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Our estimates illustrate that Trump’s proposed tariffs threaten to offset the economic benefits of his proposed tax policy changes, while falling short of offsetting the tax revenue losses. [...]
On tax policy, Harris carries forward much of President Biden’s FY 2025 budget, including higher taxes aimed at businesses and high earners. She would also further expand the child tax credit (CTC) and various other tax credits and incentives while exempting tips from income tax. [...]
The flawed design of these windfall profits taxes has created problems in countries that implemented them. [...]
Rather than pursuing temporary policies, policymakers should implement long-term, pro-growth tax reforms that stimulate economic activity and incentivize energy diversification by supporting private investment through full expensing. [...]
Utah is the only state to earmark the entirety of one of its major taxes, but a measure on the ballot this November might change that. [...]
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