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.
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.
Taking Back Renewable Energy's Taxpayer-Funded Honeypot
Governments shouldn’t be in the business of picking winners and losers. Companies need to compete without taxpayer subsidies, letting consumers determine which companies — and industries — thrive and which don’t survive.
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On Corporate Taxes: Repatriate, But Don't Dictate
Congress should cut corporate taxes. But the economy as a whole would be better off if lawmakers let individual firms, not distant bureaucrats, decide how best to deploy repatriated profits.
Have Republican Tax Writers Lost the Plot on Tax Reform?
It’s not fair to judge a tax reform plan that hasn’t been released yet, but our overall excitement is tempered by a number of concerns.
With Sketchy Tax-Reform Details, Year-End Planning Could Be Challenging
If this proposal becomes law and more people go the standard-deduction route, it could simplify tax-return preparation for millions. A postcard-size tax return might have as few as 13 or 14 lines, according to the Institute for Policy Innovation, which supplied an illustration.
Is Tax Reform in Trouble?
Compromise on principles is wrong, but compromise on details is necessary, if any good is to be obtained.
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