Exempting overtime would unnecessarily complicate the tax code, increase compliance and administrative costs, and reduce neutrality by favoring certain work arrangements over others.| Tax Foundation
Contrary to President Trump’s claims, Americans will bear the costs of the next trade war in the form of lower incomes as tariffs cause prices of imported goods to rise.| Tax Foundation
The tariffs amount to an average tax increase of nearly $1,200 per US household in 2025.| Tax Foundation
The Trump administration has imposed $42 billion worth of new taxes on Americans by levying tariffs on thousands of products. Tariffs are taxes.| Tax Foundation
The Trump administration appears to be moving in a “reciprocal” policy direction despite the significant negative economic consequences for American consumers of across-the-board tariffs on goods coming into the US. However, the EU’s VAT system should not be used as a justification for retaliatory tariffs.| Tax Foundation
President-elect Trump may want to impose tariffs to encourage investment and work, but his strategy will backfire. Tariffs will certainly create benefits for protected industries, but those benefits come at the expense of consumers and other industries throughout the economy.| Tax Foundation
A tariff is a tax imposed by one country on goods or services imported from another country. Tariffs are trade barriers that raise prices and reduce available quantities of goods and services for U.S. businesses and consumers.| Tax Foundation
Lawmakers will need to pursue fiscal responsibility as they address the tax law expirations, but fiscal responsibility requires finding sound ways to pay for spending priorities. Tariffs don’t make the cut.| Tax Foundation
