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With just days left before Congress adjourns for the year, ITI urges the Senate to pass H.R. 5771, the Tax Increase Prevention Act of 2014. For the tech sector, passing this bill ensures the renewal and extension of the R&D tax credit, a successful tax incentive proven to stimulate investments and job growth. More immediately, if Congress fails to pass extenders legislation it would trigger an immediate [...]
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Now that Election Day has passed, Congress has returned to the nation’s capital this month for a lame duck session to finish work on a list of must pass items in the short time remaining this year. Much has been said about the gridlock that has plagued Congress and left it with few accomplishments to show, but there is still an opportunity for lawmakers to pass a bill that will do a great deal to grow [...]
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This week, the U.S. House of Representatives will consider H.R. 4438, the “American Research and Competitiveness Act,” which would simplify, enhance, and make permanent the research and development (R&D) tax credit. Put simply, this bill and this vote will increase investment, competitiveness, and job growth here at home. Establishing a permanent R&D tax credit, inclusive of all technologies, will [...]
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Senator Max Baucus, Chairman of the Senate Finance Committee, is well-known and regarded for his depth of knowledge, pragmatism, and bipartisanship. That’s why ITI has been patiently awaiting the release of his plan for comprehensive tax reform. While Christmas did not arrive early in the form of an actual bill, Chairman Baucus did release a staff discussion draft today with proposed reforms for [...]
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It was the legendary Chief Justice of the United States, John Marshall, who wrote the now famous phrase, “[T]he power to tax involves the power to destroy…” He would likely repeat those words if he could read through the Stop Tax Haven Abuse Act, introduced this week by U.S. Sen. Carl Levin, D-Mich. This legislation, if enacted, would direct the destructive power of the tax code on the global competitiveness [...]
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Two recent op-eds in California papers reinforce the critical goals of corporate tax reform: Create jobs and strengthen the American economy. It doesn’t matter if you are a Democrat from Montana or a Republican from Michigan, a tech company in Boise or an entrepreneur in Austin. We all would benefit from a modern tax system that levels the global playing field so American companies can compete around [...]
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Senate Finance Committee Chairman Max Baucus and House Ways & Means Committee Chairman Dave Camp are taking their “Max & Dave” Tax Reform Tour to Silicon Valley later this month. One of the stops will be at the Intel Corporation, an ITI member and one of the U.S. economy’s innovation cornerstones. The chairmen’s visit to the Valley will give them the opportunity to hear about the significance of tax [...]
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There’s something that everyone agrees on when it comes to getting the U.S. economy back to full competitive strength: we need modern, comprehensive tax reform. Republicans, Democrats, working families, business leaders -- the broad range of the American public -- understand that our current tax system doesn’t help job creation. What’s in place now, an outdated corporate tax code last reformed in [...]
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The cameras were rolling in the Dirksen Senate Office Building today as Michigan Senator Carl Levin gaveled in his hearing on Apple’s tax practices. The news accounts will cover the fiery exchanges between senators (Senator Rand Paul of Kentucky, for instance, said that the hearing had one purpose, namely “to bully one of America's greatest success stories . . . If anyone should be on trial here, [...]