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Taxes & Trade Archive

Is the United States In or Out on Globalization? | Commentary

When Michigan Repulican Rep. Dave Camp’s comprehensive tax reform plan died earlier this year, so too did the hope that Congress would tackle America’s economic competitiveness problem anytime soon.

The Dark Money Complex | Commentary

There’s a scandal that’s been brewing at the IRS for years — but not the one you’re thinking of. This one has nothing to do with conservative groups.

New Markets: A Tax Credit That Works for America's Communities | Commentary

As Congress gears up for its five-week summer recess, we suggest our colleagues visit a business or community development project in their area that was financed by the New Markets Tax Credit. You will be impressed.

Corporate Tax: Bring It Up to Code | Commentary

Last week, U.S. Treasury Secretary Jacob J. Lew called on Congress to eliminate corporate “inversions,” the practice whereby U.S. companies relocate their headquarters to countries with more desirable tax structures. Concern over the erosion of our corporate tax base is important and shouldn’t be taken lightly. That said, what is of greater concern is our inability as a country to address the global competitiveness of our corporate tax rate. U.S. corporate tax rates are not yet competitive enough, in part due to the fact that Congress has yet to pass a fully-comprehensive tax code that addresses competitiveness.

Time is Right for Real Housing Reform that Protects Property Rights | Commentary

A monumental opportunity has presented itself as Julian Castro, former mayor of San Antonio, takes over as the new secretary of Housing and Urban Development and Congress looks ahead on the critical issue of housing finance reform.

Why Ex-Im is Indispensable | Commentary

Debate in Congress over the future of the U.S. Export-Import Bank is coming to a head. Absent congressional action, Ex-Im will be unable to provide new loans or guarantees to American exporters after its charter expires on Sept. 30.

Finding a Destination for Condensate Exports

As the Commerce Department moves to allow companies to export mildly processed ultralight oil known as condensate, is there a global market? Yes, and it is principally in Asia, experts say.

Whatever It Is, Crude Export Policy Is Shifting

Despite soaring U.S. oil production in recent years, the prospect of relaxing the 1970s ban on crude oil exports has looked as faint as ever. Last week, though, it was a central subject at an Energy Department conference.

The True Patriotic Response to our Growing Tax Crisis | Commentary

On Tuesday, the Senate Finance Committee is scheduled to hold a hearing that will examine a critical issue impacting the long-term health of the U.S. economy – our international tax system. Dubbed “Love it, Leave It or Reform It!” the committee promises to delve into the specific issue of corporate tax inversions, which describes a practice whereby companies reincorporate in a foreign country.

Extenders Are Part of the Long Game in Tax Overhaul

As the debate over renewing dozens of expiring tax breaks unfolds this year, House Republicans are making an unusual sales pitch: Congress needs to cope with the fact that the grab bag of reductions is much more costly than lawmakers like to admit.

Congress Needs To Act To Keep The Internet Tax-Free | Commentary

Internet service is an essential staple of everyday life, with over 80 percent of Americans able to access the web at home and work and nearly 60 percent carrying smartphones with mobile broadband service. Smart government policies forbidding Internet service from being taxed have helped make broadband available and affordable for Americans of all ages and incomes, but a critical piece of federal legislation, the Internet Tax Freedom Act, is set to expire in November.

Understanding the Economic Benefits of Increased Saving | Commentary

Saving. In the U.S., it is a lost art. According the Bureau of Economic Analysis, the U.S. household saving rate has steadily tracked downward over the past 30 years, to just 3.8 percent today. Across older households aged 40 and above, those on a low income are particularly vulnerable to under-saving, with those in the bottom income quartile needing to save about 21 percent more of their pre-tax income, on average, to ensure financial security in retirement. Unless they can boost their saving, many households will have to choose between working beyond the official retirement age or accepting a lower standard of living in old age — or running out of money altogether. That’s not just a problem, it’s a crisis.

Affordable Housing Credit May Be Heading to Floor

A loose alliance of banks, state officials and business groups is pushing for a permanent extension of a low-income housing tax credit enacted during the financial crisis.

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Tax Writers Hope to Stabilize Housing Industry

A housing recovery moving in fits and starts is fueling new efforts on Capitol Hill to protect tax incentives for home ownership and oppose any reductions in the tax breaks that might be part of a broad tax overhaul.

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Conservatives See Highway Trust Fund Fight as Road to State Control of Transportation Spending

Conservative groups and Republican lawmakers want to revive a policy debate over the federal role in transportation policy as Congress gets ready to debate a long-term reauthorization of highway and transit programs.

A Broadened Perspective on Tax Reform | Commentary

Consensus is an almost unheard of commodity today in Washington, and it’s not difficult to find confirmation of this fact. The 113th Congress has produced less than 100 bills that have been signed into law – an historically low level of output.

Unlocking Foreign Investment to Fix U.S. Infrastructure: A Bridge to Bipartisanship | Commentary

Outdated tax rules are depriving the U.S. of billions of dollars in foreign investment. The must pass transportation bill is a rare bi-partisan opportunity for Congress to implement pro-growth tax reform and put Americans to work on our nation’s crumbling roads and bridges. With political gridlock increasingly the norm, our national leaders must seize opportunities to advance commonly held objectives.

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Tax Treaties at Standstill in Senate Over Privacy Issues

Approving tax treaties with other nations used to be relatively routine business on Capitol Hill, but that’s no longer the case.

A Mistake to Overlook Latin America's Role in Today's Trade Negotiations | Commentary

This is a pivotal year for global trade policy. Two huge deals—namely the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership —have the potential to dramatically redefine the nature of the global economy and reinvigorate global growth. Congress has an important role to play as these negotiations move forward.

Allowing States the Option of Using Tolls Is a Good Idea | Commentary

A provision in the GROW AMERICA Act, introduced to Congress last month by Secretary of Transportation Anthony Foxx, proposes lifting a decades-old ban on tolling existing interstate general purpose lanes.

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