THE ACCELERATOR for April 6th, 2017
News for Driving Economic Growth

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AEI:  CUTS IN DEPRECIATION IN TAX REFORM UNDERMINE ECONOMIC GROWTH
 
Alan Viard of the American Enterprise Institute talks accelerated depreciation and why curtailing it in tax reform works against increased growth:  “What companies gain on the rate cut they lose on the depreciation side.”
 
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MARYLAND USES ACCELERATED DEPRECIATION TO ENCOURGE INVESTMENT
 
On March 23rd, the Maryland Senate passed SB 317, or the More Jobs for Marylanders Act of 2017. The bill uses accelerated depreciation and other tax measures to encourage investment in manufacturing equipment and boost manufacturing jobs.  The Maryland House of Representatives is expected to vote on the measure soon.

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AUSTRALIA’S BUSINESSES SPEAK OUT ABOUT ACCELERATED DEPRECIATION
 
Leaders in corporate Australia warn that Prime Minister Malcolm Turnbull’s tax cut proposal won’t be enough to encourage investment by the country’s biggest companies. Accelerated depreciation, they argue, would make a bigger difference in stimulating employment and economic growth.

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IS AHCA’S FAILURE GOOD NEWS FOR TAX REFORM?
 
Although the White House stated in February that President Trump’s goal was to introduce a tax plan by the end of the month, the political toll of AHCA has seemingly slowed any movement on the plan as Congressional leaders and the White House sifted through options for advancing AHCA.  Now, some argue the failure of AHCA and willingness of the President to move on to other priorities may be a blessing in disguise for Republicans by putting tax reform at the head of the legislative agenda for the rest of the year. 

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VAT OR CARBON TAX?  NOT. 
 
Within the span of 24 hours, White House officials have floated, and then rejected, the idea of tapping a VAT or carbon tax for tax reform. 
 
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THE ACCELERATOR is the voice of the CRANE Coalition – Cost Recovery Advances the Nation’s Economy.  CRANE is made up of American companies and associations focused on preserving a robust system of cost recovery in the tax code to ensure that businesses have the capital needed to continue driving economic growth and job creation here at home. CRANE has sponsored research on the economics and budgetary aspects of cutbacks in cost recovery.  As Congress and the administration endeavor to reform the U.S. tax code in the coming months, CRANE will continue to urge the preservation and enhancement of accelerated depreciation. Follow us on Twitter.

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