Tax

Ronald Reagan once quipped that the government’s view of the economy could be summed up in three short phrases: if it moves, tax it; if it keeps moving, regulate it; and if it stops moving, subsidize it. As an actual explanation of governmental philosophy, it is perhaps too cynical, but especially as states see traditional…

States and localities across the country are facing an unprecedented fiscal situation from the economic shock of the COVID-19 pandemic. Governors are confronting drastically falling…

So far, the federal government has focused on short-term policies to stem the spread of COVID-19 and provide immediate tax relief to struggling individuals and businesses. Now, policymakers will need to consider long-term, pro-growth, and sustainable tax policies to help ensure a strong economic recovery. This new task raises a host of new questions: What…

With California’s unemployment rate approaching 25 percent, it is somewhat surprising to find policymakers contemplating a literal tax on jobs. That is, however, precisely what some California lawmakers have proposed under the COVID-19 Local Government and School Recovery and Relief Act, which would impose a $275 per employee tax on all businesses with at least…

This week, the Ohio House of Representatives passed House Bill 194, which would legalize and tax sports betting in the state. The bill now awaits action in the Ohio Senate. If enacted, the bill would legalize brick-and-mortar facilities and online betting while imposing a 10 percent excise tax on adjusted revenue (revenue minus winnings). The…

Congress can’t seem to end its love affair with tax deductions. For a brief period starting with then-House Ways & Means Committee Chair Dave Camp’s…

Remember when then-presidential hopefuls Bernie Sanders and Elizabeth Warren made wealth taxes key parts of their campaigns for the Democratic presidential nomination? That seems so…