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

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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New Website Seeks Feedback from Public on Tax Reform

Rep. Dave Camp (R-Mich.) and Sen. Max Baucus (D-Mont.) May 9 launched a new website, taxreform.gov, and a Twitter feed,@simplertaxes, to gather feedback from the public on tax reform. 
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Tax Committee Report Singles out ABC’s Proposal for CCM

The Joint Committee on Taxation May 6 released a report summarizing the findings and comments obtained from 11 working groups that were formed by the tax-writing Ways and Means Committee related to tax reform. The report is a part of an effort to overhaul the U.S. tax code.
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Top Priorities for Tax Reform: Parity, Simplicity and Certainty

ABC April 15 sent a letter to the U.S. House of Representatives Ways and Means Committee Tax Reform Working Group on Small Business outlining its top priorities for comprehensive tax reform.  In the letter, ABC listed its broader priorities for reforming the tax system as parity, simplicity and certainty. 
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ABC Calls Attention to New Taxes in Health Care Law

In response to a U.S. House of Representatives subcommittee hearing on the tax provisions contained in the Patient Protection and Affordable Care Act (PPACA), ABC sent a letter that called attention to several provisions that will affect ABC members, including the additional Medicare taxes on wages and investment. 
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Congress Braces for Sequestration

With across-the-board cuts to federal spending scheduled to begin on March 1, the White House and congressional leaders this week sparred over the origin, impact and alternatives to the so-called "sequester" mandated by the Budget Control Act of 2011.  Absent Congressional action, the $85.3 billion in cuts will be evenly split between defense and non-defense spending, and spread broadly to virtually every program and project.

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