Global Scans · Tax · Weekly Summary

• [New] U.S. economic growth will accelerate to 2.6% in 2026, driven by tax cuts, reduced tariff drag and Federal Reserve rate cuts. Fox Business
• [New] Over the remainder of the Financial Plan, hotel tax collections are projected to rise at an average annual rate of 4.7%, reaching $966 million by FY 2029. Office of the New York City Comptroller Mark Levine
• [New] Legislators claim they can take in $100 billion in revenue from the tax that will allegedly go toward California's imploding healthcare budget. Armstrong Economics
• [New] General Motors will be hit with charges of $6 billion as sales of electric vehicles sputter after the U.S. cut tax incentives to buy them and also eased auto emissions standards. Castanet.net
• [New] The decision by Congress and Trump to eliminate consumer tax credits for electric vehicles will cast a pall on at least the first half of 2026 and maybe longer. Inside Climate News
• [New] While the OECD has proposed some simplifications, U.S. MNEs will still be stuck complying with some Pillar 2 rules in addition to existing U.S. tax rules. American Enterprise Institute - AEI
• [New] Certain non-refundable tax subsidies (such as the U.S.'s R & E credit) that were previously disfavored under Pillar 2 will no longer trigger a top-up tax. American Enterprise Institute - AEI
• [New] With the IRS workforce reduced by 26% and significant tax law changes on the horizon, there are risks to 2027's filing season. ABC News
• [New] Two-thirds of U.S. business leaders plan to do more M&A deals in 2026, spurred by further interest rate cuts and lower taxes. Manufacturing Dive
• [New] President Trump's new tax deduction for auto-loan interest could spur demand for vehicles assembled in the U.S. Edge and Odds -
• [New] Funding for green energy projects is expected to increase in 2026, driven by, among other factors, falling costs, growing demand, supportive policies such as tax credits, and a clean energy transition that's gathering speed globally. Power Shift Africa
• [New] Tariffs will increase the tax burden on U.S. families by an average of $2,110 in 2026. Investopedia
• [New] U.S. multinational corporations will be exempted from paying more corporate taxes overseas in a deal finalized by the Organization for Economic Cooperation and Development. The Republic News
• [New] After months of negotiations, the OECD inclusive framework on base erosion and profit shifting has approved several safe harbours, including one that will shield U.S. multinational enterprise groups from some global minimum tax rules. Eide Bailly LLP
• [New] For 2026, each individual can gift up to $19,000 per person per year without having to file a gift-tax return, and all but ultrawealthy, ultragenerous people will never pay gift tax during or after their lifetimes. Morningstar, Inc.
• [New] 2026 could mark the beginning of a new era where deaths outnumbering births becomes the common trend, piling further pressure on the public purse to strum up tax receipts to fund spending. City AM
• [New] Starting in 2026, CHF 567 million will be paid to all residents of Switzerland as part of the environmental tax. SWI Swissinfo.ch
• [New] 2026 could be the largest tax refund season ever. / USA FOX 5 DC
• [New] Starting in 2026, some areas in California will see TOT rates rise by up to 2%, bringing the total tax rate for hotels and short-term rental properties to new levels. Travel And Tour World
• The passage of the One Big Beautiful Bill Act in late 2025 provided a massive second wind, offering significant corporate tax relief and regulatory rollbacks that are expected to save S&P 500 companies $120 billion in tax expenses through 2026. The Chronicle-Journal

Last updated: 12 January 2026