GOP presidential candidate Donald Trump’s tariffs would raise $2.8 trillion over 10 years, but even that would fall far short of paying for his ideas.

TPC: Those making over $430,000 get most of the benefit of a SALT cap repeal.

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

Unemployment insurance assists workers who become involuntarily unemployed and meet specified eligibility requirements. Unemployment insurance programs are run as federal-state partnerships financed ...

The federal government distributes grants to states and localities for many purposes. Some grants are delivered directly to these governments, but others are “pass-through” grants that first go to ...

Rainy day funds, also known as budget stabilization funds, allow states to set aside surplus revenue for use during unexpected deficits. Every state has some type of rainy day fund, though deposit and ...

Severance taxes are taxes on the extraction of natural resources such as oil and natural gas. State and local governments collected a combined $11.8 billion in revenue from severance taxes in 2021.

Tax expenditures make up a substantial part of the federal budget. Some of them are larger than the entire budgets of the programs or departments that spend money for the same or related purposes. For ...

Many preferences in the tax code phase out for high-income taxpayers—their value falls as income rises. Phaseouts target tax benefits to low- and middle-income households while limiting revenue costs, ...

At current tax rates, the direct revenue loss from cutting tax rates almost always exceeds the indirect gain from increased activity or reduced tax avoidance. Cutting tax rates can, however, partly ...

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 ...