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U.S. Effective Corporate Tax Rate Is Right in Line With Its OECD Peers

President Joe Biden’s proposal to raise taxes on corporations has renewed arguments about how much the U.S. should collect from corporations in tax revenue compared to other advanced countries. Advocates of raising corporate taxes argue that the U.S. collects less from corporations compared to its peers and that the U.S. has an unusually low effective […]

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Combined Corporate Rates Would Exceed 30 Percent in Most States Under Biden’s Tax Plan

President Joe Biden’s proposal to raise the federal corporate income tax rate to 28 percent would increase the combined average top tax rate on corporate income to 32.4 percent, highest in the Organisation of Economic Co-operation and Development (OECD), reducing U.S. competitiveness and long-run economic growth. While the focus has been on the federal rate, […]

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President Biden’s Infrastructure Plan Raises Taxes on U.S. Production

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The American Rescue Plan Act Greatly Expands Benefits through the Tax Code in 2021

American Rescue Plan Act of 2021 The United States has provided about $6 trillion in total economic relief to the American people during the coronavirus pandemic, including the $1.9 trillion that was approved when President Biden signed the American Rescue Plan (ARP) Act into law on Thursday, amounting to about 27 percent of gross domestic […]

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Wyden’s Energy Tax Proposal a Mixed Bag

With the $1.9 trillion American Rescue Act package signed into law, lawmakers are looking for the next issue to tackle. As the Biden administration turns toward infrastructure, Sen. Ron Wyden (D-OR) has suggested including reforms to the way the tax code subsidizes energy production in such a package. Wyden introduced the Clean Energy for America […]

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Improved Cost Recovery Is A Wide-Ranging Policy Solution

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 […]