A new report suggests Canada’s tax rates are “uncompetitive” and are impairing innovation when compared to other similar countries, including the United States. The report, Taxes, Innovation, and Productivity Growth, released by the Fraser Institute on Feb. 7, found that innovation in Canada, which it called “a key driver of higher living standards,” has declined…
Corporate Tax Hike in Inflation Reduction Act Could Jeopardize Low-Income Housing Program: Analysts
August 24, 2022
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A corporate tax increase embedded in what critics are calling the “deceptively named” Inflation Reduction Act (IRA) could imperil as much as $8 billion a year in low-income housing funds, according to experts. The low-income housing tax credit (LIHTC) is a dollar-for-dollar tax deduction introduced during the Reagan administration. It has helped create and rehabilitate…
NTD Business Full Broadcast (April. 7)
Small business groups are calling for tough antitrust laws against Amazon, NTD talks to businesses and experts to get their take. The U.S. trade deficit reaches a record high in February. A large amount of crude oil imports resulted in the first petroleum deficit in over a year. Restaurants across the nation are seeing shortages…
Treasury Report on Biden’s ‘Made in America’ Tax Plan Shows Corporations on the Hook for Trillions
The Treasury has released a detailed report on President Joe Biden’s “Made in America Tax Plan,” which has the administration putting corporate America on the hook for the tab for the sweeping $2.25 trillion infrastructure package, through measures that include reducing opportunities—such as investing offshore and shifting profits—for corporations to pay lower taxes. The report…
Biden’s Corporate Tax Hike Would Cut Jobs, Reduce Wages, Depress Growth: Think Tank
President Joe Biden’s plans to raise the corporate tax rate would have a chilling effect on economic growth, depress wages, and lead to job losses, according to the Tax Foundation, a tax policy nonprofit. Biden and congressional lawmakers have proposed several changes to the tax code, including raising the corporate tax rate to 28 percent…
Biden Corporate Tax Hikes Will Send Jobs Overseas
Commentary President Joe Biden has proposed $4 trillion in tax increases on American families and businesses. While Biden touts his tax hike plan as a way to ensure corporations “pay their fair share,” the proposal will harm the U.S. economy at a time that it is recovering from the Coronavirus pandemic. These tax hikes will…
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