Treasury Department Archive

TweetShareSharePin0 Shares Those of us who have been writing about the federal budgets for too long remember the sad history of presidents trotting out wildly optimistic economic assumptions to explain away growing deficits and debt. It was a tried-and-true way to hide their unwillingness to pay for ambitious spending with too little tax revenue. Former

TweetShareSharePin0 Shares In February last year, we published the 2021 edition of our Financial Secrecy Index, a global ranking of countries most complicit in helping individuals hide their finances from the rule of law. The index grades each country’s legal and financial system with a secrecy score out of 100 where a zero out of 100 is full transparency and a

TweetShareSharePin0 Shares Our kids finish their school year in two weeks. And after a year of instruction that was either remote, in-person, or a mix of both, they look forward to summer vacation and then to September, when public school will feel more “normal.”  But they may have fewer classmates. Here in Michigan, public school

TweetShareSharePin0 Shares Our new book Options for Reforming America’s Tax Code 2.0 models several tax proposals that would help low-income taxpayers with little impact on overall economic growth. Here we take a closer look at the most extensive of these proposals: restructuring the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) based on

TweetShareSharePin0 Shares In a recent report that reviews inheritance taxation in OECD countries, the Organisation of Economic Co-operation and Development (OECD) concludes that inheritance taxes could play a key role in reducing inequality while increasing countries’ tax revenues. When analyzing the wealth distribution in 27 OECD countries, the report finds that in 2015, on average,

TweetShareSharePin0 Shares The single biggest change in a century to international tax rules will be discussed this weekend at an annual meeting of the G7 – a club of the world’s seven largest economies: Canada, France, Germany, Italy, Japan, the UK and the US. The G7 will seek an agreement on implementing a global minimum

TweetShareSharePin0 Shares Montana adopted structural reforms to both individual and corporate income taxes during the recently adjourned legislative session, enacting three bills reducing individual tax rates, simplifying the state’s individual tax system, repealing 16 tax credits, and changing the apportionment factor for corporate income tax. This tax reform package, signed by Gov. Greg Gianforte (R)