Reasons for Congress to Keep the LIFO Inventory Method
The last-in, first-out (LIFO) inventory method has been an acceptable accounting method in the U.S. tax code for more than 75 years.
October ’17 CPI Highlights
Shown below are historical inflation rates through October 2017 for selected CPI categories.
October 17 PPI Highlights
On a seasonally unadjusted basis, the PPI for all commodities increased by 0.2%. Prices for final demand goods moved up 0.3 percent in October, the third straight increase.
Senate Finance Committee Drafting Tax Reform Bill
Based on recent reports, sources indicate that at least two Senate Finance Committee members have stated that they favor LIFO repeal.
Tax Cuts and Jobs Act: House Tax Reform Bill Details Released
The House Ways & Means Committee released the details of their tax reform bill, called the Tax Cuts and Jobs Act. See a summary & the full bill here!
LIFO InfoGraphic
Click to view The LIFO Coalition, last-in, first-out inventory accounting method.
Why Trading LIFO Repeal for Reduced Corporate Rates is Unsound Tax Policy
Comparatively speaking, LIFO was enacted during a time of relatively low corporate tax rates. Learn why LIFO repeal is unsound tax policy at this Blog!
The Economic & Budgetary Impact of LIFO Repeal
According to the Tax Foundation LIFO repeal would reduce GDP by $11.6 billion per year & end up reducing federal revenue by $518 million annually. Read more
Facts & Figures Favoring the Acceptability, Preferability & Preservation of LIFO
Summary of the defining principles of the LIFO method & authoritative references that played pivotal roles in its inception.
Senators Cassidy, Isakson & Thune Seeking LIFO Repeal
Key Senate Finance Committee Members Speak Out In Favor of LIFO Repeal
July 2017 CPI Highlights
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in July on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today.
July 2017 PPI Highlights
The Producer Price Index for final demand declined 0.1 percent in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today.