by jpitney | Jan 21, 2025 | Taxes, Trade
Paul Wiseman at AP: In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That’s why economists say...
by jpitney | Jan 20, 2025 | Taxes, Trade
Colin Grabow at Cato: Most notably, a US International Trade Commission report that examined the tariffs … found that duties on steel and aluminum led to the protected industries (e.g., US steel mills) increasing their output by an average of $2.8 billion ($1.5...
by jpitney | Jan 15, 2025 | Taxes, Trade
At the Competitive Enterprise Institute, Ryan Young notes that a 25 percent steel tariff caused steel prices to rise by 25 percent. It wasn’t just imported steel prices that went up. Domestic steel prices went up, too, even though the US government collects no tariff...
by jpitney | Dec 11, 2024 | California Politics, Taxes
Adam Hoffer, Jacob Macumber-Rosin at the Tax Foundation: California pumps up its gas tax the most at 68.1 cents per gallon (cpg), followed by Illinois (66.5 cpg) and Pennsylvania (58.7 cpg). The lowest gas tax rates are levied in Alaska at 8.95 cpg, followed...
by jpitney | Nov 3, 2024 | Taxes, Trade
Sandler, Travis & Rosenberg, P.A: A new report from the Cato Institute argues that several laws authorize the president to impose tariffs on a wide range of imported goods without substantial procedural or institutional safeguards. … The report explains...
by jpitney | Aug 3, 2024 | California Politics, Regulation, Taxes
Collin Eaton at WSJ: Chevron is relocating to Texas, deserting California, its home state for more than 140 years, where the business climate has soured for oil companies. The second-largest U.S. oil company said Friday it plans to move its global headquarters...
