Seven huge corporations recently announced that in 2024 they were allowed to collectively keep $1.4 billion in tax breaks from previous years that they had publicly admitted would likely be found illegal if investigated – all because the tax authorities were unable to identify and disallow them before the statute of limitations ran out.

Countries that once looked to the U.S. for direction on tax policy have concluded they need to form alliances without us. If so, it will often be to the benefit of other people around the globe and to the deficit of U.S. communities.

The rampant uncertainty this year extends far beyond the national economy and federal policy, as many state legislatures are declaring their tax and budget debates finished, and just getting started, sometimes in the same breath.

Missouri lawmakers are debating a tax cut that will mostly benefit the wealthiest in the state, while relying on an unrealistic estimate of what it will cost.

While students and families are enjoying spring break vacations, legislative sessions are still in full swing. And some are poised for a spring tax break season as proposals advance with major implications for the sustainability of state budgets.