Treasury Department Archive

Financial Consequences For Russia, Understanding US Energy Tax Policy

TweetShareSharePin0 Shares Congress strips special trade status from Russia. The House and Senate overwhelmingly approved legislation to strip Russia of its most-favored-nation trade status and a ban on Russian oil imports. The moves come in response to Russia’s invasion of Ukraine. President Biden is expected to sign both bills.   Does the US want to subsidize fossil fuels or

The Energy Tax Policy Conundrum: Do We Want To Reduce Fossil Fuel Prices Or Increase Them?

TweetShareSharePin0 Shares State and federal lawmakers are debating an extraordinary range of often-contradictory energy-related tax changes. These inconsistencies have existed for years, but they rarely have been more apparent than today. We are at a time when climate experts increasingly are warning of the growing risks of unchecked fossil fuel use. Yet, we also are

Tax Justice Network Arabic podcast #52: قرض صندق النقد لمصر: هل من بديل؟

TweetShareSharePin0 Shares Welcome to the 52nd edition of our Arabic podcast/radio show Taxes Simply الجباية ببساطة contributing to tax justice public debate around the world. It’s produced and presented by Walid Ben Rhouma and is available on most podcast apps. Any radio station is welcome to broadcast it for free and websites are also welcome to share it. You can follow

Tax Relief Can Come In All Shapes And Sizes

TweetShareSharePin0 Shares A bigger tax deduction for teachers? Ohio Sen. Sherrod Brown and Maryland Rep. Anthony Brown will introduce a bill to increase the tax deduction teachers can take for out-of-pocket classroom supplies from $250 to $1,000 and index the deduction to inflation. Brown hopes to attach the plan to a larger tax bill and

Tax Burden by State: 2022 State and Local Taxes

TweetShareSharePin0 Shares Key Findings In calendar year 2022, state-local tax burdens are estimated at 11.2 percent of national product. Taxpayers remit taxes to both their home state and to other states, and about 20 percent of state tax revenue comes from nonresidents. Our tax burdens analysis accounts for this tax exporting. New Yorkers faced the

Once More Unto The Breach!

TweetShareSharePin0 Shares Will Senate Democrats make a deal with Sen. Manchin on a smaller spending plan? They’re going to try one more time, three months after the West Virginia Democrat sunk the $1.7 trillion Build Back Better plan. Politico reports that Senate Dems are switching up their strategy by meeting Manchin’s recent demands. He says

Integrated Tax Rates on Corporate Income in Europe

TweetShareSharePin0 Shares In most European OECD countries, corporate income is taxed twice, once at the entity level and once at the shareholder level. Before shareholders pay taxes, the business first faces the corporate income tax. A business pays corporate income tax on its profits; thus, when the shareholder pays their layer of tax they are
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