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 ...

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 ...

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 ...

The 2008 and 2009 tax acts provided large temporary tax cuts to most households, with the goal of helping the economy recover from the Great Recession. The 2010 tax act extended specific provisions of ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...