The Bridge to Prosperity: Reverse Reckless Cuts, Restore Our Infrastructure, and Revive Jobs

As Congress nears another set of budget deadlines, it’s time to shift focus on priorities – from reducing the deficit to strengthening our economy. A convergence of several corrosive fiscal choices could have cumulative, negative long-term impacts on job growth if we continue on the path we’re on.

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No Shared Sacrifice: CEO Contractor Retirement Packages Soar While Federal Employees Asked to Pay More

The budget deal announced last evening by Senator Patty Murray (D-WA) and Representative Paul Ryan (R-WI) would require federal workers to pay more of their salary towards their federal pension benefits and reduce military pensions. But the deal targets the wrong crowd.

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Murray-Ryan Budget Deal Announced

Yesterday evening, Senator Patty Murray (D-WA) and Representative Paul Ryan (R-WI) announced a budget proposal to replace a portion of sequestration cuts. The plan would allow the continuation of cuts to Medicare, increase user fees, and make it more expensive for government employees to save for retirement.

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Budget Proposal Would Reduce Contractor CEO Pay Subsidies

The budget proposal unveiled last night by Senate Budget Committee Chair Patty Murray (D-WA) and House Budget Committee Chair Paul Ryan (R-WI) would reduce the amount the federal government pays to contractors for their highest-paid employees by nearly half from $487,000, down from about $952,000.

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Will the National Action Plan Tackle Spending Transparency Gaps?

The White House unveiled version 2.0 of its Open Government National Action Plan (NAP 2.0) last week. An important part of the plan is shining more sunlight on how the federal government spends our money, such as improving the usability of USASpending.gov (the main public portal for spending information), providing more federal contract information, and making spending data more available in formats easy to parse with computers. We commend the White House for these commitments.

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The Corporate Tax Rate Debate: Lower Taxes on Corporate Profits Not Linked to Job Creation

The American corporate tax system is badly broken. Some corporations pay more than a third of their profits in federal income taxes, while other equally profitable firms pay nothing at all. On average, corporations pay just 12.6 percent of their profits in federal income taxes, according to a recent study by the U.S. Government Accountability Office.

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Taxes on Corporate Profits Not Tied to Job Creation, New Study Finds

WASHINGTON, Dec. 3, 2013—Washington D.C. is abuzz with the possibility of corporate tax reform. Years of intense lobbying from corporate executives have convinced many in Congress and the White House that a 35 percent tax on corporate profits represents a competitive threat to American businesses and to the economy. Rep. Dave Camp (R-MI) and Sen. Max Baucus (D-MT), respective chairs of the two powerful congressional tax writing committees, have joined President Obama in calling for closing corporate tax loopholes and using the proceeds to reduce the tax rate on corporate profits. But a study just released by the Center for Effective Government shows that the taxes corporations pay on profits are historically quite low. Moreover, there is no evidence that lowering taxes on corporate profits will lead to more job creation in the U.S.

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Baucus Proposal: Corporate Rate Reductions, No Sequester Relief

Sen. Max Baucus (D-MT) released a series of discussion drafts proposing elements of tax reform this week, including recommendations for international tax reform.

Baucus clearly states that tax reform overall should be revenue positive for deficit reduction, but the proposal for international taxation is revenue neutral in the long-run—leaving open the possibility of revenue positive reform of the individual tax system.

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Platinum-Plated Pensions

In the current budget debate, the loudest calls for Social Security cuts are coming from two lobby groups led by CEOs who will never have to worry about their own retirement security.

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Delaware Flaunts “Shell Company” Policy with New Website

The state of Delaware has launched a new website (corplaw.delaware.gov) to promote Delaware’s business-friendly incorporation laws abroad.

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