Tax

Although it’s unclear how soon state economies across the country may be able to open again, it’s not too early for states to think about how they can remove barriers to businesses and consumers resuming activity after this huge disruption. Today’s map looks at which states levy a gross receipts tax, which is often considered…

Short-term policies to “stimulate” economic growth after COVID-19 run the risk of producing short-term results and would likely prove insufficient and ineffective for sparking a long-term recovery. Lawmakers at all levels of government should focus on deliberate and comprehensive strategies to clear a path of the most economically harmful taxes that will prevent businesses and…

Remembering Paul O’Neill If President George W. Bush expected Paul O’Neill to spend his time as Secretary of the Treasury polishing his resume and promoting…

COVID-19 is placing an unprecedented strain on local economies, hospital systems , health departments , and budgets . To weather the storm and continue to…

The current recession derives from two sources: demand and supply. On the demand side, consumers are purchasing fewer durable goods (e.g., automobiles) and spending much…

The Coronavirus Aid, Relief, and Economic Security (CARES) Act grants massive tax relief for business losses, but most of the benefits will be reaped by…

Over the next decade, the individual “ recovery rebate ” program will account for about half of the Coronavirus Aid, Relief and Economic Security (CARES)…

On March 19 we launched a tracker providing a repository of information related to state fiscal policy responses to COVID-19. We are updating the tracker frequently and will be using the Tax Foundation blog to summarize new developments and provide analysis of relevant trends as they emerge. This blog post is part of that series. Past Updates: March 24, March 25, March 26,…

The Internet Tax Freedom Act (ITFA), enacted in 1998, was intended to protect the developing internet technology. ITFA, which prohibited states and localities from applying taxes on internet access or imposing discriminatory digital-only taxes, became permanent in 2016 but included a grandfather clause that allowed states with taxes existing before 1998 to keep that tax…