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Tax Foundation

  1. One of the most substantial changes in President Trump’s most recent tax plan is the elimination of many itemized deductions, including those for state and local taxes. This map shows the variation, by county, in the amounts of these deductions. The measurement used here is mean deduction amount taken per return: in other words, the […]
  2. Sales taxes are one of the largest sources of state and local tax revenue. On average, 23.3 percent of state and local tax revenues came from sales taxes in fiscal year 2014. Combined state and local sales tax rates vary across states, with combined rates ranging from 9.98 percent in Louisiana to 5.4 percent in […]
  3. Earlier today, Trump administration officials released a document with a set of proposed goals for an overhaul of the federal tax code: Changes to the Individual Income Tax Consolidates the current seven tax brackets into three, with rates on ordinary income of 10 percent, 25 percent, and 35 percent. The administration did not specify the […]
  4. Key Findings In 2016, at least 13 states and the District of Columbia considered proposals to exempt feminine hygiene products from the state sales tax. Ultimately, Connecticut, Illinois, New York, and the District of Columbia adopted the proposed exemptions. Ideally, sales tax should apply to all final consumer purchases, without regard for whether a product […]
  5. Spurred by some recent remarks from the Treasury Secretary, many tax policy analysts have been talking once again about how much economic growth can offset revenues lost from tax cuts. If a policy improves economic growth substantially, then it should increase tax revenue collections by increasing the incomes of individuals and corporations. One question I’ve […]

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