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.
Trump's New Taxes
Donald Trump is the only Republican presidential candidate gleefully promising to raise taxes.
A Picture of the Obama Economy
If a picture is worth a thousand words, so is a graph. We have compiled several graphs that convey a picture of the Obama economy, and it isn't pretty.
Five Bold Policy Reforms 2016 Candidates Should Embrace
House Speaker Paul Ryan says Republican candidates are looking for bold policy reforms. IPI has responded with proposals that reduce the size and scope of government, empower people and states to make their own decisions, and keep more money in the private sector rather than the public sector.
Conservatives Who Defy the Rule-of-Law on Taxation
Conservative legislators should not defy rule-of-law in their greed for more tax revenue.
When Will Republican Candidates Start Identifying Proposed Spending Cuts?
Tax cuts are nice but they are not enough. The government doesn’t just take too much money, it also spends too much.
Internet Tax Freedom Forever Act Passes Congress
Congress has voted to permanently bar state and local governments from taxing access to the Internet. For 17 years, the ban on Internet taxes has benefited millions of Americans by empowering them to conduct transactions on the Internet free from the fear of additional tax burdens. "This is a tremendous victory for America's Internet economy, and for all of us who participate in this economy", said Institute for Policy Innovation president Tom Giovanetti.
Senate Passes Customs Bill With PITFA Intact
Passage of PITFA as part of HR-644 now "intensifies" S-698 opponents' push to "stave off the attempt" to pass that bill, said IPI president Tom Giovanetti in a statement. S-698 "has never had committee scrutiny on the Senate side and [has] never been subject to amendment on the floor." Senate Republican leaders "must commit to first submitting this legislation to the same procedures, hearings and scrutiny appropriate to any and all legislation, especially since this proposal has serious Constitutional questions," Giovanetti said.
Powell Praises PITFA Passage
Fans of the just-passed permanent Internet Tax Fairness Act (PITFA), which bans taxes on Internet servcie, were weighing in Thursday (Feb. 11), including warning about the Internet sale tax legislation whose future consideration was a tradeoff for that passage.
PITFA Tremendous Victory for U.S. Internet Economy
The Institute for Policy Innovation (IPI) commends the U.S. Senate for passing the Permanent Internet Tax Freedom Act (PITFA). "This is a tremendous victory for America’s Internet economy, and for all of us who participate in this economy," said IPI president Tom Giovanetti.
Tax Succor or Sucker Punch
For years, big-government pro-taxers have often deployed parliamentary tricks to thwart the vote on a permanent Internet tax fix. This time, however, there may be nowhere to hide.
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