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July 23, 2024

How the 2017 Tax Law Made Itemized Charitable Giving a Luxury Good

Key Points This report examines the effect of itemized charitable giving, as tracked by the IRS, following the enactment of the Tax Cuts and Jobs Act of 2017. It finds…

January 11, 2024

Tax Credit Nation — Politicians Are Casting New Spending As ‘Tax Cuts,’ Hiding Their True Cost

With the national debt soaring past $34 trillion, liberal politicians hoping to expand the federal leviathan face a conundrum. How can they convince Americans wary of the effects of runaway…

January 10, 2024

Even Congress’s “Tax Extenders” Are About More Benefits

Congress’s long list of unfinished business for the new year includes “tax extender” legislation, which is normally considered before lawmakers adjourn for the holidays in December. The fact that this…

November 14, 2023

The Impact of Opportunity Zones on Private Investment and Economic Activity

Abstract Place-based policies aim to stimulate economic development in disadvantaged areas with the goal of improving the well-being of residents. A provision of the Tax Cuts and Jobs Act aimed…

November 13, 2023

How The IRS Discourages Boomer Charity

Americans like to call ourselves the most generous nation on earth — but charitable giving is on the decline. In 2022, it fell 3.4% (10.5% when adjusted for inflation) to fall…

October 23, 2023

A Carbon Tax to Finance Child Tax Credit Expansion

A carbon tax is considered by most economists to be the most efficient and effective way to reduce carbon emissions. However, a long-standing political challenge to a carbon tax is…

September 26, 2023

The Gas Tax Should Not Be Eliminated

Last week, Republican Presidential candidate and former Governor Nikki Haley (R-SC) released an economic plan that would eliminate the federal excise taxes on gas and diesel. Her goal is to “help families…

September 19, 2023

Senator Tim Scott’s New Plan to Cut Taxes

Senator and Republican presidential candidate Tim Scott (R-SC) released a new economic plan this week. The plan addresses issues such as the national debt, federal spending, trade, and the economy. The plan…

June 8, 2023

Flawed Approach: The Working Families Tax Cut Act as a Response to Inflation

Earlier this week, Congresswomen Nicole Malliotakis (R-NY) and Michelle Steel (R-CA), who are both members of the House Committee on Ways and Means, introduced the Working Families Tax Cut Act. The bill would temporarily…

May 23, 2023

Will Biden Cross a Line on Poverty?

A new report from the National Academy of Sciences seeks to redefine poverty. The NAS presents the effort as a matter of science: “An accurate measure of poverty is necessary to fully…