Global Scans · Tax · Weekly Summary

• [New] 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
• [New] In 2026, the U.S. will fully implement the One Big Beautiful Bill Act, a historic piece of legislation that will reshape the U.S. tax system. Travel And Tour World
• [New] On the macro side, the combination of the new OBBBA tax bill and The Fed's rate cuts is expected to provide a cushion for the US economy. Gotrade
• [New] 2026 global growth will outpace job creation, with US leading at 2.6% due to tax cuts and relaxed financial conditions. Ainvest
• [New] 2026 outlook suggests gradual stabilization, with automakers adapting to tax policies, consumer preferences, and hybrid technology adoption. Ainvest
• [New] For U.S. equities, the current policy mix-industrial incentives, tax cuts, and AI-driven capex - has supported risk assets and driven opportunities in sectors like technology and manufacturing. Morgan Stanley
• [New] Rather than relying solely on complex tax credits and subsidies, Canada could consider a Carbon Takeback Obligation - a policy mandating that for every tonne of carbon dioxide generated by the fossil fuels sold, a specific percentage must be permanently recaptured and stored geologically. calgaryherald
• [New] As of 2026, Kansas will no longer levy statewide property taxes to finance the Kansas educational building fund or the state institutions building fund. Tax Foundation
• [New] Under sweeping property tax changes in Montana, a tiered-rate system will go into effect for owner-occupied property, while second homes and rental properties will face a separate, higher rate. Tax Foundation
• [New] Rhode Island will begin imposing a new tax on the short-term rental of whole homes. Tax Foundation
• [New] Michigan will impose a new wholesale tax on cannabis. Tax Foundation
• [New] Maine's tax on alternative nicotine products will increase, while Nebraska, Oregon, and Washington will impose new taxes on alternative nicotine products. Tax Foundation
• [New] The state sales tax on groceries will be eliminated in Illinois, but counties and municipalities will be able to replace the state sales tax with their own 1% local sales tax on groceries. Tax Foundation
• [New] Berlin - Germany's minimum wage will rise in 2026, pensioners will receive more money, and many people can look forward to tax relief. Fazit Communication GmbH
• [New] Alongside the usual tax changes, the German government will introduce a tax cut package in 2026. IamExpat in Germany
• [New] California's 2026 Billionaire Tax Act proposes a one-time 5% net worth tax on individuals with $1 B +, sparking debates over capital flight risks and innovation impacts. Ainvest
• [New] Americans could expect an average of about $1,000 in additional tax refunds in 2026. The Atlantic
• [New] Cox Auto expects a new-vehicle SAAR of 15.8 million in 2026, driven by slower economic growth, weaker job creation, and the expiration of EV tax incentives. Car Dealership Guy News
• [New] Many states will implement sales tax changes in 2026, including Arkansas and Illinois, which are eliminating the state food tax, and Washington, D.C., which is on track to increase its sales tax rate. Avalara
• [New] Hawaii is generating climate resilience funding through a green tourism tax and expects to raise $100 million annually for projects such as firebreaks, erosion control, and infrastructure upgrades. Governing
• The ATCS will give investors in 'major projects' a formal process for engaging with HMRC and obtaining greater clarity regarding certain UK tax outcomes which may arise with respect to their investment. JD Supra
• A federal judge's ruling has cleared the way for Hawaii to include cruise ship passengers in a new tourist tax to help cope with climate change, a levy set to go into effect at the start of 2026. vancouversun

Last updated: 05 January 2026