After promising increased tariff rates on the campaign trail, President Trump has expanded tariffs on various countries and goods. TPC continues to track these announcements and will update this page ...

Lawmakers can control all spending except the interest due on government debts. However, discretionary spending often gets more scrutiny than mandatory spending or tax breaks that function much like ...

Capital gains are profits from the sale of a capital asset, such as shares of stock, a business, a parcel of land, or a work of art. Capital gains are generally included in taxable income, but in most ...

Under the American Rescue Plan Act, families with children under age 6 are eligible for an annual credit of up to $3,600 per child, and families with children ages 6 to 17 are eligible for an annual ...

A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US ...

Federal, state, and local government officials are increasingly paying attention to reforms of fines and fees. These constitute a small share of total revenues, but they can be particularly harmful ...

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 ...

The American Rescue Plan Act of 2021 (ARP) temporarily expanded the so-called “childless” EITC, or the earned income tax credit for workers without children at home. The maximum credit for these ...

Although it is generally blind with respect to race, the tax code can create racial disparities when factors that affect tax liability are correlated with race. In this working paper, we provide new ...

For children to thrive, they need to have their basic needs met. When needs go unmet, children’s opportunities are compromised. The Census Bureau estimates that 12.4 percent of children were living ...

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 ...

Our guest this week on The Prescription is Kimberly Clausing, who just finished a stint as deputy assistant secretary for tax analysis in the US Department of the Treasury. She’ll discuss her ...