ABC Member Tax Survey

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What is your top priority for reforming the tax code? *

Lower marginal tax rate

Lower effective tax burden

Preservation of tax preferences for mortgage interest, capital equipment purchases, charitable contributions, etc.

Would you be willing to eliminate or modify the following tax provisions in exchange for lower rates? *

In order to lower rates, we have to "broaden the base." Below are among the most costly tax expenditures in the code.

Willing to eliminate

Willing to limit/curtail

Absolutely not- must be fully preserved

Deductibility of Mortgage Interest (Currently Applies to First 2 Homes)

Deduction of Net Interest Expense on Corporate Debt

State & Local Income/Property/Sales Tax Deduction

Charitable Contribution Deduction (Currently capped at 50% of AGI)

Direct Expensing of Capital Equipment via Section 179 (Currently capped at $500,000)

Accelerated/Bonus Depreciation (Current level of 50%)

Willing to eliminate

Willing to limit/curtail

Absolutely not- must be fully preserved

Deductibility of Mortgage Interest (Currently Applies to First 2 Homes)

Deduction of Net Interest Expense on Corporate Debt

State & Local Income/Property/Sales Tax Deduction

Charitable Contribution Deduction (Currently capped at 50% of AGI)

Direct Expensing of Capital Equipment via Section 179 (Currently capped at $500,000)

Accelerated/Bonus Depreciation (Current level of 50%)

How important is permanence to you? *

In order to pass a bill w/ 50 votes, it must be revenue neutral in the long run (after 10 years.) Congress will have to choose which elements of this plan will be permanent and which will expire a la the 01/03 Bush Tax Cuts.

Congress should reduce rates as much as possible even if it means they will revert back in the future.

Congress should accept less rate reduction in order to lock in cuts on a permanent basis.

How is your company organized? *

Most construction businesses pay taxes at individual rates- does yours?

C-Corporation

S-Corporation

Other pass-through entity (LLC, Partnership, Sole Proprietorship)

Any other tax-related matters that ABC should strongly support or oppose?

Feel free to extrapolate on previous answers

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