Tax Foundation

1. Coronavirus Assistance for American Families Act Would Provide More Generous Rebates for Dependents

   On Thursday, U.S. Senators Marco Rubio (R-FL), Bill Cassidy (R-LA), Steve Daines (R-MT), and Mitt Romney (R-UT) released the Coronavirus Assistance for American Families Act (CAAF), which would provide payments of $1,000 to adults and children with Social Security numbers, subject to income limits used in the original round of rebates. Among other modifications, it would be more generous to households and families with children when compared to the original rebates distributed under the CARES Act.

2. Brazil has the Opportunity to Implement a Simple Consumption Tax and Foster Tax Progressivity at the Same Time

   Brazil has one of the world’s most complex tax systems. Brazil has the opportunity to implement a simple consumption tax and foster tax progressivity at the same time.

3. State Income and Sales Tax Revenues Slide in Second Quarter

   Today marked the release of second-quarter GDP data and provides a new glimpse into early changes in state and local revenues and spending. All told, second-quarter state and local tax receipts came in about 3.8 percent lower than they did in the same quarter a year ago. Income and sales taxes fell considerably while property and excise tax collections remained stable.

4. Details and Analysis of The CREATE JOBS Act

   Senators Ted Cruz and Martha McSally introduced the CREATE JOBS Act that would make two significant changes to incentivize investment in the United States.

5. Estate, Inheritance, and Gift Taxes in Europe

   Inheritance tax dates back to the Roman Empire, which collected 5 percent of inherited property in order to pay soldiers’ pensions. Today, the practice is widespread. The majority of European countries covered in today’s map currently levy estate, inheritance, or gift taxes. These countries are Belgium, Bulgaria, the Czech Republic, Denmark, Finland, France, Germany, Greece, […]