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
July 7, 2025|Blogs
The Tortured Logic of Digital Services Taxes
Policymakers must justify why they should be allowed to tax the major digital companies differently from the leading firms in other industries. This challenge explains why so much of the DST debate has centered around obscure and abstract notions of a company’s “physical presence” and whether the company’s users “create value.”
June 30, 2025|Reports & Briefings
Congress Should Fully Fund NSF’s TIP Directorate to Make America More Competitive Versus China
Congress has authorized $20 billion over five years to fund the National Science Foundation’s Technology Innovation Partnership, but lawmakers have appropriated just $410 million. To win the techno-economic war with China, America needs the TIP directorate to be fully funded.
June 17, 2025|Events
Paving the Way: A Fair Funding Future for US Roads
Watch now for a virtual panel discussion with top experts as they explored the technological feasibility and legislative pathway for how a commercial trucking RUC can serve as the foundation for a sustainable, long-term solution to America’s transportation funding crisis.
June 10, 2025|Blogs
U.S. Semiconductor Manufacturing Tax Credits Need To Be Extended and Broadened
The CHIPS Act tax credit powered America's chip resurgence and letting it expire would stall the momentum.
June 3, 2025|Blogs
Family First or Country First? Why National Conservatives’ Family Tax Cuts Miss the Mark
The best way to put a chicken in every family pot is by supporting policies that raise median per-capita income.
May 28, 2025|Blogs
R&D Investment Is Slipping: Bring Back Full R&D Expensing
The tax provision allowing firms to fully expense their R&D costs in the year of investment expired, decreasing the incentive to invest in this key driver of economic growth and competitiveness. Congress should pass the American Innovation and R&D Competitiveness Act of 2025 to restore the immediate deductibility of R&D expenses.
May 2, 2025|Blogs
A Tax-Based Industrial Policy to Compete With China
The goal of industrial policy is to align business activity with national interest. So, why not use the tax code to reward companies that drive exports, domestic investment, R&D, and workforce training?
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.
