Two Major Coalitions Band Together to Support Comprehensive Tax Reform
Coalition for Fair Effective Tax Rates and the RATE Coalition Back Corporate, Individual Rate Cuts
WASHINGTON, D.C., September 19, 2013 — Two tax coalitions supporting comprehensive tax reform held a joint press conference today to urge support for the efforts of Senator Max Baucus (D-MT) and Rep. Dave Camp (R-MI) to pass comprehensive tax reform.
Representatives for both the RATE (Reforming America’s Taxes Equitably) Coalition and the Coalition for Fair Effective Tax Rates said they believe the tax code is broken and that what’s needed is comprehensive tax reform that simplifies the system by lowering individual and corporate rates and eliminating distorting tax preferences. Together, the groups represent businesses of all kinds — large and small, corporations and mom-and-pop shops.
The Coalition for Fair Effective Tax Rates was represented at the press conference by Co-Chairs Dan Danner, president of the National Federation of Independent Business, and Bill Hughes, senior vice president of the Retail Industry Leaders Association. The RATE Coalition was represented by Co-Chairs Elaine Kamarck, former White House adviser to President Bill Clinton and Vice President Al Gore, and James P. Pinkerton, former White House domestic policy adviser to Presidents Ronald Reagan and George H.W. Bush.
“We applaud and strongly support the efforts of the chairmen of the tax-writing committees in Congress to pass bipartisan comprehensive tax reform legislation,” Danner said. “We stand with the chairmen as they work to pass comprehensive tax reform and grow our economy.”
“Reform that promotes fairness over special tax breaks is good for the economy and the American people,” Kamarck said. “A simpler, fairer code, with lower rates in line with our international competitors will boost economic growth and, importantly, job creation here in the U.S.”
“A more competitive, modern tax system will attract much-needed jobs back to the United States and better enable American businesses to compete in the global marketplace,” Pinkerton said. “The tax code is riddled with exemptions that reward some businesses and penalize others. It should help businesses grow without benefiting certain business activities over others.”
“Revenue neutral, comprehensive tax reform will allow businesses to focus on the bottom line and not on decoding an out-of-date and increasingly complex tax code,” Hughes said. “It’s unfair for some industries to pay a higher effective tax rate than others.”
Read the joint statement here.
About the RATE Coalition:
RATE is a coalition of 32 companies and organizations advocating for sensible corporate tax reform. Making the tax code fairer and simpler will help spur job growth and stimulate the U.S. economy, and make us more competitive globally. RATE members currently include: AT&T, Altria Client Services Inc., Association of American Railroads, Babcock & Wilcox, Boeing, Brown Forman, Capital One, Cox Enterprises, CVS Caremark, FedEx, Ford, GAP Inc., General Dynamics, Home Depot, Intel, Kimberly-Clark, Liberty Media, Lockheed Martin, Macy’s, National Retail Federation, Nike, Northrup Grumman, Raytheon, Reynolds American, Southern Company Time Warner Cable, T-Mobile, UPS, Verizon, Viacom, Walt Disney and Walmart. RATE members and affiliated companies represent over 30 million employees in all 50 states and support innumerable numbers of suppliers and small businesses. More information about the coalition is available at www.RATEcoalition.com.
About the Coalition for Fair Effective Tax Rates:
The Coalition for Fair Effective Tax Rates is a diverse group of national, regional and state associations representing more than 1,500,000 businesses, both large and small, whose mission is to educate Congress and key stakeholders that tax reform should be viewed through the lens of effective tax rates, the amount of taxes businesses actually pay. The Coalition intends to use the metric of effective tax rates to bolster the case for comprehensive tax reform that broadens the tax base while lowering tax rates for corporations and pass through businesses that pay taxes using individual tax rates. More information about the coalition is available at http://www.faireffectivetaxrates.com/.