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The chorus of voices calling for a competitive U.S. tax code to spark job growth and economic investment is growing stronger by the day. Add Bloomberg to the choir. Its editorial published Sunday night makes clear that the political hyperbole around tax reform isn’t creating jobs. What will is actual tax reform – and the adoption of a lower corporate rate and a competitive territorial system should [...]
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There’s been a lot of heated rhetoric this week about “territorial” taxation, but one fundamental fact is clear: a competitive territorial tax system would help spark job creation and business investment in America. Unfortunately, the rhetoric has badly misinformed the American people about what the real facts are. Here are the key points to keep in mind: The United States has the highest corporate [...]
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At TechElect, we love substantive policy debates, and Alan Beattie’s piece in today’s Financial Times on the presidential candidates’ approaches to corporate tax reform tax reform certainly fits the bill. TechElect has already compared the candidates’ competing tax plans, and we applaud the FT’s deep dive into both presidential candidates’ positions on tax reform. TechElect finds much to agree on [...]
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A House subcommittee hearing today focused on the issue of extending temporary business tax measures that influence investment and business decisions in the U.S., and ITI pressed for quicker action by the Congress to move the legislation into law. ITI’s Bret Wincup takes a look at the issues, and you can see the formal statement that ITI provided to the subcommittee. In recent months, there has been [...]
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Add Florida Democratic Senator Bill Nelson to the growing list of lawmakers who recognize that America’s corporate tax system isn’t helping to create American jobs. In a speech Wednesday night, Senator Nelson laid out his thinking: “Our corporate tax is too high and too complex, and it stifles competition. In fact, the United States has the highest statutory corporate income tax rate in the developed [...]
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Avengers, assemble! This weekend, The Avengers opened to huge crowds across America. People flocked to see these heroes battle Loki and his army, intent on destroying the American way of life. Oddly, a similar fight is taking place over American businesses, as foreign countries use every weapon in their arsenal to attract U.S. companies’ investment and the jobs that go with it. But too few heroes [...]
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Today, a House subcommittee is examining the value of tax extenders. The tech sector is strongly supporting three key provisions that have major benefits for job creation and economic strength in the U.S.: the research-and-development tax credit, the CFC look-through exception, and the active finance exception. ITI submitted testimony for the hearing. Here are some of the key points: On the urgency [...]
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In this age of economic uncertainty, policymakers and pundits alike are searching for a silver bullet to cure our country's economic ills. Yet for all the op-eds and policy papers, a quick conversation with a CEO or CFO of any American company would tell you that there is one thing that business leaders think should be part of any economic strategy: tax reform. As we proceed further into election [...]
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In an election year when the economy and job creation are center stage, it is inevitable that tax reform becomes an important issue of debate for all the candidates. Most recently, President Obama released a tax reform framework. Republican candidates Mitt Romney and Rick Santorum have put forward their own economic plans that include tax reforms. Key members of Congress also have sought to push [...]
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A big part of a pro-growth tech agenda includes corporate tax reform. It's a priority that we are pressing the presidential candidates to adopt. The current tax code is outdated. It stifles innovation and job creation. There have been a number of corporate tax reform plans put forward, and it will take some time to work through the ideas. But there are a few simple actions that Congress and the [...]
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