The declining values of office buildings across the country in the aftermath of the COVID-19 pandemic could significantly change how major cities and other localities raise revenue and provide public services. This paper describes the mechanics of commercial property tax collection and uses...
A legacy of racial discrimination—in the housing market and mortgage lending industry, among other sectors—has led to lower rates of homeownership among Black and Hispanic families than among White families. One consequence of the lower homeownership rates is that Black and Hispanic families do...
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...
In this brief, we describe the features of the US tax system that favor buybacks over dividends. We also estimate the size of those tax advantages. In the absence of any excise taxes, we calculate the US tax advantage for buybacks over dividends would be 7.2 percent. About two-thirds of the...
I propose and analyze four major revenue-neutral sets of federal income tax reforms, each of which would create a simpler and more progressive system. A new page on the Urban-Brookings Tax Policy Center Website allows anyone to compare their filing requirements and tax burdens under the...
As of December 2023, 15 states offered a child tax credit (CTC) on their state individual income tax, but the structure and size of these credits varied significantly. This report summarizes and explains the policy levers involved in designing a state CTC, and it uses the Tax Policy Center state...
The Future of Commercial Real Estate and City Budgets
The declining values of office buildings across the country in the aftermath of the COVID-19 pandemic could significantly change how major cities and other localities raise revenue and provide public services. This paper describes the mechanics of commercial property tax collection and uses...
Public Comment on Proposed Rulemaking to Expand Tax Data Sharing with the US Census Bureau
The Internal Revenue Service (IRS) posted a proposed rule to expand the range of tax data shared with the US Census...
Encouraging Charitable Giving: Matching Grants Versus Rebates
Racial and Ethnic Disparities in the Home Mortgage Interest Deduction
A legacy of racial discrimination—in the housing market and mortgage lending industry, among other sectors—has led to lower rates of homeownership among Black and Hispanic families than among White families. One consequence of the lower homeownership rates is that Black and Hispanic families do...
Who's Left to Tax? Grappling with a Dwindling Shareholder Tax Base
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...
What is The Us Tax Advantage of Stock Buybacks Over Dividends?
In this brief, we describe the features of the US tax system that favor buybacks over dividends. We also estimate the size of those tax advantages. In the absence of any excise taxes, we calculate the US tax advantage for buybacks over dividends would be 7.2 percent. About two-thirds of the...
Radical Simplification of the Income Tax: Issues and Options
I propose and analyze four major revenue-neutral sets of federal income tax reforms, each of which would create a simpler and more progressive system. A new page on the Urban-Brookings Tax Policy Center Website allows anyone to compare their filing requirements and tax burdens under the...
Constructing a Child Tax Credit That Fits Every State
As of December 2023, 15 states offered a child tax credit (CTC) on their state individual income tax, but the structure and size of these credits varied significantly. This report summarizes and explains the policy levers involved in designing a state CTC, and it uses the Tax Policy Center state...
State Tax and Economic Review, 2023 Quarter 3
In the Absence of the Expanded Child Tax Credit, Many Families with Children Faced Material Hardship in 2022