About the Taxes and the New Economy (TNEW) Working Group
A decade ago there was no Uber, no Bitcoin, no Kickstarter, no Alexa, no Venmo, no Car2Go, no WeWork, no Lyft, no Airbnb, no Netflix streaming, and no 3D printing. The emergence of these companies, apps, the sharing economy, and peer-to-peer networks have revolutionized jobs and the economy but they have also collided with antiquated tax structures.
The questions we’ve gotten at the Tax Foundation from policymakers in nearly every state have been:
- How should we tax new and emerging industries?
- Should we apply sales tax, a high excise tax, or no tax at all?
- Should we equalize tax rates?
- Are these new businesses equivalent?
- Does this tax exist because it’s rent, it’s on out-of-staters, or because we haven’t updated the statute yet?
The Tax Foundation’s Taxes and the New Economy Working Group provides an intimate setting for business and tax policy leaders to strategize about the best way to engage in how policymakers should tax emerging industries and to ensure principled policy happens when doing so.
Advocating for Principled Tax Policy
In 2019, we are launching a large-scale campaign to help state and local officials in their efforts to modernize their tax systems, while making the case against punitive or antiquated taxes when they violate the principles of good tax policy and harm innovation and economic growth.
This project will encompass the Tax Foundation’s ongoing work analyzing taxes on online travel services, rental cars and car sharing, digital goods and services, data and downloads, and online crowdfunding and investing.
Our team will use a three-step process to guide states
- Educate on the need for a thoughtful approach to taxing the new economy
- Maintain a repository of information on state actions
- Help states and localities individually find solutions
In order for this effort to be successful, we need your help.
How Can I Get Involved?
If you’re interested in working more closely with Tax Foundation experts to:
- Help policymakers understand the purpose of sales and excise taxes and the merits of broad-based, low-rate taxes free of punitive taxes on particular goods or services
- Make a principled, factual case against efforts to expand antiquated and harmful special taxes to the new economy
- Provide solutions to policymakers seeking to reduce tax complexity and burdens in advance, rather than playing catch up
Then click the link below to sign up for our TNEW Working Group.