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  • Testimony posted May 15, 2015 by David R. Burton Legislative Proposals to Enhance Capital Formation and Reduce Regulatory Burdens: Venture Exchanges

    Testimony before the Capital Markets and Government Sponsored Enterprises Subcommittee of the Committee on Financial Services United States House of Representatives May 13, 2015 David R. Burton Senior Fellow in Economic Policy The Heritage Foundation My name is David R. Burton. I am Senior Fellow in Economic Policy at The Heritage Foundation. I would…

  • Backgrounder posted April 7, 2015 by Curtis S. Dubay, David R. Burton A Tax Reform Primer for the 2016 Presidential Candidates

    The 2016 presidential campaign is already well underway. As it progresses, candidates seeking the presidency will increasingly face questions about how they would address federal tax policy. Foremost among them will be how they will pursue tax reform should they become President. They will be asked whether they favor it, why, and to explain their own reform plans. There…

  • Testimony posted March 13, 2015 by David R. Burton Building an Opportunity Economy: The State of Small Business and Entrepreneurship

    Testimony before The Committee on Small Business United States House of Representatives March 4, 2015 David R. Burton Senior Fellow in Economic Policy The Heritage Foundation My name is David R. Burton. I am Senior Fellow in Economic Policy at The Heritage Foundation. I would like to express my thanks to Chairman Chabot, Ranking Member Velázquez, and…

  • Backgrounder posted March 9, 2015 by Curtis S. Dubay, David R. Burton The Lee–Rubio Tax Plan’s Business Reforms Are Tremendously Pro-Growth

    The primary purpose of tax reform is to enhance economic growth by expanding the economy’s potential. Based on initial analysis, the tax reform plan recently released by Senators Mike Lee (R–UT) and Marco Rubio (R–FL) amply succeeds at this core purpose, mostly by substantially improving the tax treatment of businesses. On the individual side, the plan takes steps in the…

  • Backgrounder posted December 15, 2014 by David R. Burton Four Conservative Tax Plans with Equivalent Economic Results

    Over the past three decades, conservatives have proposed four different types of consumption taxes: A national sales tax, A business transfer tax, The Hall–Rabushka–Armey–Forbes flat tax, and The “new flat tax,” also known as an expenditure tax, consumed income tax, inflow-outflow tax, or cash flow tax. Few understand that, despite their…

  • Backgrounder posted June 20, 2014 by David R. Burton Reducing the Burden on Small Public Companies Would Promote Innovation, Job Creation, and Economic Growth

    The Securities Act of 1933 makes it generally illegal to sell securities unless they are registered with the Securities and Exchange Commission (SEC).[1] The act exempts various securities and transactions from this requirement.[2] In addition, the Securities Exchange Act of 1934 requires companies to register if they are listed on a national securities exchange[3] or if…

  • Testimony posted April 11, 2014 by David R. Burton Proposals to Enhance Capital Formation for Small and Emerging Growth Companies

    Testimony before the Capital Markets and Government Sponsored Enterprises Subcommittee of the Committee on Financial Services United States House of Representatives My name is David R. Burton. I am Senior Fellow in Economic Policy at The Heritage Foundation. I would like to express my thanks to Chairman Garrett, Ranking Member Maloney, and Members of the Subcommittee for…

  • Backgrounder posted March 14, 2014 by Curtis S. Dubay, David R. Burton Chairman Camp’s Tax Reform Plan Keeps Debate Alive Despite Flaws

    In February, the chairman of the House Ways and Means Committee, Representative Dave Camp (R–MI), released his long-awaited tax reform plan.[1] Chairman Camp and his staff are to be applauded for the tireless work they put into crafting the plan and for the courage they displayed in releasing it in a difficult environment for tax reform. Discussion and debate about the…

  • Backgrounder posted February 19, 2014 by David R. Burton Don’t Overregulate Business Brokers

    In contrast to its practice for most of its history, current Securities and Exchange Commission (SEC) policies seek to subject business brokers to the same complex and expensive regulatory regime as large Wall Street broker-dealers. This policy has a significant negative impact, particularly on small businesses. Business brokers make the market for closely held small…

  • Backgrounder posted February 5, 2014 by David R. Burton Don’t Crush the Ability of Entrepreneurs and Small Businesses to Raise Capital

    The Securities and Exchange Commission (SEC) is considering substantial increases in the Regulation D thresholds for “accredited investor” income and net worth, which would reduce the pool of potential investors in small businesses and start-up companies by 60 percent to 70 percent. This will impede these firms’ access to capital and, therefore, slow economic growth.…

  • Commentary posted January 15, 2014 by David R. Burton Thinking anew about information exchange and reporting

    The list of national and international agencies and national laws and international agreements governing financial information exchange and reporting has grown preposterously long. It is time to fundamentally reevaluate the information exchange and reporting system that has grown up over the past two decades and begin the process of considering how to better meet the…

  • Issue Brief posted October 31, 2013 by David R. Burton Obamacare’s Health Insurance Tax Targets Consumers and Small Businesses

    Obamacare imposes a new tax on health insurance premiums, starting in 2014, that will increase individual and small group health insurance premiums by an additional 2–3 percent. This will have an adverse impact on consumers and reduce employment but have little impact on large employers and their employees, because large firms usually self-insure. The tax is hidden from…

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