Renting a Car? Half Your Bill May Be Taxes and Fees
Rental car transactions are among the most heavily taxed purchases in the United States, with a median state tax above 11 percent. In high‑tax jurisdictions such as Minnesota, Colorado and New York, the combined state and local levy tops 20 percent on a standard rental. When city taxes and airport concession fees are added, the total burden exceeds 50 percent in five major metros, reaching a staggering 63.8 percent (about $159 on a $250 rental) in Newark, New Jersey. The analysis shows that both tax structures and airport fees drive up costs for travelers and local businesses alike.
Minnesota Should Learn From Europe: Wealth Taxes Are a Failed Experiment
Minnesota’s House introduced HF 4616, a state‑level wealth tax that would impose a 1 % levy on individuals and trusts with taxable assets above $10 million starting in 2026. The Department of Revenue projects the tax could generate about $290 million annually from...
Digital Services Taxes in Europe, 2026
The OECD’s Pillar One proposal aims to shift a share of multinational profits to the jurisdictions where users reside, threatening the survival of many European digital services taxes (DSTs). As of April 2026, roughly half of OECD‑member European countries have implemented,...
Can Tax Reform Solve the Debt Problem—Or Just Slow It?
The Congressional Budget Office projects that publicly held U.S. debt will reach a record 175% of GDP by 2056, with deficits climbing to 9.1% of GDP. While revenues will rise modestly, spending—especially on Social Security, Medicare, and interest—will outpace growth,...
Oklahoma Proposes a More Principled Tax on Moist Snuff Tobacco
Oklahoma lawmakers introduced HB 3983 to replace the current 60 percent ad valorem tax on moist snuff tobacco with a specific weight‑based levy of $1.72 per ounce. The proposal aims to create a more neutral, predictable tax structure that does not fluctuate...
Americans Are Moving to States with Lower Taxes and Sound Tax Structures
The IRS’s 2022‑2023 migration data shows millions of Americans shifting from high‑tax states to lower‑tax jurisdictions. Texas (+56,473 filers) and Florida (+55,349) led the inbound wave, while California (‑100,397) and New York (‑71,987) saw the largest outflows. Net adjusted gross income...
Hochul’s Pied-À-Terre Tax: One More Bad Option to Close NYC Budget Gap
Governor Kathy Hochul has introduced an annual "pied‑à‑terre" surcharge on New York City second homes valued above $5 million, positioning it as a new revenue stream to address the city’s $12 billion two‑year budget shortfall. The proposal follows Mayor Zohran Mamdani’s earlier call for...
Windfall Profits Taxes on Oil and Gas Should Be Left in the Past
Five EU member states are urging the European Commission to revive a windfall‑profits levy on oil and gas firms, echoing the 2022 “solidarity contribution.” The original EU‑wide tax collected roughly €26 billion ($28 billion) in 2022‑23 but covered only a fraction of...
After Pandemic Relief Ended, CBO Shows Federal Taxes Remained Progressive in 2022
The Congressional Budget Office’s 2022 income distribution report shows the federal tax and transfer system stayed progressive after pandemic relief expired. Household after‑tax income growth slowed, driven by the loss of recovery rebates, expanded unemployment benefits, and the temporary child‑tax‑credit...
Yes, the California Wealth Tax Could Tax Voting Interests
California’s proposed wealth tax could base liability on founders’ voting interests rather than pure economic ownership, sparking alarm over super‑voting shares. The ballot language treats any interest that confers voting or control rights as a valuation floor, meaning founders may...
Testimony: The Impact of the 2025 Reconciliation Law’s Tax Changes on Small Businesses and Lessons for Future Tax Reform
The 2025 reconciliation law cemented key TCJA provisions, making the 20% Section 199A deduction, permanent lower individual tax brackets, 100% bonus depreciation, and full R&D expensing permanent for small businesses. It also doubled the Section 179 expensing limit to $2.5 million and restored...
Tariffs by Another Name: How Discriminatory Taxes on Cross-Border Services Threaten America’s Export Edge
Cross‑border services are increasingly subject to discriminatory taxes that function like tariffs, undermining the United States’ export advantage. The paper highlights three case studies—the UN’s proposed withholding tax framework, European digital services taxes, and the U.S. base erosion and anti‑abuse...
American Compass’s “Tariff Tally” Doesn’t Add Up
American Compass’s "Tariff Tally" claims that Trump‑era tariffs modestly raise prices, boost manufacturing demand, spur investment, and lift growth. Independent research shows tariffs largely passed through to import prices (86‑95%), added about 0.76 percentage points to headline inflation, and produced mixed...
Remote Work and State Taxes: What You Need to Know
The Tax Foundation’s Katherine Loughead explained that 22 states technically require a tax return even for a single hour of work, such as babysitting, highlighting the tangled web of non‑resident income‑tax rules. The discussion, hosted on The Deduction podcast, focused...
The OBBBA Improved the Treatment of Investment—But There’s Still Work to Do
The One Big Beautiful Bill Act (OBBBA) makes key expensing provisions permanent, allowing companies to immediately write off equipment, machinery, and domestic R&D costs. It also expands Section 179 for small businesses and adds a temporary expensing rule for new manufacturing...