OTTAWA — In a major policy shift aimed at cementing the nation’s status as a premier destination for corporate investment, the Government of Canada has officially announced the permanent adoption of full expensing for machinery, equipment, and patent rights. Unveiled on September 15 by Minister of Finance and National Revenue François-Philippe Champagne, the initiative—dubbed the…
WASHINGTON — The daily average interest rate on the benchmark 30-year fixed-rate mortgage dipped below the critical 7% threshold on Tuesday morning, settling at 6.97% APR, according to data provided to financial analysts by Zillow. While a sub-7% average may catch the eye of prospective homebuyers and those eyeing a refinance, financial experts emphasize that…
WASHINGTON — As policymakers look toward the expiration of major tax provisions at the end of the decade, a newly released modeling report from the Tax Foundation casts a critical eye on a popular suite of targeted tax breaks. The publication, titled Options for Reforming America’s Tax Code 3.0: A Policymaker’s Guide to Tax Reform…
As the autumn air turns crisp and the spooky season takes hold, millions of consumers brace themselves for the traditional "spending scaries"—that dreaded period of increased expenses during the costly final months of the year. Yet, for a significant portion of the American populace, financial anxiety is not a seasonal phenomenon; it is a chronic,…
Negotiations between sovereign governments have long relied on traditional levers of economic statecraft—sanctions, tariffs, and monetary controls—to alter the behavior of counterparties or force strategic compromises. Until recently, domestic tax policy remained strictly within the realm of internal revenue generation, insulated from the gritty mechanics of geopolitical coercion. That bright-line distinction shattered in 2025. The…
As traditional cigarette consumption continues a decades-long, public-health-driven decline, state budgets face an impending fiscal reckoning. For generations, tobacco excise taxes served as a reliable, highly lucrative stream of revenue for local governments. But as smokers successfully stub out traditional cigarettes in favor of non-combustible alternatives, states are experiencing a profound revenue crater. Enter oral…
By Daniel Bunn, President and CEO of the Tax Foundation Main Facts Passed in the wake of sweeping legislative battles during President Trump’s second term, the One Big Beautiful Bill Act (OBBBA) stands indisputably as the most consequential piece of economic policy of the current administration. Within its massive framework, which overhauled large swaths of…
Main Facts For generations, the golden rule of personal finance has been simple and uncompromising: save diligently, build a formidable nest egg, and ensure you never outlive your money. Financial planning has historically prioritized accumulation, viewing a hefty inheritance left to children or charities as the ultimate hallmark of a successful life. However, a cultural…
As billions of dollars in capital pour into artificial intelligence (AI) infrastructure across the United States, lawmakers in Washington and state capitals are increasingly looking for ways to capture revenue from the boom. While some tax proposals focus broadly on high earners and corporate giants, others target the narrow machinery of the AI revolution itself—such…
Main Facts: The 7% Reality Check For prospective homebuyers, homeowners considering a refinance, and real estate market observers alike, a psychological and financial barrier has officially been breached. The average interest rate on the benchmark 30-year, fixed-rate mortgage has climbed to 7.09% APR, according to housing data provided to NerdWallet by Zillow. This latest figure…
