Banks Regularly question the legitimacy of credit unions’ exemption from federal taxes. The casual observer may wonder why credit unions, which take deposits and make loans, are treated differently for taxes purposes than are banks which perform like services. The justification comes from unique functions performed by credit unions. The exemption from taxation was explained […]
New Study Undermines Argument for Taxing Sugary Drinks
Researchers at the Children’s Nutrition Research Center at Baylor College of Medicine have dealt another blow to the case for taxing sugar-sweetened beverages (SSB). The new study, published earlier this month in Current Nutrition Reports, found that “the evidence supporting [a] relationship between SSB consumption and child body mass index (BMI) is consistently small and […]
Inside Sources: Rural Americans Need Broadband and Here’s How Government Can Help
24 million Americans — many of whom live in rural areas — don’t have access to high-speed, broadband internet in their homes. But a new study says that next generation wireless broadband, 5G, may be within reach for many rural Americans, if only state and local governments reduce fees that discourage private-sector investment. To read […]
Inside Sources — Credit Unions: A Formula That Congress Got Right
The head of the Florida Bankers Association recently opined that credit unions aren’t paying enough in taxes. The comment was rich, considering that banks control 93% of financial depository institution assets. Deemed too big to fail, it was these very banks that turned their backs on consumers and small businesses during the last recession, while […]
ACI and 46 Other Groups Call for Permanent Individual Tax Reductions
Forty-seven groups sent a letter to the House of Representatives calling for all of the individual tax provisions from the “Tax Cuts and Jobs Act” to be made permanent. The coalition letter is available here.
ACI Joins Coalition Urging Congress to Pass Pro-Growth Tax Reform
Today, a coalition of over 40 state and national conservative and tax policy organizations urging Congress to pass pro-growth tax reform before the end of the year. In a letter sent to every member of Congress, the coalition emphasized the urgent need to pass legislation that will provide tax relief for middle-class families, spur job […]
Tax Reform Needed
The President’s outline for tax reform sketches the broad outline for lower corporate and individual rates and for closing loopholes. This reform is vital and would be a major economic stimulus. However, the plan lacks many details that will need to be decided. Repatriation of overseas profits back into the U.S. and the “expensing” of […]
Chasing Business Taxes Wherever Companies Choose a Home
The European Union (EU) is seeking an approach on business taxes that retains more of Internet firms’ earnings as taxes for itself. The EU has been spooked by foreign Internet companies’ selection of “tax homes” with especially low rates. Ireland has been a very popular choice of US high tech firms for reporting and paying […]
Coalition Calls for Ending ACA Taxes
Today, a coalition of 45 nonprofit organizations sent a letter to the U.S. Senate urging the repeal of Obamacare taxes. The letter is available online.
Important Topics by The Numbers
Get used to hearing “trillion” – i.e., a million millions. Two decades ago, I heard a politician lament about government spending, “a million here, a million there, pretty soon you’re talking real money.” Today, Wall Street and Washington DC are awash in discussions of financial and economic factors that need measuring with a trillion dollar […]
