The Latest Breaking News from the Tax Foundation

Did Donald Trump impose ‘the largest tax hike in our lifetime’?

Tariffs act as a tax on imports, raising prices for consumers. They might be the highest since 1951.

Al Jazeera · Apr 8, 2025

Trump tariffs could help clear the way for bigger tax cuts as Congress eyes a potential revenue windfall — and a shrinking economy

Economists at Citi Research said in a note on Thursday that the aggressive tariffs "may now become a justification for larger tax cuts."

Fortune · Apr 5, 2025

Trump’s tariffs in numbers: The biggest losers amid escalating US trade war

As Donald Trump is unleashed a fresh slate of tariffs on so-called ‘Liberation Day’, data correspondent Alicja Hagopian examines which countries are most at risk from new tariffs on up to $3.3 trillion of goods.

The Independent UK · Apr 1, 2025

House GOP Bill Aims to Abolish the IRS and Rewrite the Tax Code

The stability of the IRS is crumbling as the U.S. presidency changes hands.

Kiplinger · Jan 14, 2025

The TCJA May Help Nonprofits Next Year: Here’s Why

A potential TCJA extension could help nonprofits. But is it enough to keep up with inflation?

Kiplinger · Dec 30, 2024

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 · Dec 11, 2024

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 · Dec 9, 2024

Cigarette Taxes and Regulations Continue To Fuel a Thriving Black Market

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

Reason · Dec 6, 2024

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

Here's how expiring tax cuts could affect you.

Reason · Dec 2, 2024

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 · Nov 8, 2024