On the Hill: No tax return investigation; further review for ACA. The House Ways & Means voted not to investigate President Trump’s tax returns. The White House’s We the People petition site continues to host a call for public release of Trump’s returns. That petition has secured over 750,000 signatures. Meanwhile, GOP House members plan to meet tomorrow to discuss plans for the repeal and replacement of the Affordable Care Act.
Paul Ryan spent yesterday selling a border adjustable tax to Senate Republicans. But Politico reports key GOP lawmakers were not buying. The most optimistic responses reporter Bernie Becker got from senators were all variations on, “We still have to be convinced.”
A new member of the Ways & Means Committee. Republican Mike Bishop of Michigan will replace Tom Price, who Congress confirmed last week as Secretary of the Department of Health and Human Services.
What could Congress do with revenue from a carbon tax? When a group of well-respected Republican policy experts proposed a carbon tax last week, they suggested the revenue be rebated to families. TPC’s Howard Gleckman notes that there are many other uses for the money, which could add up to well over $1 trillion over a decade.
Los Angeles County voters need to decide on a quarter-cent sales tax. The tax would support a range of strategies to support the county’s homeless or at-risk populations. On March 7, voters will decide on Measure H, which would raise the sales tax to 9 percent and direct an estimated $3.55 billion for homeless programs over 10 years. The ballot measure needs a two-thirds majority to pass.
Advocates of Mexico’s soda tax: Targets of a hack? The phones of Mexico’s National Institute of Public Health’s director of nutrition policy and the director of a foundation committed to reducing obesity were infected by spyware developed by an Israeli cyberarms dealer. The dealer insists it sells its software only to governments for criminal and terrorism investigations. The hack occurred at around the same time the soda tax advocates were working on a mass media campaign to build support for doubling the soda tax. That effort stalled in Congress last November.
Are UK businesses abusing self-employment tax laws? Matthew Taylor, who leads Prime Minister Theresa May's inquiry into employment practices, says that businesses are using self-employment laws to avoid tax. A complicated tax system and ambiguous interpretation of tax laws means have led to some businesses using “gig” workers to avoid paying contributions to the Treasury, he said.
A new tax-friendly hub for startups? Latvia wants to be an attractive home for startups. The country will cover the social and personal taxes of employees with a PhD or Master's degree or more than five years' experience. Those employees would receive full social benefits.
Interested in subscribing to the Daily Deduction, the Urban-Brookings Tax Policy Center summary of the day’s tax news? Sign-up here to get the Daily Deduction delivered to your inbox every morning. If you’d like to tell us about a new research paper or have any comments about our feature, write us at dailydeduction “at” taxpolicycenter “dot” org.
Posts and Comments are solely the opinion of the author and not that of the Tax Policy Center, Urban Institute, or Brookings Institution.
- © Urban Institute, Brookings Institution, and individual authors, 2016.