ALBANY - Tax revenues are on the rise in the USA, with almost every state reporting an overall increase in tax collections when compared to last year. On December 8th the Nelson A. Rockefeller Institute of Government released its quarterly report on tax revenues across the states of the USA, which showed that in the 3rd quarter of 2011 overall tax revenue levels rose by 7.3 percent, when compared to the same period in 2010. The change was comprised of a 9.2 ... Read More

WASHINGTON D.C. - The US Treasury Secretary is calling for national politicians to cooperate over currently proposed tax reforms, in order to save country from further economic slowdowns or tax hikes. In a presentation given at the Intel semiconductor plant in Arizona on November 8th, the US Treasury Secretary Timothy Geithner called for greater cooperation between members of the national Congress to pass tax reforms and ensure the country's economic stability and growth. The Treasurer said that unless Republicans and Democrats can soon see ... Read More

WASHINGTON - It is too late for the US to consider an overhaul of its tax system, and all efforts should now be concentrated on finding short term tax measures to boost the economy quickly. While speaking to the Committee on Small Business and Entrepreneurship of the US Senate on October 18th the Treasury Secretary Timothy Geithner said that the government does not have the time necessary to effectively implement large scale reforms of the US tax system, and any changes to ... Read More

WASHINGTON - A significant portion of American millionaires face lower tax rates than their middle income counterparts, with some paying as little as 19 percent tax. The public policy research arm of the US Congress Congressional Research Service (CRS) released a new report this week, which aimed to examine the overall tax obligations of the richest taxpayers in the USA. According to the report, nearly 25 percent of the richest taxpayers in the USA face a lower overall tax rate than some ... Read More

As the USA looks for means to raise tax revenues, new research indicates that profit repatriation tax breaks are a poor solution which could do more harm than good for the economy. According to a new report released on October 10th by the Subcommittee on Investigations of the US Senate, profit repatriation tax breaks do not benefit the national economy, and will not raise tax revenues or employment levels. The report examined 20 large US registered companies that utilized the US government’s tax ... Read More

WASHINGTON - A new bill has been introduced in the US to encourage national companies to repatriate profits earned overseas back to the USA, and employ more US citizens. In a press release published on October 6th US Republican Senator for Arizona John McCain and a US Democratic Senator for North Carolina Kay Hagan revealed that they have introduced a new bill which would significantly reduce the tax obligations for US companies repatriating their profits back to the USA ... Read More

WASHINGTON - The White House is attempting to clear up a shroud of misinformation and confusion regarding potential wealth taxes, having released a communiqué that aims to clarify details regarding the impact of the proposed changes. In a communiqué published on the White House blog on September 25th the White House communications director Dan Pfeiffer set out to rebuke false claims made by those who oppose a potential tax on the country’s highest earners. According to the statement, the administration of President ... Read More