Medicare faces serious short-term and long-term financial pressures. This report examines the revenue and distributional effects of options to increase revenues for Medicare and discusses their relative pros and cons. We use the Tax Policy Center microsimulation model to estimate the effect of...

Total state tax revenue collections increased 14.5 percent in nominal terms and 6.4 percent in real terms in the second quarter of 2022 relative to a year earlier. Both personal and corporate income tax revenues saw year-over-year real growth in the second quarter of 2022, at 6.6 and 27.1...

Refundable tax credits can play an important role in the financial lives of low-income families. The two that provide the most support are the earned income tax credit (EITC) and the child tax credit (CTC). Refundable tax credits differ from most programs that provide income support to low-...

While 19 states have enacted a tax on recreational marijuana, there is no standard cannabis tax in the US the way there is an alcohol tax, cigarette tax, and gas tax.

Instead, governments use three different types of cannabis taxes: a percentage-of-price tax, a weight-based tax, and a...

Total state tax revenue collections increased 21.7 percent in nominal terms and 13.9 percent in real terms in the first quarter of 2022 relative to a year earlier.

The double-digit growth in state tax revenues is from very volatile sources and is largely attributable to atypical revenue-...

Tax-exempt organizations are subsidized relative to taxable organizations because income related to furthering their core mission is excluded from income tax. The value of this subsidy is unclear. There is no government-provided estimate, and the tax benefit for any organization depends on the...

In 2017, the Tax Policy Center published “The Synthetic Control Method as a Tool to Understand State Policy,” a guide for using the synthetic control method (SCM) as a quantitative adjunct to case studies. With it, analysts can evaluate cases in which there is a single treated unit and no...

This paper examines how the Tax Cuts and Jobs Act (TCJA) will affect the US energy sector. It combines qualitative analysis of a range of TCJA provisions with estimates from the Tax Policy Center’s Investment and Capital Model of how a narrower set of provisions will change marginal effective...

Total state tax revenue collections increased 24.1 percent in nominal terms and 17.2 percent in real terms in the fourth quarter of 2021 relative to a year earlier.

Although state revenue collections have grown rapidly in the most recent months and reported revenue growth is widespread...