The Disparate State Impacts and Enormous Cost of a Gas Tax Holiday
Legislative interest in suspending the federal gas tax in response to high fuel prices gained support recently when President Trump told a reporter, “I think it’s a great idea.”
Legislative interest in suspending the federal gas tax in response to high fuel prices gained support recently when President Trump told a reporter, “I think it’s a great idea.”
In a recent episode of The Concord Coalition’s Facing the Future podcast, Alex Brill discussed with host, Bob Bixby, the evolving landscape of U.S. tax policy and what it signals for the federal budget—and investors.
Senator Cory Booker (D-NJ) recently proposed a bold tax plan that includes drastically increasing the standard deduction from $16,100 to $37,500 for single filers ($32,200 to $75,000 for married couples filing jointly).
Much ink has been spilled either criticizing or praising the bipartisan, bicameral Wyden-Smith tax deal. The bill makes many retroactive and mostly temporary changes, when sound tax policy should generally be prospective and permanent.
In 2020, Americans’ individual charitable giving reached $324 billion, a record high and a 2.2 percent increase from 2019. While the pandemic imposed great costs on our society, many households shared their resources with others, including religious, educational, and human service organizations.