Taxes and Budget
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As nations engage in a race for global advantage in innovation, ITIF champions a new policy paradigm that ensures businesses and national economies can compete successfully by spurring public and private investment in foundational areas such as research, skills, and 21st century infrastructure. In the area of tax and budget policy, ITIF focuses on how tax policy and budgets can boost investment, competitiveness, and economic growth.
Featured
Twelve Tax Reforms to Spur Innovation and Competitiveness
U.S. tax policy needs to prioritize innovation and competitiveness—especially as China rapidly gains ground as a leading innovator in advanced industries.
More Publications and Events
June 17, 2025|Events
Paving the Way: A Fair Funding Future for US Roads
Please join ITIF for a virtual panel discussion with top experts who will explore the technological feasibility and legislative pathway for how a commercial trucking RUC can serve as the foundation for a sustainable, long-term solution to America’s transportation funding crisis.
June 3, 2025|Blogs
Family First or Country First? Why National Conservatives’ Family Tax Cuts Miss the Mark
The best way to put a chicken in every family pot is by supporting policies that raise median per-capita income.
May 28, 2025|Blogs
R&D Investment Is Slipping: Bring Back Full R&D Expensing
The tax provision allowing firms to fully expense their R&D costs in the year of investment expired, decreasing the incentive to invest in this key driver of economic growth and competitiveness. Congress should pass the American Innovation and R&D Competitiveness Act of 2025 to restore the immediate deductibility of R&D expenses.
May 2, 2025|Blogs
A Tax-Based Industrial Policy to Compete With China
The goal of industrial policy is to align business activity with national interest. So, why not use the tax code to reward companies that drive exports, domestic investment, R&D, and workforce training?
December 20, 2024|Blogs
R&D Under Attack: How the Loss of Immediate Expensing Reduces Innovation Inputs
It is time for Congress to restore the immediate expensing of R&D expenditures by passing the Tax Relief for American Families and Workers Act of 2024.
September 25, 2024|Knowledge Base Articles
To Do: Create a Super CHIPS Credit
Congress should create a Super CHIPS Tax Credit for advanced-industry R&D and production firms’ purchases of machinery, equipment, and buildings.
September 25, 2024|Knowledge Base Articles
To Do: Expand the R&D Credit for Pre-Profit Start-Ups
Congress should expand the refundable R&D credit to allow pre-profit start-ups to cover payroll taxes.
September 20, 2024|Knowledge Base Articles
To Do: Impose Mirror Taxes on Countries With Digital Service Taxes
Congress should amend the Internal Revenue Code to allow authorities to impose mirror taxes on countries imposing Digital Service Taxes on U.S. firms.
August 19, 2024|Knowledge Base Articles
To Do: Extend the Semiconductor-Sector Investment Credit
Congress should extend the semiconductor-sector investment tax credit introduced in the CHIPS Act through the end of the decade.
July 18, 2024|Blogs
The Digital Services Tax Will Not Be Good for Canada
Canada should drop its Digital Services Tax, which will harm Canadian businesses, startups, and consumers and surely lead to a retaliatory response by the U.S. government.
