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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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Hollywood’s movie magic historically begins with the bark of “Lights? Camera? Action!” Last night, President Barack Obama urged Congress to join him in “a year of action,” and Congresswoman Cathy McMorris Rogers (R-WA), in her response, echoed that sentiment with a call for “real action.” It appears there is growing hope for some policy magic on both ends of Pennsylvania Avenue. We at ITI agree [...]
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As President Barack Obama prepares to deliver the State of the Union address tomorrow night, many reporters, political experts, and pundits are whirling about, attempting to predict the substance of the speech. Meanwhile, we here in the tech sector see this speech as a chance to outline an agenda of opportunity – a chance for policymakers to create economic opportunity for our country. Here are 10 [...]
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The 113th Congress is poised to have a second half that is potentially as spectacular and certainly more significant than the historic comeback by the Indianapolis Colts in the National Football League playoffs this past weekend. Much like the football analysts on ESPN, the policy punditocracy have given up on the prospect for any real productivity from this Congress. We in the tech sector, however, [...]
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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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This week’s House and Senate vote on a short-term deal to re-open the government and extend the federal debt ceiling was the symbolic equivalent of a stroke victim taking his first few tentative yet positive steps in rehab. It’s not a perfect metaphor to describe the legislative paralysis that has gripped Washington, but it works when we think about what Congress needs to do going forward. With congressional [...]
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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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Prior to participating in a discussion with employees at Intel Corporation in Santa Clara, Calif., House Ways & Means Chairman Dave Camp and Senate Finance Chairman Max Baucus were given a brief tour of the Intel Museum. Among the many innovations created by this iconic company was the 386 microprocessor, a 32-bit chip that made it possible for personal computers to run more than one software application [...]
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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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