Time to Reform the Corporate Tax System?

May 9, 2006

At 2:00pm today, the House Ways and Means Committee begins much-needed hearings on reforming the U.S. corporate tax system. The hearing advisory describes the focus of the hearings this way:

The purpose of this hearing is to understand how tax-preference items within the corporate tax code reallocate the tax burden and whether these shifts are beneficial or detrimental to the U.S. economy. Of specific interest is to understand how the current system affects a company’s decision of where and how to invest in technology, equipment and people.

Over the years, we’ve done an enormous amount of research on the corporate income tax—see our “Corporate Income Taxes” section for a sampling of papers we’ve made available online.

Over the last few days we’ve released four new “Fiscal Facts” in conjunction with the House Ways and Means hearings:

Fiscal Fact No. 55: U.S. Lagging Behind OECD Corporate Tax Trends

Fiscal Fact No. 56: Growing Amount of Business Income Taxed by the Individual Income Tax Code

Fiscal Fact No. 57: Surge in Corporate Income Tax Collections Offers Opportunity for Tax Reform

Fiscal Fact No. 58: Options for Reforming the U.S. Corporate Income Tax

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