Tag: ‘corporate tax reform’

Wishes, Dreams, and Bittersweet Denials

By :: May 14th, 2015

Be careful what you wish for. Businesses have backed an overhaul of the US tax code for quite some time, but their tune changes when it comes to corporate tax reform in other countries. The Base Erosion and Profit Shifting project, or BEPS, is an effort by  the Organization for Economic Cooperation and Development to […]

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Tax Struggles and Tax Sneaks

By :: March 25th, 2015

Senate Finance Committee Chair Hatch wants a tax reform bill in 2015. Tax Analysts reports that the Utah Republican aims to mark up a bill later this year. Speaking at Arent Fox, LLP, yesterday, Hatch chided the Obama administration for “lacking engagement” in tax reform. While he wants to overhaul the entire tax system, Hatch […]

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Corporate Tax Reform: Some Agreement, But Is Agreement Enough?

By :: February 5th, 2015

The President’s plan for corporate tax reform: Incomplete. TPC’s Howard Gleckman explains that while Obama’s budget renewed his call for cutting corporate tax rates, he again failed to show how he’d pay for most of the effort. He’s budgeted $141 billion for corporate tax reform over 10 years, but that covers less than 3 percent […]

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Is It a Business Man’s World?

By :: January 14th, 2015

Corporate tax reform: It wouldn’t affect all businesses. A cut in the corporate tax rate won’t benefit millions of unincorporated businesses, and those firms don’t think that’s fair. These include pass-throughs such as partnerships or S corporations that can range from small businesses like plumbers or freelance writers to larger entities such as  private equity […]

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The Senate Keeps Working...

By :: December 16th, 2014

Still on deck in the Senate: It is expected this week to renew dozens of expired tax breaks, including tax cuts for business research, wind power, and foreign profits. It’s worth remembering that if a $42 billion package like this gets passed every year, the federal deficit could grow by $800 billion over ten years. […]

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No Congressional Approval of a Spending Deal Yet, But Plenty of Commotion

By :: December 11th, 2014

In the spending bill, inversion curbs could be curbed. The bill to fund the government through September 2015, scheduled for a House vote today and a Senate vote after that, waters down Democratic-supported curbs on corporate inversions. The Ds would have barred companies that move their tax addresses outside the country from getting US government […]

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Extender Drama: Some Movies Just Aren’t Worth Seeing

By :: December 3rd, 2014

Coming soon to a theater near you: The House embraces a one-year “tax extender” package. It would restore retroactively for 2014 tax breaks affecting all manner of taxpayers—from research-heavy corporations, multinationals, teachers, commuters, and green energy producers, to NASCAR race tracks operators, Puerto Rican rum producers, racehorse owners, and Hollywood moguls. The one year cost: […]

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And the Winner Is... The GOP. Now What?

By :: November 5th, 2014

The GOP takes control of the Senate. It has secured a majority in the Senate but has far from working control in a chamber where 60 votes are needed to do almost anything. Utah’s Orrin Hatch will become the new chair of the Senate Finance Committee. Alabama’s Jeff Sessions is in line to head the Senate […]

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Pass-Through Firms Report $800 Billion in Net Income, Can’t Be Ignored in Business Tax Reform

By :: October 2nd, 2014

Washington is going through another one of its periodic calls for business tax reform. But new research by my Tax Policy Center colleague Joe Rosenberg shows just how hard it is to separate business taxation from the individual tax code. And it should serve as a warning to those who think Congress can enact corporate tax […]

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Rules, Reform, Taxes and Wealth: No Harm in Trying?

By :: September 11th, 2014

Maybe the duck will walk again? Lawmakers are putting down their markers on anti-inversion legislation. Top Senate Democrats Dick Durbin and Chuck Schumer have introduced a bill to curb “earnings-stripping” by multinational corporations—a practice where firms maximize U.S. tax deductions for interest payments and other business costs while shifting income to low-tax countries. Senate Finance […]

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