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    Baucus Heads Wrong Way on Important Part of Tax Reform — Again

    Chairman of the Senate Finance Committee Max Baucus (D–MT) continues to release draft proposals on important parts of tax reform. His latest draft proposal is a deeply troubling plan. Baucus proposes to change the way businesses deduct the cost of their capital expenses—things such as machinery, equipment, structures, property, and … More

    Parents, Not Government, Know How to Feed Their Children

    Some Members of Congress think they are better parents than you are. Under the tax code, companies are able to take deductions for business expenses, including marketing. Recently, however, Representative Rosa DeLauro (D–CT) introduced H.R. 2831, which would prohibit businesses from taking tax deductions for marketing “food of poor nutritional … More

    Obama’s New "Grand Bargain" Is Another Tax Increase

    President Obama gave his second in series of summer speeches on the economy today. Like his first speech last week, he recycled several old policies that he’s trotted out before. The only new policy of note was another attempt at a so-called “grand bargain.” The President’s latest iteration of a … More

    Reid Throws Major Roadblock in Front of Tax Reform

    Senate Majority Leader Harry Reid (D–NV) has just thrown a roadblock in front of tax reform that could stall the strong momentum that has been building for reform. Reid said that any tax reform plan must raise significant revenue. In other words, he wants tax reform to provide cover for … More

    Phil Gramm’s Excellent Tax Reform Game Plan Has Just One Flaw

    The momentum for tax reform continues to build. Adding to it is former Senator Phil Gramm (R–TX), who wrote an op-ed in The Wall Street Journal laying out a tax reform “game plan” for Congress to follow. Gramm pretty much nails the most important things tax reform must accomplish to … More

    Baucus–Hatch “Blank Slate” Tax Reform a Positive Step but Too Narrowly Focused

    Chairman of the Senate Finance Committee Max Baucus (D–MT) and Ranking Member Senator Orrin Hatch (R–UT) recently proposed a “blank-slate” approach to tax reform. This new effort helps strengthen the growing momentum for tax reform, but it is too narrow to result in the fundamental reform to the tax code … More

    Morning Bell: What Did Apple Do Wrong?

    Members of Congress called Apple executives to testify on Capitol Hill yesterday. Why? Because the company makes money overseas, and some Senators want to get their hands on the cash. A Senate subcommittee accused the company of “shifting” profits from the U.S. to other countries and avoiding paying taxes. But … More

    House Republicans Are Right to Focus on Spending Cuts as Part of Debt Ceiling Increase

    This week, the House Republican conference met to discuss what their priority will be in connection with any vote to increase the debt ceiling. This is timely since the current suspension of the debt limit expires tomorrow. According to reports of the Republican House caucus meeting, “Members came away with … More

    Morning Bell: Where Did Your Tax Dollar Go?

    Americans are waking up today to the worst “case of the Mondays” they’ll have all year: It’s Tax Day. Most Americans dread Tax Day, and for good reasons. Beyond the huge tab Americans pay to the government, the tax code is so complex that it’s difficult to figure out what … More

    Hunting for Surprises in the Obama Budget

    It is somehow fitting President Obama released his budget for Fiscal Year 2014 after Easter, a mere 65 days late—but who’s counting? Fitting because going through Obama’s budget is like an Easter egg hunt for which those in charge of hiding the eggs are masters of their craft. It takes … More