Tag: ‘carbon tax’

Could a Carbon Tax Finance Corporate Rate Cuts?

By :: April 23rd, 2015

How about using revenue from a carbon tax to help pay for corporate tax rate cuts? That’s the idea proposed yesterday by Rep. John Delaney (D-MD). His political calculation: Democrats would back the bill as a way to reduce carbon emissions and slow climate change. Republicans would support the plan to cut corporate tax rates […]

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On Some States of Business Taxation and a US Carbon Tax Swap

By :: April 23rd, 2015

In Nevada, the GOP governor’s $1 billion business tax hike wins support. The state senate passed Governor Brian Sandoval’s plan to shift the state’s flat $200 business license fee to a version of a gross receipts tax. According to the measure, which would raise nearly $1 billion over 2 years, the state’s largest firms would […]

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All's Fair in Love and Taxes... Or Not.

By :: January 8th, 2015

Et tu, Utah? GOP leaders want to increase the state’s gasoline tax. The state faces an $11 billion budget gap for transportation projects slated through 2040. Its House GOP caucus has endorsed an increase of as much as 10 cents a gallon in the state’s gasoline tax. They’re even willing to tie the tax to […]

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Cap and Trade Plans, Tax Deadlines, and Rate Drops

By :: January 5th, 2015

Washington Governor Jay Inslee proposes a statewide cap and trade program. The Democrat released details of his carbon pollution market program that would give the state’s Department of Ecology authority to set annual goals aimed at reducing emissions to half of 1990 levels. Inslee would extend the state’s sales tax exemption for alternative fuel vehicles, […]

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Votes and Consequences

By :: November 24th, 2014

With Congress away, the Daily Deduction will not publish for the rest of the week. We’ll be back as usual on Monday, December 1. Happy Thanksgiving!   In California, a tax increase breeds a budget battle and tuition hike. In 2012, Democratic Governor Jerry Brown successfully campaigned for reelection and Proposition 30: A tax increase […]

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

By :: November 21st, 2014

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 […]

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Liability, Math, and Budget Crunches

By :: November 13th, 2014

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 […]

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Havens Abroad, Shelters Ashore

By :: September 17th, 2014

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 […]

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Baskets of Billions, Inversions and Revenues

By :: July 22nd, 2014

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 […]

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A Ditch, an Add, and Maybe an End Run

By :: July 18th, 2014

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 […]

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