RATE Coalition Statement on Chairman Camp’s Tax Reform Discussion Draft

WASHINGTON, D.C. — RATE Coalition 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, released the following statement in response to Chairman Camp’s tax reform discussion draft:

“Chairman Camp committed to introducing a proposal that simplifies the tax code, broadens the base and reduces the corporate tax rate to 25 percent. We congratulate and thank him for delivering on that commitment. We look forward to working closely with Chairman Camp throughout the process on this important issue.

“At a time when unemployment remains too high and growth too slow, the U.S. needs a simpler, fairer and more competitive code to spur economic growth and create jobs. The benefits from tax reform done correctly are simply too great for Congress and the Administration to ignore. The data from the Joint Committee on Taxation showing a $3.4 trillion increase in U.S. GDP and nearly two million new American jobs proves that tax reform is uniquely capable of stimulating growth and employment.

“Chairman Camp’s proposal represents one of the most meaningful advancements for tax reform in nearly 30 years. Lawmakers from both parties have expressed support to simplify the code and reduce America’s world-leading corporate tax rate to an internationally competitive level. It’s time to harness this momentum and enact meaningful tax reform.”

About 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.