Analysis of Proposed Tax and Savings Incentives for Higher Education PDF Download

Author: United States. Congress. Joint Committee on Taxation
Publisher: DIANE Publishing Inc.
ISBN:
Category : Education
Languages : en
Pages : 62

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Author: United States. Congress. Joint Committee on Taxation
Publisher:
ISBN:
Category : Education
Languages : en
Pages : 48

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Author: United States. Congress. Joint Committee on Internal Revenue Taxation
Publisher:
ISBN:
Category : Revenue
Languages : en
Pages : 20

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Author: United States. Congressional Budget Office
Publisher:
ISBN:
Category : Budget
Languages : en
Pages : 88

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Author:
Publisher:
ISBN:
Category : Budget
Languages : en
Pages : 166

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Author: Stuart Adam
Publisher: Oxford University Press
ISBN: 0199553742
Category : Business & Economics
Languages : en
Pages : 552

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Based on the findings of a commission chaired by James Mirrlees, this volume presents a coherent picture of tax reform whose aim is to identify the characteristics of a good tax system for any open developed economy, assess the extent to which the UK tax system conforms to these ideals, and recommend how it might be reformed in that direction.

Author: United States. Congress. Senate. Committee on Finance
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 152

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Author: Daphne A. Kenyon
Publisher:
ISBN: 9781558442337
Category : Electronic books
Languages : en
Pages : 0

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The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.

Author: Thomas J. Kane
Publisher: Brookings Institution Press
ISBN: 9780815720010
Category : Business & Economics
Languages : en
Pages : 188

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Over the past fifteen years, a college education has become increasingly valuable in the labor market. As a result, the stakes have been raised in the debate over college admissions and student financial aid. With the gap in college enrollment widening by family income, the time has come to examine the strengths and weaknesses of the American system for financing higher education and to rethink its structure from the ground up. This book begins with an overview of the many indirect ways in which Americans pay for college--as taxpayers, students, and parents--and describes the sometimes perverse ways in which state and federal financial aid policies interact. Thomas J. Kane evaluates alternative explanations for the rise in public and private college costs--weighing the role of federal financial aid policy, higher input costs, and competitive pressures on individual colleges. He analyzes how far we have come in ensuring access to all. Evidence suggests that large differences in college enrollment remain between high and low income students, even those with similar test scores and attending the same high schools. Kane promotes a package of reforms intended to squeeze more social bang from the many public bucks devoted to higher education. For example, he advocates "front-loading" the Pell grant program, limiting eligibility to those in their first two years of college, and providing a larger share of federal subsidies by assessing student resources after college rather than evaluating a single year of parents income and assets before college. Copublished with the Russell Sage Foundation

Author: United States
Publisher:
ISBN:
Category : Education, Higher
Languages : en
Pages : 432

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