Proposals include providing more effective or more universal incentives for charitable giving, but often in exchange for some restrictions, such as providing incentives only above a dollar floor set ...

The charitable deduction subsidizes charitable giving by lowering the net cost to the donor. If the tax deduction spurs additional giving, charitable organizations can provide more services. A ...

The Inflation Reduction Act of 2022 introduced two new taxes on US corporations. The first is a minimum tax on the reported financial income of large US corporations. The second is an excise tax on ...

After attempts to pass President Joe Biden’s Build Back Better agenda stalled in Congress, lawmakers in the latter part of 2022 enacted scaled-back legislation that increased taxes on large ...

A wealth tax is imposed on the value of some or all of a taxpayer’s assets, such as stocks, real estate, and businesses. At the federal level, the United States does not have a wealth tax, and many ...

The debt limit—or the “debt ceiling”—is the legal maximum on how much debt the federal government can accumulate. The debt limit—or the “debt ceiling”—is the legal maximum on how much debt the federal ...

With large pieces of the 2017 Tax Cuts and Jobs Act (TCJA) set to expire in 2025, taxes will be a top priority for the next presidential administration and Congress. Vice President Kamala Harris, the ...

Overall, yes. But that’s not the case for each tax. The overall federal tax system is progressive, with total federal tax burdens a larger percentage of income for higher-income households than for ...