This workforce shortage problem is easy to observe, but solutions are harder to come by. State-level policy changes, as opposed to federal policy levers may be more efficient, given the disparate geographic impact of the shortage.
Using data from the Department of Education’s Federal Student Loan Portfolio and the 2019 Survey of Consumer Finances, we examine the effects of forgiveness on borrowers’ 2022 state tax liabilities.
For those residing in a handful of states, their state income tax bills might be several hundred dollars higher, and their state coffers several hundred million dollars richer.
As lawmakers consider making charitable tax benefits available to all taxpayers, they should focus on policy design that increases charitable contributions efficiently.
The Biden administration and Democratic lawmakers in Congress are now considering proposals to raise the tax burden on corporations in the United States.
The $1.9 trillion American Rescue Plan provides economic relief to households through the tax code. We have created a web application to help users explore how ARP will impact their 2021 federal tax liability.
To supplement our analysis of Biden’s tax proposals, we have created a web application that allows users to explore how Biden’s tax plan would impact their federal tax liability.