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Living in the nation’s capital, it is easy to be caught up on the wonkiest aspects of the tax reform debate. Terms like “transfer pricing” and “tax deferral,” which would generate understandable looks of confusion from most people, are parts of the everyday lexicon for those of us making the case for tax reform. That said, even in a sea of policy complexity, the case for policy solutions can be quite [...]
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Today, the tech industry celebrates another critical step towards normal trade relations with Russia as the Senate, by a vote of 92-4, decisively passed legislation to establish permanent normal trade relations (PNTR) with Russia. We commend the Senate for taking swift action today on a bill that ensures enforcement of Russia’s WTO commitments and puts the needs of American workers and businesses [...]
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At a time where we need bipartisan leadership that has a clear understanding of our country’s economic challenges, it is disheartening to see proposals that would create even more obstacles to economic recovery. Such was our feeling when we read the Congressional Progressive Caucus (CPC) framework for tax reform. The framework contains outdated, discredited ideas, and policymakers would be wise to [...]
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Now that the dust has settled on a bruising election season, we at ITI would like to formally congratulate all the newly elected members of the Class of 2012. With tax reform a key priority for the continued growth of the tech sector and the revitalization of the U.S. economy, we are looking forward to working with these freshman members of the House and Senate, along with those re-elected and currently [...]
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Today, the tech industry celebrates the successful House passage of the Russia PNTR legislation. We commend the House for acting in a strong bipartisan fashion to put the needs of American businesses and workers first. The final vote tally was 365-43. Now it’s the Senate’s turn. Majority Leader Reid has stated that passing Russia PNTR is on his agenda for the lame duck session of congress. Let’s [...]
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Now that we've turned the page on the campaign season, Congress has the opportunity to focus on measures that will help revitalize the American economy. This week, we see an opportunity to do exactly that as the House of Representatives is expected to vote on legislation that would establish a permanent, normal trade relationship (PNTR) with Russia and waive outdated Cold War-era emigration laws that [...]
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On Thursday, a pair of Congressional hearings will focus attention on the critical need for tax reform. We hope the hearings will not only examine the problems with our current antiquated tax system, but also look at potential solutions. At one hearing, Senator Carl Levin of Michigan will hear from several tax policy experts, government administrators, and business tax planners, including ITI members [...]
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The Senate Finance Committee today gave strong bipartisan support to legislation that would strengthen the U.S. economy and help American businesses to create jobs at a time when we really need it. The so-called “tax extenders package” would renew important provisions that support U.S. job creation – provisions that Congress allowed to lapse last December. Led by Chairman Baucus and Ranking Member [...]
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The chorus of voices calling for a competitive U.S. tax code to spark job growth and economic investment is growing stronger by the day. Add Bloomberg to the choir. Its editorial published Sunday night makes clear that the political hyperbole around tax reform isn’t creating jobs. What will is actual tax reform – and the adoption of a lower corporate rate and a competitive territorial system should [...]
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There’s been a lot of heated rhetoric this week about “territorial” taxation, but one fundamental fact is clear: a competitive territorial tax system would help spark job creation and business investment in America. Unfortunately, the rhetoric has badly misinformed the American people about what the real facts are. Here are the key points to keep in mind: The United States has the highest corporate [...]