After attempts to pass President Joe Biden’s Build Back Better agenda stalled in Congress, lawmakers in the latter part of 2022 enacted scaled-back legislation that increased taxes on large ...

A wealth tax is imposed on the value of some or all of a taxpayer’s assets, such as stocks, real estate, and businesses. At the federal level, the United States does not have a wealth tax, and many ...

Fines and fees can impose heavy burdens on those who come into contact with the criminal legal system. Using nationally representative data from the Urban Institute’s 2023 Well-Being and Basic Needs ...

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 ...

States rely heavily on gas taxes to pay for transportation construction and maintenance costs. In 2021, state motor fuel taxes generated about $50 billion in revenue. State and local motor fuel tax ...

Among OECD member countries, the United States is on the low end of taxes collected at all government levels—federal, state, and local—as a share of total economic activity or gross domestic product ...

Pervading the history and tax laws applying to foundations is a persistent suspicion of the wealthy and of concentrated power, while the battles between foundations and Congress largely center on who ...

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 temporary expansion of the child tax credit (CTC) in the American Rescue Plan delivered monthly payments to most families with children from July through December 2021. We use data from the Urban ...

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 ...

Each year, the Internal Revenue Services receives over 3 billion information returns, such as W-2s and 1099-INTs, from employers, banks, and other entities. The IRS also collects some data about ...