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From the category archives: GA - Tax Relief & Fiscal Policy

The Latest on the Trump Administration: Feb. 9–15

On Feb. 9,  President Trump signed three executive orders, including: 1) directing the administration’s new Attorney General to develop a strategy to more effectively prosecute people who engage in crimes against law enforcement officers, 2) establishing a task force to reduce crime in communities across the nation, and 3) refocusing federal resources on disrupting transnational criminal organizations. Read the rest of entry »

U.S. House of Representatives and Senate Reach Deal on Omnibus, Tax Extenders

The U.S. House of Representatives and U.S. Senate have reached a deal on both the Omnibus spending package and extending certain expired tax provisions commonly referred to as “extenders.” Read the rest of entry »

Tax Season Reminds Construction Industry of High Effective Rates

Many ABC members were greeted with a significant tax increase this tax day, April 15. Construction contractors who survived the recession already paid the highest effective tax rate of any sector, and now they face even higher taxes thanks to rising marginal rates, reinstated limits on deductions, and new surtaxes on wages and income stemming from the health care law. Read the rest of entry »

Tax Proposal Would Lower Construction Tax Rate to 25 Percent

U.S. House of Representatives Ways and Means Committee Chairman Dave Camp (R-MI) Feb. 26 released a draft of legislation designed to reform the tax code that proposes lowering the top tax rate for construction businesses from 35 percent and 39.6 percent to 25 percent, regardless of entity-level structure. The proposal confirms that the 25 percent Qualified Domestic Manufacturing Income (QDMI) rate would apply to “construction of real property in the United States as part of the active conduct of a construction trade or business.” Read the rest of entry »

Study Finds Corporate-Only Tax Reform Could Hurt Small Businesses

A study completed by the Small Business Administration (SBA) found that corporate-only tax reform might cause many small businesses that file as pass-through entities to suffer the consequences of this one-sided solution. 
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Big and Small Business Coalitions Unite on Comprehensive Tax Reform

The Coalition for Fair Effective Tax Rates and the Reforming America’s Taxes Equitably (RATE) Coalition held a joint press conferenceSept. 19 to support the passing of comprehensive tax reform that would lower both individual and corporate rates and eliminate distorting tax preferences. 
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New Study Shows S-Corps Pay Highest Effective Tax Rate

Two key pass-through structures favored by small businesses pay a significantly higher effective tax rate than large corporations, according to an Aug. 7 study released by National Federation of Independent Business and the S Corporation Association, of which ABC is a coalition member.  Analysis by Quantria Strategies shows that S corps will pay the highest effective tax rate in 2013 at 31.6 percent, compared to 29.4 percent for partnerships, 17.8 percent for C-corporations and 15.1 percent for sole proprietorships.  Effective tax rates are the percentage of income businesses pay in taxes.

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White House Plan Would Mean Billion Dollar Tax Hike for Contractors, Small Businesses

The White House corporate tax reform proposal unveiled by President Barack Obama in Chattanooga, Tenn., is no ‘grand bargain,’ said ABC. Obama’s plan consists of the same corporate tax cuts proposed last year paired with new stimulus spending for infrastructure and manufacturing paid for with one-time tax revenue.
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ABC Becomes Founding Member of Group Focused on Effective Tax Rates

As part of a the Coalition for Fair Effective Tax Rates, ABC will be advocating for the use of effective tax rates—or the percentage of income businesses pay in taxes—as the clearest way to judge the impact of tax reform on businesses as Congress tackles this issue. 
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Senate Finance Committee Proposes Tax Reform Blank Slate, Asks for Input from Senators

(R-Utah) June 27 proposed a “blank slate” approach for tax reform and called on their fellow Senators to provide proposals for tax expenditures that should be added back to the tax code and improved.
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