Tax

Iowa’s HF 2614, which passed both chambers of the legislature and now waits for the governor’s signature, makes several changes to the state’s tax code, which, although they will affect revenue, will encourage economic growth and make the state’s tax code more competitive. This bill decouples from GILTI and the net interest limitation and exempts…

Removing the tax code’s bias against long-term investment by implementing a neutral cost recovery system (NCRS) for structures and full expensing for other assets is estimated to increase economic growth and job creation. Using the Tax Foundation General Equilibrium Model, we estimate that permanent full expensing and neutral cost recovery for structures will add more…

The COVID-19 pandemic is driving a sharp decline in state and local income and sales tax revenues . But history suggests that one key local…

Several states may legalize recreational marijuana in the coming years as the coronavirus pandemic has left many state budgets in disarray and policymakers looking for new revenue sources. Combined with a desire to decriminalize, the zeitgeist is ideal for marijuana legalization. Montana is one state that could legalize sooner rather than later as campaigners for…

House Speaker Nancy Pelosi has rolled up many different committee bills into a single, massive 2,300-page, $1.5 trillion infrastructure package that the Democratic-controlled House likely…

The Government Accountability Office (GAO) recently released a report revealing that almost a half-million taxpayers missed their total rebate payment due to complications over disbursing funds to non-filers with eligible dependents. Taxpayers who do not regularly file tax returns—usually those who do not owe tax because they earn lower incomes or who receive federal disbursements…

A recent Brookings Institution study points out that “even before the COVID-19 crisis, housing affordability and instability were serious problems.” The study outlines a number of goals and strategies for increasing the supply of affordable housing, including federal subsidies, low-cost loans, and grants. These may well be viable solutions, but what is missing are policies…

After the 20007-2008 financial crisis, countries were pressed to tax the financial sector to compensate and partly recover the fiscal assistance governments offered to support the sector. However, in the wake of the coronavirus (COVID-19) crisis, some governments are seeking to cut bank taxes to enhance financial support to businesses and public investment projects. While…