Dear Speaker Ryan and Chairman Brady: On behalf of the undersigned organizations, we write in support of House passage of Tax Reform 2.0. This proposal is split into three pieces of legislation: H.R. 6760, the Protecting Family and Small Business Tax Cuts Act, H.R. 6757, the Family Savings Act, and H.R. 6756, the American Innovation […]
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.
Today, The American Consumer Institute (ACI) joined a coalition of over 30 state and national conservative and tax policy organizations urging Congress to move tax legislation through conference quickly and pass pro-growth reform before Christmas. In a letter sent to every member of Congress, the signers highlighted the need to pass a bill that will […]
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 […]
Alan Daley wrote an op-ed cautioning the development of tax reforms that needlessly tax some services, like reinsurance. Such taxes would needlessly raise consumer prices without offsetting or adjusting any international taxes. His piece can be read at the Naples Daily News. Use Caution in Tax Reform Tax reform could provide a much-needed boost to […]
The Border Adjustment on corporate federal taxes is part of a large proposed revamp to the tax code. The purpose of the package is to stimulate US production and exports, increase employment within US goods-producing industries, and come closer to a balance of federal revenues and expenditures. The overall tax package will shift the emphasis […]
At first glance, President Trump’s tax-cut plan has merit. It proposes lowering corporate and individual tax rates to stimulate economic growth. The plan calls for repatriating income held overseas by U.S. corporations, which will bring an influx of trillions of dollars of new capital into the country. In addition, the plan may allow businesses to […]
The election’s promise of tax reform raises both anticipation for some and anxiety for others. One thing is for sure – sensible tax reform will reinvigorate the economy. There is no question that the proposed expensing of capital purchases will encourage business and infrastructure investment, and repatriating the $2.6 trillion being held overseas back into […]
A letter was sent to Congress in support of full expensing of business investments as part of tax reform. The letter is available here — https://www.theamericanconsumer.org/wp-content/uploads/2017/02/Coalition-letter-in-support-of-full-business-expensing-and-advertising-deduction.pdf.
Most consumers like meaningful, well-paying jobs and lower tax rates. Those end results are typical of what our political candidates promise, but those results are not the automatic result of an election victory. They depend on implementing the right policies. In the recent election, one piece of a tax proposal for businesses was a “border […]