Posts Tagged ‘carbon tax’

Bigger, Cleaner, and More Efficient: A Carbon-Corporate Tax Swap

The Cato Institute has organized an online forum to debate pro-growth economic policy reforms. Tax Policy Center scholars Bill Gale, Donald Marron, and Eric Toder have each contributed to the discussion. The United States could reduce its contribution to global climate change and increase domestic prosperity by taxing emissions of carbon dioxide and other greenhouse […]

Liability, Math, and Budget Crunches

Can a state tax all of the income of its residents, wherever it is earned? The US Supreme Court heard oral arguments yesterday in Comptroller v. Wynne. A decision will answer whether residents of one state are liable for taxes on income earned in another state, even if that income has already been taxed. If […]

Havens Abroad, Shelters Ashore

No more tax havens abroad? The Organization for Economic Cooperation and Development released its plan to limit corporate tax avoidance. All 34 OECD members plus 10 other countries including China and Russia have approved the proposals, though each nation must still implement them. The recommendations are designed to “ensure the coherence of corporate income taxation […]

Baskets of Billions, Inversions and Revenues

Did banks help a hedge fund avoid $6.8 billion in US taxes? Yes, according to the Senate Homeland Security and Government Affairs panel’s Permanent Subcommittee on Investigations. Its report, released in advance of this morning’s hearing, argues that “basket option structures” were designed to conceal two things: the true ownership of sets of assets; and […]

A Ditch, an Add, and Maybe an End Run

Australia repeals its two-year-old carbon tax. It’s been a contentious issue for seven years. Australia is one of the biggest producers of carbon emissions per capita. Its government is committed to reducing emissions to 5 percent below year 2000 levels  by 2020. A carbon tax might have been the most expedient method to accomplish that […]

Games, Spins, Ignorance and Patience

Congress keeps playing with the Highway Trust Fund—but why? The House Ways & Means Committee approved its effort to fund the Highway Trust Fund through May, 2015. To reach a bipartisan deal, the Senate Finance Committee ultimately took a slightly different approach in a $10.8 billion proposal to finance roads and transit. Both convoluted short-term patches […]

Tax Changes for Highways, Delays and Missing Links

The Senate Finance Committee takes their turn as “The Highway Men.” They’ll consider tax changes for more highway funds tomorrow with Chairman Ron Wyden’s bill to keep the Highway Trust Fund solvent through the end of the year. The plan would raise $9 billion in tax revenue over ten years. Tax code changes include: doubling […]

In the Midwest, Across the Pacific, and Down Under

Looks like there’ll be tax cuts in Ohio. The state’s legislature has produced a compromise bill that heads to Republican Governor John Kasich’s desk this week. Ohio had passed a 10-percent across-the-board income tax cut last year that was to be phased in by 2015. The compromise bill will make the tax reduction fully effective this year, […]

EPA Regulations, International Taxation and Hitting the Sweet Spot

Will the EPA’s proposal to curb greenhouse gas emissions allow state-based carbon taxes? The new regulations would give states broad flexibility to require power plants to meet tough emissions standards, including creating new cap-and-trade systems. But the 645-page proposal never uses the word “tax.” The OECD wants to improve international taxation. The Organization for Economic […]

Tax Relief, Hikes, and Incentives

DC residents will likely see tax cuts—the largest in 15 years. The DC Council voted yesterday to support $165 million in tax cuts, a plan based in part on recommendations made by the DC Tax Revision Commission. Tax burdens for low- and middle-income residents would decrease in January. For four years after, businesses, residents earning […]