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

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 ...

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 ...

Lawmakers can control all spending except the interest due on government debts. However, discretionary spending often gets more scrutiny than mandatory spending or tax breaks that function much like ...

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 ...

The United States imposes a tax on the profits of US resident corporations at a rate of 21 percent (reduced from 35 percent by the 2017 Tax Cuts and Jobs Act). The corporate income tax raised $424.7 ...

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 ...

A property tax is a tax levied on the value of "real property" (land and buildings, both residential and commercial) or personal property (business equipment, inventories, and noncommercial motor ...

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 Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) estimate the budgetary effects of tax, spending, and regulatory legislation. The resulting “scores” play a major role in ...

The Tax Cuts and Jobs Act (2017) nearly doubled the standard deduction and eliminated or restricted many itemized deductions in 2018 through 2025. It also eliminated the “Pease” limitation on itemized ...

The fiscal response to the COVID-19 pandemic included a total of about $5.6 trillion in federal tax cuts and spending hikes. Those policies helped increase the federal debt from 79 percent of GDP in ...