Sentences with phrase «increase federal tax revenues»

'' The best way to increase federal tax revenues is to increase the number of working Americans who actually pay taxes.

The government expects the anti-smoke move will increase federal tax revenues by $ 685 million in 2014 - 15 — a major piece of the puzzle in Tory efforts to balance the books over the next two years.

Not exact matches

And all of them argue that the proposed tax cuts, estimated to reduce federal revenue by more than $ 1.4 trillion, won't increase federal deficits, an assertion that's been contradicted by Congress's official tax scorekeeper.

If firms act to reduce that tax base in response to an increase in the federal rate, then provincial revenues will fall, even if the provinces haven't changed their rates.

Eliminating the state and local tax deduction would raise about one - quarter of the $ 4 trillion in revenues that some Republicans say they need to prevent tax cuts from creating a massive increase in the federal budget deficit.

Increased export prices also tend to boost government revenues through company taxes and a range of federal and state royalties.

The proposal is about the federal government providing funding to groups, who need assistance and paying for this additional funding by a small «revenue neutral» tax increase.

If you are, say, Dalton McGuinty, Jean Charest or Christy Clark, you should adamently oppose any increases in federal corporate taxes since you'll bear, depending on your preferred model, some or all (and then some) of the cost of increased federal corporate tax revenue.

While federal and provincial governments will continue to play an important role investing in infrastructure, they simply do not have the resources to meet the demand — pegged at somewhere in the neighbourhood of $ 500 - billion — without a large increase in tax revenues or drastic cuts to social programs.

However, the Liberal platform also envisaged temporary deficits to finance higher spending on social programs such as child benefits, a higher Guaranteed Income Supplement for single seniors, public health care, child care and First Nations programs, and did not increase overall federal tax revenues.

A 0.5 % small business tax reduction is welcome, but overshadowed by tax increases at the personal level, corporate level, an increase in B.C.'s no - longer - revenue - neutral carbon tax, and the corresponding pending changes by the federal government as to how small business owners can manage their affairs.

Proponents of raising taxes on New York's wealthiest say they have a new impetus to increase the state's revenue — the continued bad news from Washington about deep federal cuts to health care and other areas.

We applaud Governor Paterson's argument that, should New York receive a significant cash infusion from the federal government for Fiscal 2010, the state should use those revenues to cut back on significant proposed tax and fee hikes, rather than restore or increase governmental spending.

Some politicians want to reduce the federal gasoline tax, even though its fixed value per gallon means that as prices increase, revenues fall.

The Federal Inland Revenue Service (FIRS) has also begun to implement a programme of increased awareness among Nigerians regarding the payment of taxes.

If the graduation rate increased to 90 percent for just one cohort of students, the country would see a $ 7.2 billion increase in annual earnings and a $ 1.1 billion increase in federal tax revenue.

How much taxpayers would save in future medical, disability and other costs, and benefit in increased tax revenues, is something federal budgets don't tell us.

When preparing your federal tax return using Form 1040 from the Internal Revenue Service (IRS), you will be given an opportunity to increase your standard deduction by checking the applicable boxes on Line 39a.

Note that since the income tax is one of the most progressive taxes in the federal system, an across - the - board income tax cut that increases every tax filer's after - tax income by the same percentage would tend to make the overall tax system less progressive, because it would collect proportionally less revenue from one of the most progressive sources.

Assuming that Mr. McGuinty agreed to this trade, the province's highest marginal rate on personal income would rise, federal and provincial rates combined, from 46.4 per cent to 49.4 per cent — meaning that this rate would theoretically net $ 247,000 in revenue, a tax increase for the top 1 per cent of at least $ 15,000.

Ottawa estimates that in 20 years, relative to the size of today's economy, increasing the TFSA limit and not indexing the new limit to inflation will amount to 0.03 per cent of total federal tax revenue.

The estimate is «all in,» meaning it includes the impact on the federal and provincial governments, including the impact of foregone tax revenues and increased transfer payments for OAS and GIS.

Given the tax reform effort currently under way in Congress this would seem an appropriate time to consider the usefulness of a carbon tax to increase Federal revenue even though no such proposal (happily) is in the current tax bill.

Federal revenues are increased, other taxes which have adverse incentives can be reduced, pollution is decreased, and everyone is better off except the polluters.

Because of the somewhat precarious Federal finances that may result from Trump's tax, military and infrastructure enhancement proposals, and budget deficits inherited from the Obama Administration, these increased revenues could be very crucial to the success of Trump's Administration as a whole and thus his chances for reelection in 2020.

[75] The American Chemistry Council determined that a 25 % increase in the supply of ethane (a liquid derived from shale gas) could add over 400,000 jobs across the economy, provide over $ 4.4 billion annually in federal, state, and local tax revenue, and spur $ 16.2 billion in capital investment by the chemical industry.

Likewise, 60 percent of Americans support a $ 10 per ton carbon tax if the revenue were used to reduce federal income taxes, even when told this would «slightly increase the cost of many things you buy, including food, clothing, and electricity.»

Boosting federal revenues has also been necessary at times, and many presidents have increased the tax rates on both individuals and corporations to achieve national fiscal goals.

The U.S. federal government didn't begin to approach its modern scale of activity until the New Deal following the Great Depression in the 1930s, which was financed with very high income taxes and estate taxes, high customs duties such as the Smooth - Hawley tariffs imposed not long after the crash of 1929 (which were so high that they reduced customs revenue rather than increasing it), and newly imposed payroll taxes.

The Senate Budget Committee approved the bill on a party - line vote of 12 - 11 Tuesday, but only after Senator Bob Corker of Tennessee said he bargained for adding a controversial provision: a so - called revenue trigger that would impose tax increases if the tax bill's cuts raise the federal deficit.

Suburban REALTORS Alliance Position The Alliance is opposed to increases in the current transfer tax for the following reasons: 1) As the transfer tax is levied only on buyers and sellers of property, the burden per taxpayer is greater than the burden from a more broad - based tax designed to generate the same amount of revenue; 2) Since public transportation is a benefit that is open to all members of society, the charge should not be placed solely on buyers and sellers of property; 3) The transfer tax adds additional burdens on first - time home buyers saving for a down - payment and covering the closing costs and runs contrary to existing federal, state, and local programs including the mortgage interest deduction, low interest property maintenance loans, and grants to first time homebuyers; 4) A real estate transfer tax is a state and local tax assessed on real property when ownership of the property is exchanged between parties.

Increased scrutiny around federal tax policies and pressure to find new sources of revenue could cause Congress to repeal or limit the use of Section 1031 (also referred to as the Like - Kind Exchange).

According to a roundup by the Committee for a Responsible Federal Budget, analyses from the Tax Policy Center, Penn - Wharton Budget Model, and Tax Foundation all determine that the TCJA would add more than $ 1 trillion to the deficit — even when increased revenue from economic growth is added.

This transactional activity raises state, local and federal tax revenue through transfer, sales and use taxes and increased property taxes.