Tax

The COVID-19 pandemic has disrupted global supply chains, worsened geopolitical tensions with China, and produced a spike in unemployment. These trends have combined to make bringing jobs back from overseas a politically valuable idea. There are several tax-related bills in Congress intended to incentivize specific industries to come back to the United States. But before…

Last Friday, the Wisconsin Supreme Court struck down several of Gov. Tony Evers’ (D) partial vetoes to the state’s biennial budget for fiscal years 2020 and 2021. Of the 78 partial vetoes issued by the governor in July 2019, four were challenged and the court struck down three. In Wisconsin, per the constitution, the governor…

Last week, former Vice President and presumptive Democratic presidential nominee Joe Biden released a set of economic proposals aimed at increasing investment in research & development (R&D) and “breakthrough” technology in energy. Biden should include canceling the upcoming amortization of R&D expenses in 2022, which would pair well with his plan and remove a headwind…

Today the U.S. Trade Representative (USTR) announced new tariffs in response to the French digital services tax. The tariffs of 25 percent on $1.3 billion worth of trade would not go into effect until January 6, 2021. The tariffs would apply to several make-up products, handbags, and assorted soaps. In January, the U.S. and France…

On July 2, a Columbus-based non-profit, the Buckeye Institute, filed a lawsuit against the city of Columbus and state of Ohio claiming that a recently passed bill, HB197, is unconstitutional. In Ohio, municipalities levy income taxes on non-residents’ income earned within their jurisdiction. It is not uncommon for localities to levy income taxes on non-residents…

Investment comes in a variety of forms—be it private or public investments ranging from rural broadband and 5G to health care infrastructure and innovation. But not all investment is equal in terms of its effects on productivity and economic growth. While the common perception tends to be that public infrastructure is more productive than private…

Due to the COVID-19 crisis, Peru has found itself with high levels of government spending that has resulted in a significant deficit. In order to offset costs, the government is considering a temporary wealth tax that has been termed the “Solidarity Tax.” However, while it is important that Peru find ways to offset its deficit…

Members of Congress are on a two-week recess before returning to consider a possible “phase 4” package to boost the economy and help individuals and businesses suffering from the economic effects of the most significant pandemic in the last century. Policymakers may be tempted to reach into the tax code to find a solution to…