More than half of the States maintain an independent tax tribunal. In 2013, Alabama and eight other state legislatures considered their creation. An independent tax […]
The Accountability Act is a significant step towards improving the educational outcomes of students in failing schools.
Since the beginning of the Great Recession, cities across the United States have struggled to keep their municipal budgets in the black, balancing rising costs […]
In this report, the Alabama Policy Institute examines the fiscal health of the state’s four largest cities—Birmingham, Montgomery, Mobile, and Huntsville—by comparing each of them to […]
Policy Priorities for Alabama is a handbook compiled specifically for each legislative session as a research and education guide on the issues facing our state.
April 18th was Tax Freedom Day for 2013. On average, all income earned prior to April 18th went to pay federal, state and local taxes. […]
In order to excel in an increasingly competitive global marketplace, Alabama must be as attractive as possible to businesses looking to establish or grow operations in the state. While Alabama’s business-friendly image is usually assessed at the state level, Alabama must also consider how its individual cities compare against each other with respect to economic, social, and educational factors attractive to businesses.
A true flat tax would be one tax rate that is applied to all income with no exceptions. A flat tax would not tax savings and investment, promoting job creating and capital formation. Only income earned inside the national borders of the United States would be taxed.
As of 2011, Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 set the exclusion amount at $5 million and a top tax rate of 35 percent for 2011 and 2012. It is long past time for Congress to permanently repeal the estate tax. It serves none of the original purposes Congress intended in 1916, and it presents a significant danger for family-owned businesses.
The Alternative Minimum Tax (AMT) was designed in 1969 to ensure that wealthy taxpayers did not use loopholes to escape paying their share of taxes. The biggest problem with the AMT is that, unlike the regular income tax, it is not indexed for inflation. The AMT must be eliminated from the federal tax code.