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Congressional Research Service Reports
Tax Cuts on Repatriation Earnings as Economic Stimulus: An Economic Analysis
Date: May 27, 2011
Creator: Marples, Donald J.
Description: From the start of the 112th Congress, reform of the current U.S. corporate tax system has been widely debated as an option to stimulate the economy. Most of the debate has focused on lowering the corporate tax rate and moving towards a territorial system. An exception to this is a plan to reduce the tax rate on repatriated dividends that has received some consideration. Under such a plan, the U.S. tax that U.S. firms pay when their overseas operations remit ("repatriate") their foreign earnings as dividends to their U.S. parent corporations would be reduced. Variations of this type of proposal have been introduced in several bills, including H.R. 1036, H.R. 1834, and S. 727, in the 112th Congress.
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Permallink:digital.library.unt.edu/ark:/67531/metadc40070/
“Amazon” Laws and Taxation of Internet Sales: Constitutional Analysis
Date: July 26, 2012
Creator: Lunder, Erika K.
Description: This report covers ways in which states are attempting to capture taxes on Internet sales. Two basic approaches include imposing tax collection responsibilities on the retailer, and requiring remote sellers to provide tax information to the state and/or it's customers. This report covers the legality of both options.
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Permallink:digital.library.unt.edu/ark:/67531/metadc99071/
Harbor Maintenance Trust Fund Expenditures
Date: January 10, 2011
Creator: Frittelli, John
Description: In 1986, the Harbor Maintenance Tax (HMT) was enacted to fund U.S. Army Corps of Engineers' (USACE or the Corps) activities related to the routine operation and maintenance (O&M) of harbors, namely the dredging of harbor channels to their authorized depths and widths. Economic and equity issues related to HMT expenditures and collections are the main focus of this report. Before analyzing these issues, the report reviews the legislative history of the tax and legal challenges to it, discusses the advantages and disadvantages of alternative funding mechanisms, and describes the commercial context of current dredging activity. The last section identifies legislation related to harbor maintenance funding.
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Permallink:digital.library.unt.edu/ark:/67531/metadc31466/
Tax Reform: An Overview of Proposals in the 112th Congress
Date: May 31, 2012
Creator: Bickley, James M.
Description: This report gives an overview of tax reform issues. The President and leading members of Congress have stated that fundamental tax reform is a major policy objective for the 112th Congress. Some Members have said that fundamental tax reform is needed in order to raise a large amount of additional revenue, which is necessary to reduce high forecast budget deficits and the sharply rising national debt. Congressional interest has been expressed in both a major overhaul of the U.S. tax system and the feasibility of levying a consumption tax.
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Permallink:digital.library.unt.edu/ark:/67531/metadc87163/
Tax Reform: An Overview of Proposals in the 112th Congress
Date: October 26, 2012
Creator: Bickley, James M.
Description: This report gives an overview of tax reform issues. The President and leading members of Congress have stated that fundamental tax reform is a major policy objective for the 112th Congress. Some Members have said that fundamental tax reform is needed in order to raise a large amount of additional revenue, which is necessary to reduce high forecast budget deficits and the sharply rising national debt. Congressional interest has been expressed in both a major overhaul of the U.S. tax system and the feasibility of levying a consumption tax.
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Permallink:digital.library.unt.edu/ark:/67531/metadc122206/
Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects
Date: August 14, 2012
Creator: Guenther, Gary
Description: This report examines the current status, legislative history, and economic effects of the two expensing allowances (Section 179 and Bonus Depreciation Allowance) and also discusses initiatives in the 112th Congress to modify them. Expensing is the most accelerated form of depreciation for tax purposes. Section 179 of the Internal Revenue Code (IRC) allows a taxpayer to expense up to $125,000 of the total cost of new and used qualified depreciable assets it buys and places in service in 2012, within certain limits. In addition, Section 168(k) generally allows taxpayers to expense half the cost of qualified assets bought and placed in service in 2012.
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Permallink:digital.library.unt.edu/ark:/67531/metadc122284/
The Corporate Income Tax System: Overview and Options for Reform
Date: September 13, 2012
Creator: Keightley, Mark P.
Description: This report (1) briefly reviews the current U.S. corporate tax system; (2) discusses economic factors that may be considered in the corporate tax reform debate; and (3) presents corporate tax reform policy options, including a brief discussion of current corporate tax reform proposals.
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Permallink:digital.library.unt.edu/ark:/67531/metadc122253/
Major Decisions in the House and Senate on Social Security: 1935-2010
Date: January 12, 2011
Creator: Sidor, Gary
Description: This report responds to the many inquiries that CRS gets for Social Security vote information, which range from requests for general information about legislative action over the years to requests for information about specific floor amendments. It is intended to be a reference document on the major statutory decisions made by Congress on the Social Security program. A detailed table of contents and a summary table of the legislation discussed are provided to aid the reader.
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Permallink:digital.library.unt.edu/ark:/67531/metadc122280/
Raising the Tax Rates on High-Income Taxpayers: Pros and Cons
Date: November 5, 2010
Creator: Noto, Nonna A.
Description: This report focuses on the debate over whether the top two marginal tax rates should be permitted to rise back to their 2001 levels, once the temporary tax provisions known as the "Bush tax cuts" expire on December 31, 2010. The report discusses arguments for and against raising the tax rates.
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Permallink:digital.library.unt.edu/ark:/67531/metadc29628/
Reducing the Budget Deficit: Tax Policy Options
Date: May 17, 2011
Creator: Sherlock, Molly F.
Description: This report analyzes various revenue options for deficit reduction, highlighting proposals made by the President's Fiscal Commission and the Debt Reduction Task Force. Others, such as House Budget Committee Chairman Paul Ryan and the Obama Administration, have noted the importance of tax reform as part of a deficit reduction plans. These plans, however, do not provide the same level of detail as the Fiscal Commission and Debt Reduction Task Force, and are therefore not reviewed in detail as part of this report.
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Permallink:digital.library.unt.edu/ark:/67531/metadc40119/