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A Holiday Tradition: Tax Extenders Slated to Expire at End of 2021

It’s that time of year when we review which items of the tax code are scheduled to expire or otherwise change in just a few days. An eclectic group of temporary tax policies approach their expiration dates, but at the last minute typically hitchhike onto must-pass legislation for another temporary extension. Not so this year, […]

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Norway’s New Budget Adds Unnecessary Complexity

Norway’s new center-left government that took power on October 14 has set out its 2022 budget proposals, amending the 2022 budget proposal announced last month by the outgoing conservative government. The new budget comes with several tax cuts and a handful of tax hikes. While the new proposal cuts indirect taxes by $270 million it […]

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Spain’s 2022 Budget Unsurprisingly Comes with More Tax Hikes

Spain’s lower chamber has given a green light to the 2022 budget proposal, which comes with a new minimum corporate tax rate of 15 percent for large companies with annual revenue over €20 million (US $23 million), while banks and energy firms must pay a minimum of 18 percent. The goal is to prevent companies […]

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Carbon Tax: Weighing the Options for Financing Reconciliation

Last week, The New York Times reported that in opposing corporate or individual income tax increases, Senator Kyrsten Sinema (D-AZ) has pushed other Senate Democrats, such as Senator Ron Wyden (D-OR), to consider a carbon tax to finance some of the infrastructure package. A carbon tax would be a less economically harmful pay-for than either […]

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Details and Analysis of President Biden’s American Jobs Plan

Table of Contents Launch Resource Center: President Biden’s Tax Proposals The Biden administration’s proposed American Jobs Plan (AJP) would increase federal spending by about $2.2 trillion over 10 years, including $1.7 trillion for infrastructure, partially funded with permanently higher corporate taxes of about $1.7 trillion over 10 years (conventionally estimated). Using the Tax Foundation General […]

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Tax Policy in the First 100 Days of the Biden Administration

In his first 100 days as president, Joe Biden has proposed more than a dozen significant changes to the U.S. tax code that would raise upwards of $3 trillion in revenue and reduce incentives to invest, save, and work in the United States. While proposing ways to pay for new spending and for expanded refundable […]

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Using Carbon Tax Revenue to Grow the Economy

The Biden administration has made climate change one of the core challenges it plans to address over the next four years. One climate policy lawmakers have debated—and will likely continue to do—is a carbon tax. At the same time, the new Administration will have to tackle the severe, and likely continuing, economic fallout of the […]

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How Expensing for Capital Investment Can Accelerate the Transition to a Cleaner Economy

Key Findings Expensing for capital investments would increase new investment and capital stock turnover, supporting the replacement of old capital with more environmentally friendly structures, machinery, and equipment. Lowering the cost of investment would eliminate the tax bias against more capital-intensive energy efficiency improvement projects. Neutral cost recovery for structures would increase apartment building construction, […]