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.
House Small Business Committee Hearing
In comments prepared for the House Small Business Committee, NTU's Pete Sepp cites IPI president Tom Giovanetti's March 2015 analysis examining the impact on business decision-making around the up-and-down turmoil of the Section 179 small business expensing limit over the past few years.
Want Lower Taxes? You Might Want to Move
If you want lower taxes you have three options...and one might involve a moving truck.
Eight Good Reasons To Abolish The IRS
Looking at the long list of IRS abuses, something needs to be done.
Letter Urging Withdrawal of Funding to O.E.C.D
American taxpayers should not be asked to subsidize international organizations working against U.S. interests.
Extended Yet Again: The Debate Over State Taxation of Internet Access Will Be One for the 114th Congress
At the end of the 113th Congress, lawmakers kicked the proverbial can down the road when they left the issue of taxing internet access to the 114th Congress. Will 2015 be the year something changes?
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.
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