Under the U.S. Constitution, the federal government was assigned specific, limited powers, and most government functions were left to the states.

The importance of infrastructure investment to the U.S. economy is widely recognized.

In the new Cato Handbook for Policymakers, I propose cutting the earned income tax credit (EITC).

Did tax increases deepen and extend the Great Depression?

The IRS has released a new estimate of the “tax gap,” which is the amount of federal taxes owed but not paid.

Economists are blaming today’s high inflation on excess federal spending, supply disruptions, and misjudgments by the Federal Reserve.

This Cato study examines wealthy people funding startup businesses.

The Inflation Reduction Act being considered by Congress would vastly expand the Internal Revenue Service.

The Senate’s Inflation Reduction Act includes an $80 billion increase in the Internal Revenue Service budget over a decade, which would roughly double the agency’s budget by 2031.

Inflation stems from too much money chasing too few goods.