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The economic impact of Trump's tariffs by the numbers:

Tariffs are taxes. Tariffs are regressive taxes. Tariffs are distortionary, regressive taxes. Tariffs are distortionary, regressive taxes that raise prices for US businesses and consumers.

Contrary to the president’s promises, the #tariffs will cause short-term pain and long-term pain, no matter the ways people and businesses change their behavior.

Lawmakers can constrain the runaway growth of property taxes—without creating more issues. But the details matter. taxfoundation.org/research/all...

Tariffs are taxes.

Frustrated with tipping? "No tax on tips" could make it worse. taxfoundation.org/blog/tipping...

Only three states raise enough revenue to fully cover their highway spending. With most states unable fund their roadways using existing user fees, road funding is in dire need of a better system.

When the US imposes tariffs on imports, businesses in the United States directly pay import taxes to the US government on their purchases from abroad.

🗓️ Save the Date! Join us on Thursday, April 10th for our joint conference hosted by the Tax Foundation, University of North Carolina Tax Center, and Massachusetts Institute of Technology Sloan School of Management. Learn more and register: taxfoundation.org/event/2025-t...

2024 Tax Brackets These inflation adjustments are for tax year 2024, for which taxpayers will file tax returns in early 2025: taxfoundation.org/data/all/fed...

Trump's tariffs on Mexico, Canada, and China would rank as the largest tax increase since 1993 and the 8th largest peacetime tax increase since 1940.

Trump's tariffs on Mexico, Canada, and China would shrink GDP by 0.4% and amount to an average tax increase of more than $800 per US household in 2025, according to our latest analysis: taxfoundation.org/research/all...

Trump often cites President McKinley as an inspiration for his personal affinity for tariffs. But it's worth noting some of McKinley’s final words on tariffs in a 1901 speech: “Isolation is no longer possible or desirable...Commercial trade wars are unprofitable." taxfoundation.org/blog/trump-m...

Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised. taxfoundation.org/data/all/fed...

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