Tax Reform

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Rep. Ryan Eyes Corporate Tax Reform to Fix Highway Trust Fund

February 23, 2015

Rep. Ryan Eyes Corporate Tax Reform to Fix Highway Trust Fund

House Ways and Means Committee Chairman Rep. Paul Ryan (R.-Wisc.) said repatriation of corporate earnings held overseas would help to fix the Highway Trust Fund provided it was part of overall corporate tax reform, Politico reported.

House Passes Small Business Tax Break

February 15, 2015

House Passes Small Business Tax Break

The U.S. House of Representatives on Feb. 13 voted 272 to 142 in favor of H.R. 636, America’s Small Business Tax Relief Act of 2015, which would permanently extend Section 179 expensing of up to $500,000.

Bill Proposing 15-Cent Fuel Tax Increase Reintroduced

February 5, 2015

Bill Proposing 15-Cent Fuel Tax Increase Reintroduced

Rep. Earl Blumenauer (D-Ore.) reintroduced legislation Feb. 4 to increase the federal gas tax 15-cents per gallon over three years, nearly doubling the tax by 2018. The bill also would increase the diesel tax at the same rate for three years and tie both taxes to inflation.

House Passes Pair of Tax Break Bills

June 13, 2014

House Passes Pair of Tax Break Bills

The U.S. House of Representatives on June 12 passed a pair of bills that would make two tax breaks for small businesses permanent, including the expiring section 179 expensing provision.

NATSO Joins Broad Industry Group in Supporting Small Business Tax Relief

June 9, 2014

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.

Baucus Releases Energy Tax Reform Discussion Draft

December 20, 2013

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."

Legislation Proposes 15-Cent Fuel Tax Increase

December 6, 2013

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.

Sen. Boxer: Highway Bill Follows Tax Reform

November 22, 2013

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.

Rep. Shuster Believes Tax Bill Key to Infrastructure Funding

September 13, 2013

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.

Senate Finance to Revamp U.S. Tax Code

July 24, 2013

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.

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

March 18, 2013

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.

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

August 6, 2012

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.

Small-Business Tax Break Fails to Move Forward

July 16, 2012

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.

Tax Extenders Package Update

June 18, 2012

Tax Extenders Package Update

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

House Passes Small Business Tax Credit

April 23, 2012

House Passes Small Business Tax Credit

U.S. House of Representatives voted 235-173 in favor of the Small Business Tax Cut Act last week.

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