Tax Cuts Causing the Worst Revenue Projections Since Consensus ...

Due in large part to recent tax cuts, they will do so with the worst projected revenue growth since the state established the modern consensus ...

The Trump Tax Cuts Led to Record-Low, Not High, Revenues ...

The tax legislation that President Donald Trump signed in December 2017 significantly reduced federal revenues, with the largest tax cuts going to the richest ...

Slashing Tax Rates and Cutting Loopholes - Cato Institute

Options for Tax Reform in the 119th Congress. Congress has an unprecedented opportunity to cut tax rates to their lowest level in almost a ...

How a Pandemic-Era Surge in Tax Collections Drove a Revenue ...

Hawaii, which relies heavily on tourism and hospitality, had the hardest fall, collecting $1.4 billion less in fiscal 2020 than in fiscal 2019.

Tax Reform – How the 2025 Budget Outlook Differs From 2017

At the end of 2025, major individual tax cuts from the 2017 Tax Cuts and Jobs Act (TCJA) expire. As this date approaches, many…

Tax Cuts Are Still on the Agenda Even as Revenues Slow

State revenue growth is slowing—especially when compared with the past three years. But that didn't deter state policymakers from enacting ...

Tax Cuts Don't Pay For Themselves

At worst, they may lose more revenue. As referred to above, CBO evaluated the potential impact of a 10 percent cut in individual marginal tax ...

Despite CBO's Predictions, Trump Tax Cuts Were a Boon for ...

... economic growth and federal revenues, it provided major benefits to working families. The officially reported poverty level fell to its lowest ...

Federal Revenues After the 2017 Tax Cuts | CEA - The White House

This blog post considers the effect of lower tax revenues on both the 2023 deficit and on deficits dating back to the enactment of the 2017 Tax Cuts and Jobs ...

Analysis Archives - Page 23 of 80 - Kentucky Center for Economic ...

Tax Cuts Causing the Worst Revenue Projections Since Consensus Forecasting Began. Next week, Governor Beshear will present his state budget proposal to the ...

Tax Cuts Are Primarily Responsible for the Increasing Debt Ratio

Without the Bush and Trump tax cuts, debt as a percentage of the economy would be declining permanently.

Frequently Asked Questions about the Tax Cuts and Jobs Act

The lowest-income half of taxpayers pay 2.3 percent of income tax collections. Because of this imbalance in who pays the majority of the tax ...

Trump's Spin on Tax Cuts Raising Revenues - FactCheck.org

Former President Donald Trump is proposing to lower the federal corporate tax rate to 15%, insisting that when he lowered it to 21% starting in 2018, revenues ...

2024 State Business Tax Climate Index - Tax Foundation

Indiana and Utah, for example, levy all the major tax types but do so with low rates on broad bases. The 10 lowest-ranked, or worst, states in this year's Index ...

The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and ...

As a share of after-tax income, tax cuts at the top ... Belvedere, “Mnuchin: GOP Tax Reform Would Give Small Business Owners the Lowest ...

economic consequences of major tax cuts for the rich | Oxford

We find tax cuts for the rich lead to higher income inequality in both the short- and medium-term. In contrast, such reforms do not have any significant effect ...

Lessons from the Biggest Business Tax Cut in US History

At that time, the United States had the second-lowest corporate rate among the group of comparison countries shown in Figure 1. Between 1988 and 2017, every ...

An Update to the Budget and Economic Outlook: 2024 to 2034

The federal budget deficit in fiscal year 2024 is $1.9 trillion. Adjusted to exclude the effects of shifts in the timing of certain payments, the deficit ...

Economic Growth Through Tax Cuts - Brookings Institution

We conclude that the combination of a short-term budget surplus, a strong economy, and a tax system that is imposing the lowest rates for most households in ...

January 2018 Economic Review and Revenue Forecast Update

... lowest level since. December of 2000. If U.S. unemployment reaches 3.7% in 2019, as currently forecast, it would be the lowest level in 48 years ...