharePin0 Shares Executive Summary Overview Oklahoma policymakers have been focused on tax reform for many years, always keeping an eye on the state’s neighbor to the south. Legislators succeeded in reducing rates for both individual and corporate income taxes, but Oklahoma is far from alone in this pursuit. In an increasingly mobile economy, states are

JCT Scores Build Back Better

TweetShareSharePin0 Shares JCT: Build Back Better Would Raise $1.5 trillion in tax revenue over 10 years. The Joint Committee on Taxation estimated tax revenues would come close to paying for the big spending bill over the next decade. The biggest revenue raisers include the corporate minimum tax on book income, the excise tax on stock

Close To Closing The Deal, At Least In The House

TweetShareSharePin0 Shares SALT fix is in. House Democrats agreed to raise the state and local tax (SALT) deduction cap from $10,000 to $72,500. The latest version of the Build Back Better bill also restores a House Ways & Means proposal intended to curb the ability of very wealthy individuals to stash money in Roth IRAs.

Comparing Corporate Tax Systems in Europe, 2021

TweetShareSharePin0 Shares On October 17, we released the International Tax Competitiveness Index 2021, a study that measures and compares the competitiveness and neutrality of all 37 OECD countries’ tax systems. In the coming weeks, we will illustrate how European OECD countries rank in each of the five components of the Index: corporate income taxes, individual

The Latest SALT Cap Fix Would Mostly Benefit High Income Households, Do Little For Middle-Income People

TweetShareSharePin0 Shares The House Democrats’ latest plan to adjust the cap on the state and local tax (SALT) deduction would provide little or no benefit for low and middle-income households but generate a substantial tax windfall for those with much higher incomes, according to a new analysis by the Tax Policy Center. The latest plan
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