This event, hosted by the Urban Institute in collaboration with the Comptroller of Maryland, will serve as a capstone to the ...

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 ...

The Tax Policy Center regularly produces tables showing the distribution of income and federal taxes, effective and marginal tax rates, and other measures of federal taxes. Other tables show estimates ...

Taxpayers who itemize deductions on their federal income tax returns can deduct state and local taxes--specifically property taxes plus either income taxes or general sales taxes. However, the Tax ...

Corporations and individual taxpayers can deduct charitable contributions to 501(c)(3) organizations. Many nonprofit institutions are exempt from paying federal income tax, but taxpayers may deduct ...

In 2022’s Inflation Reduction Act (IRA), Congress provided the IRS with additional funding of nearly $80 billion through 2031. Nine months later, however, Congress and the White House agreed to reduce ...

Income inequality has increased sharply over the past 40 years. A simple way to measure inequality is by looking at the share of income received by the highest-income people. Using a broad measure ...

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 ...

The US corporate income tax rate is now lower than the top rate in all other leading economies except for the United Kingdom. Corporate income tax revenues in the United States as a share of gross ...

Balanced budget requirements (BBRs) are constitutional or statutory rules that generally prohibit states from spending more than they collect in revenue in a fiscal year. However, these state rules ...

Tax expenditures for retirement savings are very large. They were over $300 billion in 2022 and will likely exceed $2 trillion over the 2022-2026 period. Tax expenditures are revenue losses ...

The Tax Cuts and Jobs Act made significant changes to individual income taxes and the estate tax. Almost all these provisions expire after 2025. The Tax Cuts and Jobs Act (TCJA) made substantial ...