From 1965 to 2022, the share of outstanding U.S. stock held in taxable brokerage and mutual fund accounts declined from 79 percent to 27 percent, as reflected in data from the financial accounts of the U.S. government collected by the Federal Reserve. The share of publicly traded stock held in...

This article reviews the 18-year tenure of the just-retired National Taxpayer Advocate, Nina Olson, and her successes and challenges in building the post into a key role in tax administration through casework, systemic advocacy, and detailed reports to Congress.

The critical appreciation...

In December 2017, President Donald Trump signed into law PL 115-97, commonly known as the Tax Cuts and Jobs Act (TCJA), which substantially changed federal individual and corporate income taxes. Many of the income tax changes in the TCJA will affect state income taxes through existing links...

If the United States undertakes actions to address the risks of climate change, the use of coal in the power sector will decline rapidly. Twenty-six US counties are classified as “coal-mining dependent,” meaning the coal industry is a major employer. In these areas, the industry is also an...

Federal tax and spending policies are worsening the problem of economic inequality. But the tax breaks that overwhelmingly benefit the wealthy are only part of the challenge. The increasing diversion of government spending toward income supports and away from opportunity-building programs also...