Policy decisions about borrowing and spending have generated out of control deficits and spiraling debt at all levels of government. Partisan politics have frequently led to impasse as one-side refuses to compromise with the other. If a sensible non-partisan tax policy is not enacted, high tax rates and profligate spending will continue to drive individuals and businesses into the red and leave Americans without jobs.
On Monday, the Senate Appropriations Committee will vote on the “California Tobacco Tax Act of 2014,” a bill introduced by Senator Kevin de Leon that would increase taxes on cigarettes to pay for health care programs.
Last week, the Senate overwhelmingly voted to pass the “Marketplace Fairness Act,” better known as the Internet sales tax, 69-27. Framed as a move toward “leveling the playing field,” the bill has sparked some debate among Republicans.
California school and community college boards can increase local revenues for their schools through a parcel tax. These are voter-approved tax increases on property.
Released by the Associated Press on Friday, an inspector general’s report regarding the IRS revealed the agency had improperly targeted conservative-leaning groups that were filed tax-exempt under section 501(c) of the Tax Code.
On Thursday, May 2, the state Senate Governance and Finance Committee approved SB 209 in a 6-1 vote. The bill would protect thousands of small businesses in California from paying 4 years of retroactive taxes.
Eric Swalwell’s (D-CA) H.R. 952, the “Main Street Revival Act,” would allow new small businesses to defer first year business taxes over a 4 year installment plan. On Wednesday, the bill got a new co-sponsor, from Rep. Chris Collins (R-NY)…
Tax reform will take center stage in Congress this year and two major contenders are the FairTax and a value added tax, or “VAT.” The two are commonly commingled and misunderstood.
