The new edition of Principles of Tax Policy explains the essential building blocks of the American tax system clearly and concisely, including the changes adopted in response to the COVID-19 pandemic and rising inflation in 2022. Chapters focus on the political process, individual and corporate income taxes, Social Security and other payroll taxes, state and local budgeting, international tax planning, and more. Each chapter opens with a brief description of the policy topic, providing a synopsis of the current state of the law, and is followed by a discussion of the arguments made on all sides of the major debates over the topic.


Imprint: West Academic Publishing
Series: Concise Hornbook Series
Publication Date: 04/14/2023

Stephanie Hunter McMahon, Cincinnati

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The new edition examines the many changes enacted in response to the COVID-19 pandemic and the Inflation Reduction Act 2022 and these changes’ political and economic consequences, including:

  • Practical effects of the partisan political process behind tax legislation;
  • Temporary increases in benefits operated through the tax code, such as the Child Tax Credit;
  • Return of the corporate alternative minimum tax;
  • Changes in state and local taxation, including their responses to the economic pressures caused by the COVID-19 pandemic; and
  • Continuing contests over the international tax regime, including Amazon’s and Apple’s appeals in the EU over their international tax planning.

Learn more about this series.