Home/Tag: tax expenditures

Anti-Tax Reform in the President’s Budget

The President’s budget is out, and for the second year in a row it seeks to redefine tax reform to fit its own purposes.

The vast majority of policymakers view tax reform as embracing two fundamental goals:

  • Increased simplicity for both taxpayers and the IRS; and
  • Lower marginal tax rates imposed on a broader base of income.

The President’s budget , however, would take us in exactly the opposite direction. Rather than simplify the tax code, it would make it more complicated, and rather than move towards lower rates and a broader base of income, it would selectively lower and/or raise rates based

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2019-02-01T20:08:24+00:00April 11, 2013|

Treasury Targets S Corporations, Flow-Throughs

A Bloomberg article from Friday morning has been flying around tax policy circles here in D.C. and elsewhere. From the article:

The Obama administration is seeking to widen the scope of its proposal to overhaul the corporate tax code, urging Congress to also change rules that allow some businesses to take advantage of tax laws governing individuals.

The article cites testimony by Secretary of the Treasury Tim Geithner earlier this year in which he advocated “revisiting” long-standing rules allowing businesses to choose to be taxed as S corporations or partnerships. According to Geithner:

“Congress has to revisit this basic question about whether it

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2019-02-01T20:48:06+00:00February 28, 2011|

Tax Relief Bill Negotiations Proceed

Today’s Congress Daily includes a number of points about the conference between House and Senate negotiators:

  • “One source said April 25 it appears House negotiators will be willing to accept at least some of the offsets that were included in the Senate’s bill.”
  • “It also appears that negotiators are simultaneously working out the details of a second bill of tax break extenders that will be dropped from the reconciliation bill, the source said.”
  • “Pressure from the leadership and administration remains on conferees, Senate Finance Committee Chairman Charles Grassley (R-Iowa) said April 24, but he added that it was unclear whether a deal could

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2019-02-06T18:47:20+00:00April 26, 2006|