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The Latest Breaking News from the Tax Foundation

Trump, the Self-Described 'Tariff Man,' Does Not Understand How Tariffs Work

Since the president-elect refuses to admit that levies on imports are taxes paid by Americans, he sees no downside to raising them.

Reason

States Without Legal Cannabis Are Missing Out On Billions In Annual Tax Revenue, New Analysis Shows

Cannabis tax revenue is transforming state economies, with over $19 billion raised so far. States like California and Colorado direct cannabis tax revenue to education.

Benzinga

Cigarette Taxes and Regulations Continue To Fuel a Thriving Black Market

Burdensome taxes and red tape produce the same results as outright prohibitions.

Reason

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read the most diverse news in one place.

A Taxpocalypse of Rising Rates Is Coming For Americans if Congress Doesn't Act

Here's how expiring tax cuts could affect you.

Reason

From higher tariffs to lower taxes, will Donald Trump’s economic plan pay off?

There is a strong chance of the president-elect’s radical strategy going wrong, with a high risk of rising prices, inflation and interest ratesBusiness live – latest updates

The Guardian - UK

Georgia measure would cap increases in homes' taxable value to curb higher property taxes

Georgia voters unhappy about rising property tax bills could limit how much of a home’s increasing value can be taxed

The Independent UK

Economists say inflation likely higher under Trump than Harris

For economists wary about prices under a Trump presidency, the Republican nominee’s tariff plans loom large.

Fortune

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Best States to Buy Chocolate Candy Tax-Free

There’s something spooky this Halloween and it’s not just the ghouls. Find out if your state’s sales tax takes a bite out of sweet savings.

Kiplinger

Trump's Destructive Tariff Proposals Will Make Us All Poorer

The candidate’s protectionism offsets some otherwise positive tax ideas.

Reason

Instead of Vote-Buying Tax Promises, Let's Have Real Plans for Tax Relief

Lower taxes are better taxes, but they should be part of well-considered plans.

Reason

How Much Will the Major Presidential Candidates Steal From You?

Neither Harris nor Trump has a plan to address national debt, but they dramatically differ on taxation.

Reason

Trump and Harris Both Favor Tax Hikes That Would Hurt Ordinary Americans

The costs of steep tariffs and a higher corporate income tax extend far beyond the advertised targets.

Reason

Will North Dakota Property Tax Be Eliminated?

A new property tax proposal will be a key ballot item for the Peace Garden State.

Kiplinger

How Trump and Harris Might Handle Expiring TCJA Tax Cuts

Many key provisions of the TCJA will expire soon. Here’s why it matters during the 2024 election cycle.

Kiplinger

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news in one place.

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Kiplinger

Tariffs: What They Are and How They Impact Your Wallet

Raising tariffs on all foreign goods, a tax hike that some call a “national sales tax,” could be costly to U.S. households.

Roll Call

Fact-checking Day 2 of the Democratic National Convention - Roll Call

Fact checking the second night of the 2024 Democratic National Convention

Salon

Experts: "No tax on tips" is a bad idea

Trump and Harris agree that tips shouldn't be taxed. Economists agree that won't help much — and could backfire

Latin Times

Economists put massive price tag on tax policy that Trump and Harris are both championing

Experts have deemed the proposal inefficient, while a recent study concluded that only 2.5% of workers would benefit from such a policy

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The Independent UK

Trump and Harris now both advocate no tax on tips — but what are the potential pitfalls?

No tax on tips is a catchy slogan but how would it work in practice?

InsideEVs

Why Biden’s Chinese EV Tariffs May Succeed Where Trump’s Failed, For Now

The new tariffs could be great for the U.S. auto industry. The risk is automakers will use them as an excuse to slow-walk their EV plans.

Reason

Brace for Big Tax Hikes in 2026 Unless Congress Acts

The Tax Cuts and Jobs Act expires at the end of 2025, with a high price tag for most Americans.

Reason

This Tax Week, Remember That the Federal Income Tax Is Relatively New

There are many pervasive myths about the U.S. tax code. Here are a few.

Reason

Poll: Americans Don't Think All This Government Is Worth What We Pay for It

The situation is more dire when you consider how much federal spending is financed by debt.

Roll Call

Supreme Court to weigh 2017 tax on overseas earnings

A dispute over a roughly $15,000 tax bill could shape the future of the U.S. tax system in a case set for Supreme Court oral argument Tuesday.

Reason

Americans Are Still Fleeing High-Tax States

Lower taxes create opportunities that draw even those not consciously considering tax rates.

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Michelle Lujan Grisham

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