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Innovation was missing from the first presidential debate. So was utilizing the power of technology as a foundation for a stronger economy. And, other than a few of areas of agreement on taxes and education, the debate was devoid of new ideas and bold approaches to create jobs and get America moving again. Both candidates repeated the well-rehearsed points that we consistently hear on the campaign [...]
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Today in the Detroit News, ITI President & CEO Dean Garfield has an op-ed focused on the corporate tax debate -- looking at the areas that President Obama and Governor Romney agree on tax reform and the bipartisan support that is growing for a competitive, market-based system. And he compared those cooperative discussions to the partisan show that claimed to be a Senate hearing last month, chaired [...]
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On Thursday, a pair of Congressional hearings will focus attention on the critical need for tax reform. We hope the hearings will not only examine the problems with our current antiquated tax system, but also look at potential solutions. At one hearing, Senator Carl Levin of Michigan will hear from several tax policy experts, government administrators, and business tax planners, including ITI members [...]
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President Obama and Governor Romney each have put forward plans to reform the corporate tax structure. Many of their top advisors, key members of Congress, and a majority of the Simpson-Bowles Bipartisan Deficit Reduction Commission, among others, have recommended a shift to a lower corporate rate and a competitive, market-based international tax system. But getting from policy ideas to actual law [...]
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Critics of a competitive market-based or territorial tax system are latching onto a study out today by NerdWallet -- a personal finance website that features recommendations on things like credit card rates and gas prices -- as the latest “evidence” that corporate tax reform really isn’t necessary. The study claims that ten of America’s top economic champions -- including Apple, IBM, and Microsoft [...]
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The Senate Finance Committee today gave strong bipartisan support to legislation that would strengthen the U.S. economy and help American businesses to create jobs at a time when we really need it. The so-called “tax extenders package” would renew important provisions that support U.S. job creation – provisions that Congress allowed to lapse last December. Led by Chairman Baucus and Ranking Member [...]
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The chorus of voices calling for a competitive U.S. tax code to spark job growth and economic investment is growing stronger by the day. Add Bloomberg to the choir. Its editorial published Sunday night makes clear that the political hyperbole around tax reform isn’t creating jobs. What will is actual tax reform – and the adoption of a lower corporate rate and a competitive territorial system should [...]
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There’s been a lot of heated rhetoric this week about “territorial” taxation, but one fundamental fact is clear: a competitive territorial tax system would help spark job creation and business investment in America. Unfortunately, the rhetoric has badly misinformed the American people about what the real facts are. Here are the key points to keep in mind: The United States has the highest corporate [...]
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At TechElect, we love substantive policy debates, and Alan Beattie’s piece in today’s Financial Times on the presidential candidates’ approaches to corporate tax reform tax reform certainly fits the bill. TechElect has already compared the candidates’ competing tax plans, and we applaud the FT’s deep dive into both presidential candidates’ positions on tax reform. TechElect finds much to agree on [...]
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A House subcommittee hearing today focused on the issue of extending temporary business tax measures that influence investment and business decisions in the U.S., and ITI pressed for quicker action by the Congress to move the legislation into law. ITI’s Bret Wincup takes a look at the issues, and you can see the formal statement that ITI provided to the subcommittee. In recent months, there has been [...]
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