Balanced budget requirements (BBRs) are constitutional or statutory rules that generally prohibit states from spending more than they collect in revenue in a fiscal year. However, these state rules ...

The 2017 Tax Cuts and Jobs Act increased the standard deduction, eliminated personal exemptions, doubled the maximum child tax credit (CTC) from $1,000 to $2,000 per child under age 17, and added a ...

The exclusion of employer-paid premiums for health insurance from federal income and payroll taxes is the single largest tax expenditure, costing the federal government an estimated $299 billion in ...

What is the Briefing Book? The Briefing Book offers short explanations of important tax issues. Some sections provide background on the current state of tax and budgetary affairs: How much revenue ...