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Tax Policy to Bridge the Coronavirus-Induced Economic Slowdown
Tax policy can help by giving businesses current access to future tax “assets”—deductions and credits the businesses will be allowed or owed over time any way under current law—instead of making them wait.
Congress Approves Economic Relief Plan for Individuals and Businesses
The CARES Act, now signed into law, is intended to be a third round of federal government support in the wake of the coronavirus public health crisis and associated economic fallout, following the $8.3 billion in public health support passed two weeks ago and the Families First Coronavirus Response Act.
Reviewing the Benefits of Full Expensing for the Post-Pandemic Economic Recovery
One of the most cost-effective policy changes would be to make full expensing of machinery and equipment permanent and extend this important tax treatment to structures as well as for firms in a net operating loss position.
Empirical Evidence Shows Expensing Leads to More Investment and Higher Employment
The Tax Foundation’s General Equilibrium Model suggests that allowing businesses to immediately deduct or “expense” their capital investments in the year in which they are purchased delivers the biggest bang for the buck in spurring economic growth and jobs compared to other tax policies.
Attracting Manufacturing to the U.S. Should Start with Neutral Tax Treatment, Not Subsidies
Before considering industry-specific laws and subsidies for onshoring, policymakers should make sure the U.S. tax code is not biased against domestic investment in the first place.
How the CARES Act Fixed a Tax Bias Against Green Investment
One under-discussed part of the CARES Act, passed in March to provide economic relief during the COVID-19 epidemic, is a correction to a drafting error in the Tax Cuts and Jobs Act of 2017, often known as the “retail glitch.”