Another month, another explosive rise in home prices. May’s median annual housing price rose 23.6%, a new monthly record. Buyers are still buying, helped by low interest and mortgage rates. But since housing construction hasn’t kept pace with demand and economic growth, it will take more housing production to reduce long-term pressure on prices. The buying pressure in housing
Taxes
States received billions of dollars from the federal government to help them manage the COVID-19 pandemic in 2020 but one-quarter of them still had to cut spending over the last year to get by. A total of 12 states had to cut a combined $4.1 billion from their budgets in order to balance out projected
“If you think the Bahamas has ruined your global tax system, you have a pretty terrible global tax system.” That’s what Steven Dean, a professor at Brooklyn Law School, told Tax Notes contributing editor Robert Goulder last summer during a broader discussion about international tax policy. They were specifically discussing tax haven blacklists and the ways those lists have been racialized
A corporate minimum tax seems all but certain. The G-7 has agreed to support new rules for a global minimum tax rate on company profits and a new way of sharing the revenues from taxing the world’s largest and most profitable companies. ADVERTISEMENT The deal would impose a minimum tax of at least 15% and
Joseph Bishop-Henchman of the National Taxpayers Union Foundation discusses the litigation of a provision in the American Rescue Plan Act restricting states from using federal funds provided by the law to offset reductions in net tax revenue. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor