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 Tax Reform Miracle
President Trump has already done more to grow the U.S. economy than the last four presidents and 28 years combined.
Trump's Tax Reform Is A Miracle That Should Make Everyone Giddy
"I don't know what lies ahead for the Trump administration, but President Trump has already done more to grow the U.S. economy than the last four presidents and 28 years combined. In itself that is a significant policy legacy."
How Trump's Second Year Can Top His First
President Trump made a lot of progress in 2017—a lot more than many expected. Now the question is whether his second year can top his first.
IPI Commends Congress For Passing Pro-Growth Tax Reform
IPI enthusiastically commends Congress for finally passing a pro-growth tax reform that represents a much needed reduction in taxes on investment capital and will make the U.S. economy much more globally competitive.
How Average Americans Benefit From the GOP Tax Reform
Here’s one way millions of Americans will benefit from the Republican tax reform, even if they don’t benefit directly from lower tax rates: the booming stock market.
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.
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