Aug. 30, 2014 SIGN IN | REGISTER

Taxes & Trade Archive

Japan and the Trans-Pacific Partnership: All In, or Out?

U.S. Trade Representative Michael Froman will give congressional lawmakers an update on the Obama administrationís trade agenda Thursday, including its efforts to close out Trans-Pacific Partnership negotiations. While that agreement is expected to be concluded in the coming months, U.S. agricultural groups are concerned that it may fall short of the comprehensive deal they had hoped for.

Crafting the Taiwan Relations Act | Commentary

For 35 years, the Taiwan Relations Act has provided a vehicle for peace in the Pacific and a means of maintaining a direct relationship with the more than 23 million Taiwanese people who are one of our most important allies and trading partners.

IRS: Bitcoin is Property, Not Currency

Virtual currencies such as bitcoin will be taxed as property rather than currency, the Internal Revenue Service said Tuesday in long-awaited guidance on online tender.

In Camp's Camp: Praising the Effort on Tax Reform | Commentary

The courage to tackle tough problems may be a rare commodity in Washington these days, but there are still a few members of Congress willing to advance fundamental change to overcome the countryís largest challenges. House Ways and Means Chairman Dave Camp, R-Mich., is one of those lawmakers. He recently released a comprehensive, detailed tax reform plan aimed at initiating substantive discussions focused on overhauling Americaís broken tax code. The release of this draft represents a critical step forward in the process of comprehensive tax reform, a process that will benefit all Americans.

Tax Reform Déjà Vu | Commentary

House Ways and Means Committee Chairman Dave Camp, R-Mich., has unveiled his Tax Reform Act of 2014, the most comprehensive tax reform proposal in nearly three decades. The Camp plan is a bold, even radical, proposal which has shocked many members of Congress on both sides of the aisle and outraged many business interests.

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Financial Industry Warily Looks to Tea Party Conservatives for Tax Support

With Democrats and Republicans offering proposals to hit the financial sector with new taxes or fees, financial executives and lobbyists say they are re-evaluating how they will direct their political cash this election cycle and where they will seek allies on and off Capitol Hill.

Industry Group Says Fracking Could Help Ukraine

European countries seeking to ease their dependence on Russian natural gas may discover that their salvation lies deep beneath their native soil.

New York Provides EITC Test Case

Obama administration staffers working on the presidentís proposal to double the earned income tax credit availability to single childless workers could take a lesson from New York City, which last year launched a pilot program to do just that.

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Local Governments Fear Plan to Tax Bond Interest Threatens Road Funding

House Ways and Means Chairman Dave Campís proposed tax overhaul got high marks last week from federal transportation leaders for committing to prop up the ailing Highway Trust Fund, but it is drawing criticism from state and local officials who depend on municipal bonds to finance infrastructure projects.

Airport Operators Worry Tax Overhaul Would Ground Improvement Plans

In addition to worrying road builders, state highway officials and transit agencies, House Ways and Means Chairman Dave Campís tax overhaul plan has struck a nerve with airport operators.

Obama's $3.9 Trillion Budget Takes More Realistic Approach

President Barack Obamaís budget for fiscal 2015 is perhaps his most realistic to date. Grand bargains are out. Grand new proposals are out, too.

The Time Is Now for Free-Trade Agreements | Commentary

Acrimony has become one of Washingtonís defining characteristics. For almost the entirety of President Obamaís tenure, the legislative and executive branches have been at bitter odds, failing to seize big moments and enact legislation of great substance. Unfortunately, unless someone steps forward, another opportunity could soon be lost, this time, to pass free trade agreements with allies in Europe and Asia that will open markets with nearly one billion customers to American employees and employers.

Trade with Asia Will Help Revitalize the Beleaguered U.S. Economy | Commentary

While the United States economy continues to falter, some in Congress are standing in the way of a key trade vote that has the potential to benefit our stagnant economy.

Democrats Need to Support Free Trade | Commentary

Almost ten years ago under President George W. Bush, Democrats in the House and Senate voted overwhelmingly against the last controversial free trade agreement to come before Congress, the Central American Free Trade Agreement (CAFTA). Now leading Democrats in Congress are threatening to deny or delay, giving President Obama the Trade Promotion Authority (TPA) essential to complete two of the largest free trade agreements in American history, the Trans-Pacific Partnership (TPP) and the Transatlantic Partnership (TTIP). These agreements have enormous potential for creating hundreds of thousands of jobs and an almost one percent increase in U.S. GDP without adding to the deficit.

Murray Says Senate Won't Move 2015 Budget Resolution

Senate Budget Chairwoman Patty Murray confirmed Friday that the Senate will not move a fiscal 2015 budget resolution even as House Budget Chairman Paul D. Ryan began meetings with fellow Republicans aimed at crafting a House tax and spending blueprint for the fiscal year starting Oct. 1.

The Economic Case for Permitting Crude Oil Exports | Commentary

Since the gasoline shortages of the 1970s, Congress has, with only a few exceptions, barred all U.S. crude oil exports. But an energy policy that may have made sense 40 years ago no longer does. Innovative drilling techniques have spawned an oil and natural gas boom in the United States. Since oil surpluses can create as many problems as oil shortages, itís time to eliminate those export restrictions.

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For Budgeting, Tough Accounting for 'Gimmicks'

Assessments of a proposal by Senate Democrats this month to offset the cost of extending emergency unemployment benefits by temporarily reducing companiesí pension payments won rare agreement from the right and the left.

CBO Advises Retreat on War Spending

The Congressional Budget Officeís dismissal of a legislated cap on war spending marks a rare case in which the nonpartisan research arm of Congress effectively tossed out an offset as essentially mistaken accounting.

Close Corporate Tax Loopholes to Fix Holes in Our Infrastructure | Commentary

Business owners know the importance of investing to keep their companies competitive. When essential equipment breaks, they fix it if they can or replace it if they canít. They donít respond by cutting their budget for maintenance and investment. Yet thatís what Congress has done.

FTC's Data Security Grab Is Adjudication without Authority | Commentary

What happens when a government agency adjudicates without authority, assuming Congress will simply provide forgiveness, rather than ask for permission? That is the question that is being asked this week after the Federal Trade Commission petitioned Congress for powers it does not currently have regarding data breaches and cybersecurity while already exercising the very powers they seek.

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