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.
It's Time For States To Tell The Feds To Take Their Subsidies And Shove 'Em
It’s time to end the cycle of the feds taking our money only to hand some of it back—minus a big bureaucratic handling charge—if states do their bidding.
Section 179 Reinstatement Good, But Clarity Is Better
A federal policy think-tank this week released a new document detailing the impacts of tax uncertainty on the ag sector, including the "will they or won't they" nature of Section 179 reinstatement. In commentary on Section 179 and ag tax issues, IPI President Tom Giovanetti says Congress' latest move on the 2014 expensing provision was essentially too little too late.
When I Die, Let It Be in Canada--or Mexico, or Better Yet, Israel
The US has the fourth highest estate tax in the world, and Obama would like to expand it. You might try to avoid it by retiring in another country, or by backing a presidential who will eliminate—this time for good.
Tax Uncertainty Hurts: Congress Should Not Delay on Section 179
Congress must avoid the mistakes of 2014, when tax uncertainty delivered a harmful blow to the economy thanks to tax policies which were never clarified until the very end of the year, says IPI president Tom Giovanetti in “How Tax Uncertainty Harms Economic Growth.”
How Tax Uncertainty Harms Economic Growth: Agricultural Investment and Section 179
Frantic end-of-year passage of tax extenders does not encourage investment as intended. In 2014, investment in agricultural equipment was hampered by tax uncertainty over Section 179. Congress must recognize the need for certainty in tax policy by passing temporary measures earlier in the year, and by implementing overall tax reform that results in a simpler, more stable tax system.
Congress is Downsizing The IRS, So It Must Downsize the Tax Code
Tax reform and simplification needs to be one of the Republicans' top priorities. In the meantime, they should continue cutting the IRS budget.
Blame Congress, Not TurboTax, for Tax Fraud
Washington has never made fraud prevention a major focus. When fraud arises after its failure to act, the government blames tax preparation software.
Blame the IRS and Congress, Not Software, For Tax Fraud
It’s shameful to see Congress pass the buck and attempt to pin the blame for tax fraud on tax preparation software.
As Obama Trolls for More Money to Spend, Republicans Need to Keep the Sequester Caps
As President Obama trolls for ever more spending, it is more important than ever for Republicans to keep the sequester spending caps if they want to control government spending.
We Need Tax Reform NOW
More than 70 organizations unite in the message of this coalition letter to send a powerful message to Congress that there is momentum around tax reform, and that it should become one of their very top priorities.
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