TPC: Those making over $430,000 get most of the benefit of a SALT cap repeal. Repealing the $10,000 cap on state and local tax (SALT) deductions would cut 2025 taxes by an average of more than ...

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2025, of repealing the $10 ...

Former President Trump’s proposal to repeal the $10,000 cap on the state and local tax (SALT) deduction would cut 2025 taxes by an average ...

IRS names new head of the Independent Office of Appeals. The agency selected Elizabeth Askey to serve in the role. She’ll set strategy and oversee operations of the office, which helps to resolve ...

Trillions of dollars of unrealized capital gains permanently escape taxation, disproportionately benefitting the richest ...

A grand bargain that acknowledges tradeoffs is the way out of the nation’s fiscal crisis. TPC’s Gene Steuerle reviews the efforts of the Peter G. Peterson Foundation and the Center for Collaborative ...

One of the most common tax complaints I hear from small business owners is about filing their taxes. Paying isn’t their ...

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 ...

How do Opportunity Zones Work? The 2017 Tax Cuts and Jobs Act created the Opportunity Zones program—meant to spur investment in undercapitalized communities. The program provided three tax benefits ...

Among OECD countries in 2022, consumption tax revenue (federal, state, and local levels) as a share of total tax revenue ranged from 16% in the United States to 50% in Hungary.

Individual income tax relief. Created the Making Work Pay Credit and the American Opportunity Tax Credit. Increased the EITC rate for families with three or more children to 45 percent; increased ...