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National Taxpayers Union
The National Taxpayers Union (NTU) is a fiscally conservative taxpayer advocacy organization and taxpayers union in the United States, founded in 1977 by James Dale Davidson. NTU says that it is the oldest taxpayer advocacy organization in the nation. It is closely affiliated with a non-profit foundation, the National Taxpayers Union Foundation (NTUF). The organization has ranked politicians on their perceived fiscal responsibility, in the eyes of the National Taxpayers Union. Policy positions The National Taxpayers Union has worked to enact constitutional limits on government taxes, spending and debt. The organization also played a role in Federal income tax indexing It also worked for the passage of a Taxpayer Bill of Rights. The NTU favors either a Flat Tax or the FairTax (a national sales tax with rebate) for the United States, as opposed to the current income tax system. The organization argues in favor of the line-item veto for the president. NTU generally opposes cro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Washington, DC
) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, National Cathedral , image_flag = Flag of the District of Columbia.svg , image_seal = Seal of the District of Columbia.svg , nickname = D.C., The District , image_map = , map_caption = Interactive map of Washington, D.C. , coordinates = , subdivision_type = Country , subdivision_name = , established_title = Residence Act , established_date = 1790 , named_for = George Washington, Christopher Columbus , established_title1 = Organized , established_date1 = 1801 , established_title2 = Consolidated , established_date2 = 1871 , established_title3 = Home Rule Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crop Subsidies
An agricultural subsidy (also called an agricultural incentive) is a government incentive paid to agribusinesses, agricultural organizations and farms to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities. Examples of such commodities include: wheat, feed grains (grain used as fodder, such as maize or corn, sorghum, barley and oats), cotton, milk, rice, peanuts, sugar, tobacco, oilseeds such as soybeans and meat products such as beef, pork, and lamb and mutton. A 2021 study by the UN Food and Agriculture Organization found $540 Billion was given to farmers every year between 2013 and 2018 in global subsidies. The study found these subsidies are harmful in numerous ways. In wealthy countries, they damage health by promoting the overconsumption of meat. In under-developed countries they encourage overconsumption of low-nutrition staples. Subsidies also contribute to the climate crisis, by encouraging def ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budget Control Act
The Budget Control Act of 2011 () is a federal statute enacted by the 112th United States Congress and signed into law by US President Barack Obama on August 2, 2011. The Act brought conclusion to the 2011 US debt-ceiling crisis. The law involves the introduction of several complex mechanisms, such as creation of the Congressional Joint Select Committee on Deficit Reduction (sometimes called the "super committee"), options for a balanced budget amendment, and automatic budget sequestration. Provisions Debt ceiling: * The debt ceiling was increased by $400 billion immediately. * The President could request a further increase of $500 billion, which is subject to a congressional motion of disapproval which the President may veto, in which case a two-thirds majority in Congress would be needed to override the veto. This has been called the 'McConnell mechanism' after the Senate Minority Leader Mitch McConnell, who first suggested it as part of another scheme. * The Presi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DeMint Web
James Warren DeMint (born September 2, 1951) is an American political advocate, businessman, author, and retired politician who served as a United States Senator from South Carolina and as president of the Heritage Foundation. DeMint is a member of the Republican Party and a leading figure in the Tea Party movement; he is also the founder of the Senate Conservatives Fund. DeMint served as the United States representative for from 1999 to 2005. He was elected to the U.S. Senate from South Carolina in 2004 and reelected in 2010. DeMint served in the Senate until January 2, 2013, when he stepped down to become president of The Heritage Foundation. On May 2, 2017, DeMint resigned his position at Heritage at the request of its board. He later became a senior advisor to Citizens for Self-Governance and the founding chairman of the Conservative Partnership Institute. Early life and education DeMint was born in Greenville, South Carolina, one of four children. His parents, Betty W. (n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Budget Amendment
A balanced budget amendment is a constitutional rule requiring that a state cannot spend more than its income. It requires a balance between the projected receipts and expenditures of the government. Balanced-budget provisions have been added to the constitutions of Germany, Hong Kong, Italy, Poland, Slovenia, Spain and Switzerland, among others, as well as to the constitutions of most U.S. states. In the United States, the Republican Party has advocated for the introduction of a balanced budget amendment to the United States Constitution. Balanced budget amendments are defended with arguments that they reduce deficit spending and constrain politicians in making irresponsible short-term spending decisions when they are in office. Research shows that balanced budget amendments lead to greater fiscal discipline. However, there is substantial agreement among economists that ''strict annual'' balanced budget amendments have harmful near-term economic effects. In times of recessio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Research & Experimentation Tax Credit
The Credit For Increasing Research Activities (R&D Tax Credit) is a general business tax credit under Internal Revenue Code Section 41 for companies that incur research and development (R&D) costs in the United States. The R&D Tax Credit was originally introduced in the Economic Recovery Tax Act of 1981 sponsored by U.S. Representative Jack Kemp and U.S. Senator William Roth.''Encyclopedia of Taxation and Tax Policy'', By Joseph J. Cordes, Robert D. Ebel, Jane Gravelle, Urban Institute, pages 330-332 Since the credit's original expiration date of December 31, 1985, the credit has expired eight times and has been extended fifteen times. The last extension expired on December 31, 2014.https://www.irs.gov/pub/irs-pdf/f6765.pdf In 2015, Congress made permanent the research and development tax credit in a measure of the government spending bill. Qualified research, history and definitions With widespread concern that U.S. economic performance had fallen well below its potential, Congre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Code
The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC). It is organized topically, into subtitles and sections, covering income tax in the United States, payroll taxes, estate taxes, gift taxes, and excise taxes; as well as procedure and administration. The Code's implementing federal agency is the Internal Revenue Service. Origins of tax codes in the United States Prior to 1874, U.S. statutes (whether in tax law or other subjects) were not codified. That is, the acts of Congress were not separately organized and published in separate volumes based on the subject matter (such as taxation, bankruptcy, etc.). Codifications of statutes, including tax statutes, undertaken in 1873 resulted in the Revised Statutes of the United States, approved June 22, 1874, eff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Research And Competitiveness Act Of 2014 (H
The American Research and Competitiveness Act of 2014 () is a bill that would amend the Internal Revenue Code to modify the calculation method and the rate for the tax credit for qualified research expenses that expired at the end of 2013 and would make that modified credit permanent. The bill was introduced into the United States House of Representatives during the 113th United States Congress. On May 9, 2014, the bill passed the House. It was received by the Senate on May 12, 2014, but as of December 21 it had not been placed on the calendar. In 2015, Congress made permanent the research and development tax credit. Background The Research & Experimentation Tax Credit or the R&D Tax Credit is a general business tax credit for companies that are incurring R&D expenses in the United States. The R&D Tax Credit was originally introduced in the Economic Recovery Tax Act of 1981 sponsored by U.S. Representative Jack Kemp and U.S. Senator William Roth.''Encyclopedia of Taxation a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of The Treasury
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and coins, while the treasury executes its circulation in the domestic fiscal system. The USDT collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes. The depart ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expenditures In The United States Federal Budget
The United States federal budget consists of mandatory expenditures (which includes Medicare and Social Security), discretionary spending for defense, Cabinet departments (e.g., Justice Department) and agencies (e.g., Securities & Exchange Commission), and interest payments on debt. This is currently over half of U.S. government spending, the remainder coming from state and local governments. During FY2018, the federal government spent $4.11 trillion, up $127 billion or 3.2% vs. FY2017 spending of $3.99 trillion. Spending increased for all major categories and was mainly driven by higher spending for Social Security, net interest on the debt, and defense. Spending as % GDP fell from 20.7% GDP to 20.3% GDP, equal to the 50-year average. During FY2017, the federal government spent $3.98 trillion, up $128 billion or 3.3% vs. FY2016 spending of $3.85 trillion. Major categories of FY 2017 spending included: Healthcare such as Medicare and Medicaid ($1,077B or 27% of spending), Social S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digital Accountability And Transparency Act Of 2014 (S
The Digital Accountability and Transparency Act of 2014 (DATA Act) is a law that aims to make information on federal expenditures more easily accessible and transparent. The law requires the U.S. Department of the Treasury to establish common standards for financial data provided by all government agencies and to expand the amount of data that agencies must provide to the government website, USASpending. The goal of the law is to improve the ability of Americans to track and understand how the government is spending their tax dollars. The law was introduced into the United States Senate during the 113th United States Congress. A similar bill, the Digital Accountability and Transparency Act of 2013 (H.R. 2061; 113th Congress), was introduced at the same time in the United States House of Representatives. There was also a previous version of the bill () that passed in the House during the 112th United States Congress, but did not become law. On May 9, 2014, President Barack Obama s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Debt Ceiling
The United States debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury, thus limiting how much money the federal government may pay on the debt they already borrowed. The debt ceiling is an aggregate figure that applies to the gross debt, which includes debt in the hands of the public and in intra-government accounts. About 0.5% of debt is not covered by the ceiling. As of July 2019, it appeared that the government would default on its obligations within a couple months. The budget problem was caused in part by lower tax revenue (due to new tax legislation that took effect in the 2018 tax year under which many companies had their taxes drastically reduced) and in part by the government having already reached its borrowing limit ($22 trillion as of March 2019). Relationship to federal budget The process of setting the debt ceiling is separate and distinct from the United States budget process, and raising ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
