Explore comprehensive insights on tax policies, including their complexities, treatments, and impacts, in this detailed briefing book by the Tax Policy Center.

House and Senate Republicans are seeking to enact President Donald Trump’s tax agenda, which includes extending the expiring pieces of the 2017 Tax Cuts and Jobs Act (TCJA) and restoring TCJA business ...

Although prohibited under federal law, 21 states allow and levy some type of excise tax on recreational cannabis purchases. But different states use different taxes—percentage-of-price taxes, ...

Most low-income households do not pay federal income taxes, typically because they owe no tax (as their income is lower than the standard deduction) or because tax credits offset the tax they would ...

Research report Child Tax Credit Recipients Experienced a Larger Decline in Food Insecurity and a Similar Change in Employment as Nonrecipients Between 2020 and 2021 Michael Karpman, Elaine Maag, ...

Although the US tax code does not explicitly reference race or ethnicity, the federal income tax system contributes to racial disparities when factors that affect tax liabilities are correlated with ...

A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US ...

People who filed tax returns for either 2007 or 2008 qualified for “recovery rebates.” In total, the rebates lowered the average filer’s federal tax burdens by about 5 percent in 2008 (reducing the ...

Back to American Rescue Plan Act of 2021: Final Version as Passed by the Senate and House (March 2021) Model Estimate T21-0041 – All Major Provisions in H.R.1319, The American Rescue Plan Act of 2021, ...

Several provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) affecting individual income taxes are set to expire after 2025. Key among these expiring provisions are changes to the child tax credit ...

Image Model Estimates Type Distribution Tables by Income Percentile Primary topic Campaigns, Proposals, and Reforms Topics Current legislative proposals Child tax credit (CTC)/Child and dependent care ...

The federal government invests more than $500 billion annually in children through direct cash payments, including tax credits, and in-kind goods such as childcare, education, food subsidies, and ...