Taxes feature prominently within the Biden administration’s fiscal yr 2025 funds. They may proceed to be some extent of rivalry within the presidential election, with many components of the 2017 Tax Cuts and Jobs Act (TCJA) quickly set to run out. On the identical time, states and localities are confronting their very own tax and funds selections after three years of state tax cuts and amid broader post-COVID shifts as federal aid involves an finish.
Fortunately, the City-Brookings Tax Coverage Heart (TPC)’s up to date Briefing Book may also help you perceive the lay of the land on present tax and funds points and sustain with fast-moving proposals and reforms.
The Briefing Ebook is one in every of TPC’s hottest merchandise — learn and relied on by hundreds of thousands of scholars, journalists, staffers, and anybody else who needs to study extra about taxes and budgets. With practically 240 on-line pages, this yr’s replace incorporates a wealth of knowledge on how taxes determine into main financial and social coverage debates over the security web, well being care, housing, local weather change, schooling, immigration, and extra.
For instance, our pages reply questions together with:
Our newly up to date Briefing Ebook may also help you navigate latest tax coverage and administration adjustments (e.g., enhance within the IRS funds) and what we learn about their impacts to this point utilizing a mixture of details, evaluation, and insights. We additionally focus on the professionals and cons of potential income sources, akin to value-added taxes and carbon taxes, plus how they might impression tax administration and the nation’s fiscal outlook.
With this replace, we’ve got added practically 30 new entries, together with:
Within the coming months, we’ll replace the Briefing Ebook to account for the tax reforms outlined in President Biden’s fiscal year 2025 budget in addition to not too long ago launched wealth information, akin to from the 2022 Survey of Consumer Finances.
Are there different tax and funds insurance policies and practices we should always cowl? Please tell us what you suppose and proceed to examine our website and TaxVox for extra Briefing Ebook updates.