Taxes and Budget
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As nations engage in a race for global advantage in innovation, ITIF champions a new policy paradigm that ensures businesses and national economies can compete successfully by spurring public and private investment in foundational areas such as research, skills, and 21st century infrastructure. In the area of tax and budget policy, ITIF focuses on how tax policy and budgets can boost investment, competitiveness, and economic growth.
Featured
Twelve Tax Reforms to Spur Innovation and Competitiveness
U.S. tax policy needs to prioritize innovation and competitiveness—especially as China rapidly gains ground as a leading innovator in advanced industries.
More Publications and Events
December 20, 2024|Blogs
R&D Under Attack: How the Loss of Immediate Expensing Reduces Innovation Inputs
It is time for Congress to restore the immediate expensing of R&D expenditures by passing the Tax Relief for American Families and Workers Act of 2024.
September 25, 2024|Knowledge Base Articles
To Do: Create a Super CHIPS Credit
Congress should create a Super CHIPS Tax Credit for advanced-industry R&D and production firms’ purchases of machinery, equipment, and buildings.
September 25, 2024|Knowledge Base Articles
To Do: Expand the R&D Credit for Pre-Profit Start-Ups
Congress should expand the refundable R&D credit to allow pre-profit start-ups to cover payroll taxes.
September 20, 2024|Knowledge Base Articles
To Do: Impose Mirror Taxes on Countries With Digital Service Taxes
Congress should amend the Internal Revenue Code to allow authorities to impose mirror taxes on countries imposing Digital Service Taxes on U.S. firms.
August 19, 2024|Knowledge Base Articles
To Do: Extend the Semiconductor-Sector Investment Credit
Congress should extend the semiconductor-sector investment tax credit introduced in the CHIPS Act through the end of the decade.
July 18, 2024|Blogs
The Digital Services Tax Will Not Be Good for Canada
Canada should drop its Digital Services Tax, which will harm Canadian businesses, startups, and consumers and surely lead to a retaliatory response by the U.S. government.
June 10, 2024|Reports & Briefings
A Techno-Economic Agenda for the Next Administration
The next administration needs to place innovation, productivity, and competitiveness at the core of its economic policy. To that end, this report offers a comprehensive techno-economic agenda with 82 actionable policy recommendations.
April 19, 2024|Blogs
Canada’s 2024 Federal Budget: The Good, the Bad, and the Maybe for Innovation, Productivity, and Competitiveness
The word “innovation” appears a total of 97 times and “productivity” 63 times in Canada’s 2024 federal budget, and many measures targeted towards innovation and productivity reflect that focus. However, some of the funds being disbursed are tangential at best to actually addressing Canada’s declining productivity and supporting Canada’s innovation ecosystem.
April 19, 2024|Knowledge Base Articles
To Do: Create Tax Credits for SME and Supplier Digitalization
Congress should create tax credits for SMEs and original equipment manufacturers (OEMs) to encourage investment in SME and supplier digitalization.
April 3, 2024|Reports & Briefings
Why Congress Should Enact a Mileage-Based User Fee for Heavy Trucking
With the gradual shift from internal combustion to electric vehicles, it is only a matter of time before the nation will have to replace gas taxes with a vehicle miles traveled system to pay for road maintenance. The most sensible way to start would be with heavy trucks.
