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Wednesday, May 15, 2013

Taxes

News                                                                                                                             
Politico | In support of tariff reform
When talking with small-business owners and manufacturers in our home states, they often voice the same concern: The system in Washington is stacked against them. Whether it’s an overly complicated Tax Code or regulations that are interpreted too broadly, small-business owners often wonder whether government is really on their side.

Econ Comments & Analysis                                                                                            
Fortune | What's missing from tax reform debate: A level playing field
Businesses organized as partnerships account for 35% of all sales. So why are we taxing them at higher rates than other corporations?
Forbes | Federal Tax Reform? Don't Bet The Rent Money On It
In some years there are no budgets. This year we have been presented with 3 dueling budgets, one from each house and one from the President. Neither house has picked conferees, and neither has any current inclination to do so. Each prefers to glare at the other until the next election day.
LA Times | The real IRS scandal
Allowing so many 'social welfare' groups to enjoy tax-exempt status while participating in politics must stop. The IRS is obligated to scrutinize applicants, 'tea party' or no.
CRS | The Child Tax Credit: Economic Analysis and Policy Options
At the beginning of 2013, Congress enacted the American Taxpayer Relief Act of 2012 (ATRA; P.L. 112-240) which made certain modifications to the child tax credit enacted in 2001 and 2003 permanent, while extending other modifications made in 2009 temporarily for five years (through the end of 2017).
AEI | What Congress should do about IRS Tea Party bias
The Internal Revenue Service dropped a bombshell last Friday, admitting that some of its employees had singled out Tea Party groups' 501(c)(4) applications for extra scrutiny. In responding to the scandal, the first step, of course, will be to identify and discipline those who engaged in wrongdoing.

Blogs                                                                                                                             
Heritage Foundation | Tax Reform: Ways and Means Committee Takes Another Step
The House Ways and Means Committee took another necessary step toward tax reform with a report requested from and issued through the Joint Committee on Taxation (JCT).