Overview
OECD Issues Working Paper on R&D Tax Policy: Today, the Organization for Economic Cooperation and Development (OECD) Center for Tax Policy and Administration released a working paper titled “Fiscal incentives for R&D and innovation in a diverse world.” The working paper , authored by Thomas Neubig, Fernando Galindo-Rueda, and Silvia Appelt, recommends that “[f]iscal incentives, including tax policies, . . . be directed at specific barriers, impediments or synergies to facilitate the desired level of investment in [research and development (R&D)] . . . and innovations.” The working paper concludes that “[m]ore research is needed to determine the extent to which R&D fiscal incentives in one country increase overall R&D, the quality of that R&D, and its positive spillovers to other sectors of the economy and other countries.”
Ways and Means Subcommittee Holds Hearing on Tax-Exempt College and University Endowments: Today, the House Ways and Means Subcommittee on Oversight held a hearing titled “Back to School: A Review of Tax-Exempt College and University Endowments.” In his opening statement, Oversight Subcommittee Chairman Peter Roskam (R-IL) noted that “[g]iven families’ concerns and the big tax benefits colleges and universities get from taxpayers, the Ways and Means Committee believes it is important for us to keep learning about how these schools are working to fulfill their charitable and educational purposes.”
The witnesses were:
- Neal McCluskey
Director of the Center for Educational Freedom, Cato Institute
Testimony
- Jeff Amburgey
Vice President for Finance, Berea College
Testimony
- Sheila Bair
President, Washington College (formerly chair of the Federal Deposit Insurance Corporation)
Testimony
- Mark Schneider
Vice President and Institute Fellow, American Institutes for Research (formerly Commissioner of the National Center for Education Statistics)
Testimony
- Dr. Sandy Baum
Minority witness; Senior Fellow, Income and Benefits Policy Center, Urban Institute
Testimony