The Inflation Reduction Act (IRA) of 2022 enacted an $80 billion 10-year investment in the Internal Revenue Service on top of the agency’s regular annual appropriations. Although Congress cut the IRA funding by over 25 percent the following year, the agency has maintained its commitment to the...
Total state government tax revenue collections rose 3.0 percent in nominal terms and 0.6 percent in real terms in the first quarter of 2024 relative to a year earlier Key tax revenue sources showed mixed performance.
This paper summarizes major individual and corporate tax provisions of the 2017 Tax Cuts and Jobs Act (TCJA), traces its origins, and compares its changes to previous tax changes. We examine its effects on the budget, economic activity, and distribution of resources. Based on evidence through...
State revenue forecasters face multifaceted challenges in projecting revenues, especially amid rapid and significant economic, demographic, and technological changes.
This report provides an in-depth examination of the challenges and complexities involved in state revenue forecasting...
This report provides an overview of interactions between the federal individual income tax system and racial and ethnic disparities in the United States. The tax code may appear to be “race blind” because the Internal Revenue Service does not ask tax filers to report their race or ethnicity. But...
Measuring Success: New Performance Metrics for a New Internal Revenue Service
The Inflation Reduction Act (IRA) of 2022 enacted an $80 billion 10-year investment in the Internal Revenue Service on top of the agency’s regular annual appropriations. Although Congress cut the IRA funding by over 25 percent the following year, the agency has maintained its commitment to the...
State Revenues Show Sluggish Growth Through the First Six Months of 2024
Total state government tax revenue collections rose 3.0 percent in nominal terms and 0.6 percent in real terms in the first quarter of 2024 relative to a year earlier Key tax revenue sources showed mixed performance.
How the American Rescue Plan's Temporary EITC Expansion Impacted Workers Without Children
How Fines and Fees Impact Family Well-Being
Sweeping Changes and an Uncertain Legacy
This paper summarizes major individual and corporate tax provisions of the 2017 Tax Cuts and Jobs Act (TCJA), traces its origins, and compares its changes to previous tax changes. We examine its effects on the budget, economic activity, and distribution of resources. Based on evidence through...
A Social Safety Net Repair: Delivering State Tax Benefits to Immigrant Families
Beyond the Crystal Ball: State Revenue Forecasts before, during, and after the COVID-19 Pandemic
State revenue forecasters face multifaceted challenges in projecting revenues, especially amid rapid and significant economic, demographic, and technological changes.
This report provides an in-depth examination of the challenges and complexities involved in state revenue forecasting...
A Guide to Understanding Racial Disparities in the Federal Individual Income Tax System
This report provides an overview of interactions between the federal individual income tax system and racial and ethnic disparities in the United States. The tax code may appear to be “race blind” because the Internal Revenue Service does not ask tax filers to report their race or ethnicity. But...
State Tax and Economic Review, 2023 Quarter 4
The Sensitivity of the Tax Elasticity of Capital Gains to Lagged Tax Rates and Migration