BRUSSELS — As global economies grapple with the rapid digitalization of commerce, governments are scrambling to capture tax revenues from companies that operate across borders without a physical footprint. In Belgium, a major legislative push is underway to adapt the nation’s corporate income tax (CIT) framework to the realities of the modern digital economy. However,…
By Daniel Bunn President and CEO, Tax Foundation The global economic community recently lost a true visionary and pioneer of tax reform. Siim Kallas—the former Estonian Prime Minister, European Commissioner, and the intellectual architect behind the policies that catapulted Estonia’s economy into the modern era—passed away on August 22 at the age of 77. In…
WASHINGTON — As annual federal budget deficits approach an alarming $2urillion threshold, lawmakers in Washington are increasingly looking toward the federal tax code to generate revenue and stabilize the national debt. Amid this fiscal pressure, the Tax Foundation has released its flagship resource, Options for Reforming America’s Tax Code 3.0: A Policymaker’s Guide to Tax…
Main Facts A decade has passed since House Speaker Paul Ryan and Ways and Means Committee Chairman Kevin Brady unveiled the "Better Way" tax reform blueprint—a sweeping legislative framework that laid the intellectual and structural groundwork for the Tax Cuts and Jobs Act (TCJA) of 2017. As the most comprehensive overhaul of the United States…
WASHINGTON – A powerful coalition of consumer, community, and civil rights organizations has launched a coordinated campaign to derail the "CFPB Reform Act of 2026," a legislative discussion draft currently circulating in the House Financial Services Committee. Critics of the proposal warn that the bill represents a systematic attempt to dismantle the Consumer Financial Protection…
As geopolitical tensions in the Persian Gulf continue to roil international energy markets, the global economy stands at a precarious juncture. Policymakers across the developed world are finding themselves in a classic "policy trap": they must stimulate economic momentum to combat cooling growth while simultaneously addressing the looming specter of record-high public indebtedness. With aging…
WASHINGTON — As American households grapple with the persistent pressures of inflation, rising rent, and stagnant wage growth, the House Financial Services Committee is poised to deliberate on a package of four legislative measures that critics argue could fundamentally undermine consumer protections. Scheduled for a markup session this Tuesday, the bills have ignited a firestorm…
In the shifting landscape of British political economy, Reform UK has introduced a bold, populist proposition: the total exemption of overtime pay from income tax for those earning under £75,000. Framed as a “hard work bonus,” the policy is designed to put more money into the pockets of the working class, incentivize increased productivity, and…
Introduction: A Tax System Out of Sync with the Digital Age For over a century, the bedrock of international taxation has been the principle of "physical presence." Multinational corporations generally pay corporate income tax (CIT) in jurisdictions where they maintain a physical footprint—factories, offices, or warehouses. However, the rise of the digital economy has rendered…
STAMFORD, Conn. — In a move signaling the conclusion of a rigorous period of regulatory oversight, the Office of the Comptroller of the Currency (OCC) has officially terminated its enforcement action against Patriot Bank. The decision, announced Tuesday, brings to an end an 18-month chapter of intensive restructuring and compliance remediation for the Stamford-based institution….
