79 results for tag: Tax Reform


Americans ready for tax reform, survey says

  U.S. tax-policy reform is on the forefront of Americans minds this year, according to a recent survey – which is not surprising as real-unemployment numbers remain abysmal and Americans continue to tighten their belts. CNBC has the story: That's the finding of a recent survey of 1,040 individuals conducted by WalletHub, a provider of free credit scores and reports. Nearly 57 percent of participants said that "tax fairness" — what people should pay and how much — was more important than "whatever is best for the economy," which garnered close to 23 percent… "Consumers are spending more than they should over the past few ...

Iowa farmer, former state rep: ‘[N]avigating the cumbersome tax code takes time away from our livelihood’

Former Iowa state representative and third-generation family farmer Annette Sweeney in a recent opinion piece says members of Congress need to join together and fix our unnecessarily intricate tax code. Lawmakers in Washington, D.C. have no excuse for not simplifying what should be a simple process, she says. The Des Moines Register has the details: I proudly represented the people of Iowa in the state Legislature for four years and I heard many complaints about our outdated tax system. Throughout the year, taxes are of major concern for Iowans; farmers file on March 1, individuals on April 15, and small business owners pay taxes every quarter. ...

Conservative House caucus recommends ‘flatter, fairer and simpler tax code’

The U.S. tax code – at nearly 75,000 pages in length, according to The Washington Examiner – is exactly the type of bureaucratic web Congress needs to unweave. And, while Americans are bright enough to negotiate the ins and outs of the convoluted system, we shouldn’t have to spend time and resources navigating an agency continually used to target Americans for their political beliefs. Fortunately, the Republican Study Committee in a recent statement called for an overhaul of the wayward agency. “The RSC’s recommendations seek to create a flatter, fairer and simpler tax code. Recommendations include developing a business tax code that is ...

House Ways and Means Chairman: We plan to lay out ‘comprehensive blueprint on where we want the tax code to go’

House Ways and Means Committee Chairman Kevin Brady during The Atlantic Summit Wednesday told Bloomberg View columnist Margaret Carlson that his committee is exploring numerous pro-growth tax plans to roll out by the close of 2016. The Daily Caller has the scoop: “What we expect to do is to lay out, later this summer, a comprehensive blueprint on where we want the tax code to go with a number of details,” [Brady] said. ” And also, sort of lay out how we can get there.” The panel has seen a number of proposals varying from flat taxes, consumption taxes to cash-flow taxes in recent months. Brady praised former Chairman Dave Camp, ...

Columnist: ‘Work should be rewarded, not punished’

A writer and activist lobbying for right-to-work laws in Michigan criticized the status quo at the IRS and is pushing for a simpler tax code – one that doesn’t bog down hardworking American taxpayers. The Detroit News has the commentary: It’s a complex and corrupt system, now consisting of thousands of pages of instructions and explanations. But it doesn’t have to be this way. As government’s appetite for spending continues to grow, so do the taxes on workers and job providers. Why does Washington penalize workers and employers for earning and creating wealth? … If you are not an accountant, a professional lobbyist, or a politi...

Report: Americans in 2016 will pay Uncle Sam more than they’ll spend on clothing, food, housing

  The Tax Foundation in its annual report released Wednesday says by April 24 Americans will have earned enough money to pay their taxes for the year and that – collectively – Americans this year will spend more paying Uncle Sam than they will on clothing, food and housing combined. The Washington Examiner lists some of the key findings: — Collectively, Americans will spend more on taxes in 2016 than they will on food, clothing, and housing combined. — Americans will pay $3.3 trillion in federal taxes and $1.6 trillion in state and local taxes, for a total bill of almost $5.0 trillion, or 31 percent of the nation's income. ...

Survey: Tax experts in D.C. doubtful tax reform will happen in 2016

  Tax experts believe no comprehensive tax reform will take place this year, according to a survey of about 120 industry executives. Morning Consult has the story: The National Foreign Trade Council and the law firm Miller & Chevalier Chartered, both based in Washington, conducted the survey of tax executives, which found widespread uncertainty about even the possibility of Congress passing comprehensive tax reform in the coming years. “While there’s hope that changes in presidential and congressional leadership will have a positive impact on tax reform, respondents are still unsure whether such reform will actually happen,” ...

Congressional legislators spar over ways to reform tax code

Republican lawmakers Tuesday in front of the House Subcommittee on Ways and Means Tax Policy delivered proposals during the first of several hearings on ways to reform our outdated tax code but differed on how to overhaul the system. The Daily Caller has the story: Members of the panel on both sides of the aisle agreed the country’s tax code is broken, but squabbled over how to best tackle the issue. “We are saddled with a code that is littered with exclusions, deductions, and special rules,” Subcommittee Chairman Charles Boustany of Louisiana said at the start of the hearing. “The code is so complex that Americans devote billions of ...

University uses taxpayer funding to buy custom Snuggies, trip to Hawaii

Taxpayer money in the form of federal grant funding went to purchase custom embroidered Snuggies and a trip to Hawaii for the University of Washington. An audit last month found the absurd expenses paid for with taxpayer dollars that had been allocated for scientific research. The Washington Free Beacon reports: Taxpayer-funded National Science Foundation grants were used to purchase Snuggies, pottery, and a trip to Hawaii. The agency’s inspector general audited the University of Washington and found millions in unallowable salary costs, and numerous examples of “unreasonable transactions” from funds intended for scientific research...

Congressman: Tax-reform ‘unlikely’ to be enacted this year

The chairman of a House Ways and Means subcommittee says chances are slim this year that tax reforms will be voted into law because of opposition from the Senate and from the White House. The Hill has the inside story: “It’s probably unlikely given the short timeline we’ve got, given the occupant in the White House, and also dealing with the Senate,” said Rep. Charles Boustany (R-La.), the chairman of the House Ways and Means Committee’s tax policy subcommittee. Still, Boustany said he aims for his subcommittee to write an international tax reform bill this year and see how far it can move. “We cannot sit back and wait for ...