Topics: Tax Reform

NATSO Joins Broad Industry Group in Supporting Small Business Tax Relief

NATSO joined more than 150 associations representing small business owners from every industry sector in expressing support for America’s Small Business Tax Relief Act of 2014, which seeks to restore the small-business expensing level to $500,000 and permanently index it to inflation. More

Baucus Releases Energy Tax Reform Discussion Draft

Sen. Max Baucus (D-Mont.) unveiled the latest package in a series of proposals to overhaul America’s tax code. As part of the proposal, the Senator released a discussion draft on energy tax reform and said he aims to “focus on streamlining energy tax incentives so they are more predictable and technology-neutral." More

Legislation Proposes 15-Cent Fuel Tax Increase

With a major transportation funding shortfall projected for next year, Rep. Earl Blumenauer (D-Ore.) introduced legislation on Dec. 4 to increase the federal fuel tax 15-cents per gallon over three years. Rep. Blumenauer also proposes a study into mileage-based fees to fund transportation. More

Sen. Boxer: Highway Bill Follows Tax Reform

Senate Environment and Public Works Committee Chairman Barbara Boxer (D-Calif.) is waiting for action on tax reform legislation before proceeding with the transportation bill. Sen. Boxer and Senate Finance Committee Chairman Max Baucus (D-Mont.) have said that tax changes are needed to fix the Highway Trust Fund. Proposals being discussed include increasing the federal gas tax or implementing another fee that would go towards highway programs. More

Rep. Shuster Believes Tax Bill Key to Infrastructure Funding

House Transportation and Infrastructure Committee Chairman Bill Shuster (R-Pa.) said Sept. 11 that a comprehensive tax code rewrite could be the solution to fixing the insolvency of the Highway Trust Fund, according to BNA. More

Senate Finance to Revamp U.S. Tax Code

Senate Finance Committee Chairman Max Baucus said his committee will consider revamping the U.S. tax code this year to lower tax rates and broaden the tax base. Similar efforts are underway in the U.S. House of Representatives, where Ways and Means Committee Chairman Dave Camp (R-Mich.) is pushing a tax rewrite. More

IRS Accepting Electronic Filings for Motor Fuel Excise Tax-Related Claims

The Internal Revenue Service announced that it has finished updating its tax-processing system software allowing business and individual taxpayers to once again electronically file 2012 federal tax returns, including motor fuel excise tax returns, biodiesel credit claims as well as alternative fuel and alternative fuel mixture credits and income tax returns. More

House Approves H.R. 8 to Extend 2001 and 2003 Tax Rates

The U.S. House of Representatives last week voted 256 to 171 in favor of H.R. 8, the “Job Protection and Recession Prevention Act,” which would extend the 2001 and 2003 tax rates through 2013. More

Small-Business Tax Break Fails to Move Forward

The Senate failed to end debate on the Small Business Jobs and Tax Relief Act last week. S. 2237 would extend write-offs for capital investment and award a 10 percent tax credit to companies that add workers to their payrolls or increase wages. More

Tax Extenders Package Update

NATSO and others have advocated an extension of the biodiesel blenders tax credit that expired last year. More

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