Taxes Legislative Alerts
On October 11, Thomas Barthold, chief of staff of the Joint Committee on Taxation (JCT) sent a letter to Senators Max Baucus and Orrin Hatch. The letter detailed a hypothetical tax policy experiment that Barthold designed in which a number of tax credits and deductions were eliminated along with simultaneous decreases in the personal income rates.
AFP is strongly opposed to proposals to shift taxing authority to the SSUTA because these proposals have serious logistical, economic and constitutional flaws.
As the nation gets draws nearer to the fiscal cliff, House Budget Committee ranking member Chris Van Hollen (D-Md.) just reintroduced his proposal to stop the $109 billion in planned spending cuts (known as the sequester) reached under the Budget Control Act last summer. In traditional tax-and-spend liberal fashion, it’s heavy on tax hikes and [...]
A new report by the Department of Energy (DOE) distorts the facts, giving policymakers political cover to extend illogical subsidies for a favored industry. With the wind Production Tax Credit (PTC) set to expire at the end of the year, proponents of the handout have been scrambling to find any data they can to support their losing arguments. There to help policymakers in their feeble efforts is DOE Secretary Steven Chu. His agency has now released a full report filled with all the misleading information needed to defend the worthless wind PTC for yet another year.
While Congress and the President currently debate the best path to hold off the upcoming fiscal cliff, many states across the country have already tackled similar challenges this year. Some states took up the challenge of passing tax reform, but others decided to follow failed tax-and-spend policies. The hard-fought battles for lower tax rates and broader tax bases will benefit taxpayers and businesses struggling in this weak economic recovery. Instead of applauding these changes, opponents have relied on a faulty analysis to claim that lower taxes do not promote economic growth.