Taxes directly affect Americans by compelling them to surrender part of their income to the government, and indirectly since the taxing power can positively or negatively affect economic growth.
In the U.S., our tax regimes are in serious need for reform, both at the state and federal level. Our tax code fails to sufficiently incentivize investment, the primary driver of economic growth. And it hobbles U.S. companies as they compete internationally.
IPI believes that the purpose of taxes is to raise the revenue necessary to fund the legitimate functions of government while imposing the least possible impact upon the functioning of the economy. We therefore believe that taxes should be simple, transparent, neutral, territorial and competitive.
Because of its tremendous potential to stimulate real long-term economic growth, tax reform should be a top priority of policymakers.
21 Percent Is Just Fine
So the corporate tax rate in the conference committee bill is 21 percent, not 20 percent. That’s okay, we’ll get over it!
Corporate Rate Cut Must Take Effect in 2018, not 2019
If the corporate rate cut doesn’t take effect until 2019, businesses may choose to wait a year and defer income and production.
End the Individual Mandate
Ending the mandate would allow people in the individual market who do not receive the taxpayer subsidies to find an affordable policy.
Rubio-Lee Tax Proposal Problematic
"Reducing the economic growth effects with a higher corporate rate takes tax reform in the wrong direction," said IPI president Tom Giovanetti.
Don't Listen to the Nattering Nabobs of Economic Negativism
The economy used to frequently meet or exceed 4 percent GDP, before big tax, spend and regulate policies became the norm. Tax reform might take us back to the future.
Pass Tax Reform So We Can Tackle Entitlements Cliff
President Trump has said he wants to tackle welfare reform soon. Doing so is a much easier task if a booming economy has employers scurrying for workers.
Dems Want to Raise Taxes on the Rich--Except When They Don't
Democrats want to raise taxes on the rich; the Republican tax plan would do that in part by reducing some tax breaks and the Democrats run to the wealthy's defense.
Giovanetti: Passage of Tax Bill Major Step Towards "Right Kind" of Tax Reform
IPI commends the U.S. House of Representatives for passing sweeping legislation towards significant tax reform that would benefit the U.S. economy and the middle class.
Media Advisory: Matthews Available to Discuss Senate Inclusion of Individual Mandate Repeal in Tax Bill
Reports confirm the Senate has the votes to include a repeal of Obamacare’s individual mandate in its tax bill, which is not only a good step for health insurance reform, but also helps pay for tax reform.
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