States rely heavily on gas taxes to pay for transportation construction and maintenance costs. In 2021, state motor fuel taxes generated about $50 billion in revenue. State and local motor fuel tax ...

State tax revenue trends in the third quarter of 2024 and for the first half of fiscal year 2025 reveal a complex and variable fiscal environment. While some tax streams showed gains, broader patterns ...

TPC estimates that extending expiring provisions of the TCJA would slightly boost GDP in the short term by about 0.4 percent, on average, from 2026 through 2034. But over time, these benefits would ...

Before the 2017 Tax Cuts and Jobs Act (TCJA), the individual alternative minimum tax (AMT) primarily affected well-off households, but not those with the very highest incomes. It was also more likely ...

The 2017 Tax Cuts and Jobs Act discouraged charitable giving by reducing the number of taxpayers claiming a deduction for charitable giving and by reducing the tax saving for each dollar donated. The ...

Taxpayers who itemize deductions on their federal income tax returns can deduct state and local taxes--specifically property taxes plus either income taxes or general sales taxes. However, the Tax ...

T24-0040 - Tax Units with a Tax Increase or Tax Cut from Making Certain Individual Income, Payroll, and Estate Tax Provisions in 2017 Tax Act Permanent, by ECI Level, 2026 ...

The federal government distributes grants to states and localities for many purposes. Some grants are delivered directly to these governments, but others are “pass-through” grants that first go to ...

State and local governments collected a combined $4.1 trillion of general revenues in fiscal year 2021, from a mix of income taxes, sales taxes, property taxes, charges for specific government ...

Income inequality has increased sharply over the past 40 years. A simple way to measure inequality is by looking at the share of income received by the highest-income people. Using a broad measure ...

The tax expenditure budget displays the estimated revenue losses from special exclusions, exemptions, deductions, credits, deferrals, and preferential tax rates in federal income tax law. Every year, ...

A small number of colleges and universities in the United States have accumulated significant wealth in the form of endowments. Because these institutions are public and private nonprofit charitable ...