RATE WATCH: 2.2.17

By Michael DiRoma

The corporate tax rate for American companies still stands at 39% if you include taxes at the state level — we still have the dubious distinction of leading the world when it comes to the highest business tax rates.

REAL TAX REFORM starts with the RATE. The RATE Coalition remains as committed as ever to making sure the benefits of a more competitive U.S. corporate tax rate are front of mind. A broader base and a lower rate will keep American companies in America and will finally allow them to thrive alongside their global competitors.

In recent weeks, RATE Coalition Co-Chairs Elaine Kamarck and Jim Pinkerton published an Op-Ed reiterating the importance of the corporate rate to any real tax reform plan. “To us,” they wrote, “there is a simple answer: Real tax reform starts with the rate. If you make that more competitive with the rest of the world, jobs, talent, intellectual property and multinational companies will beat a path back to America’s front door.”

The RATE Coalition is a group of 32 companies and organizations committed to reforming the tax code, making it fairer and simpler and improving the prospects of growth and jobs in the U.S. economy by reducing the corporate income tax rate to make it more competitive with our nation’s major trading partners. RATE Coalition members include: Aetna, Altria, AT&T, Association of American Railroads, Boeing, Brown-Forman, CVS Health, Capital One, Cox Enterprises, Edison Electric Institute, FedEx, Ford, General Dynamics, Home Depot, Intel, Kimberly-Clark, Liberty Media, Lockheed Martin, Macy’s, National Retail Federation, Nike, Northrup Grumman, Raytheon, Reynolds American, S&P Global, Southern, Synchrony Financial, T-Mobile, UPS, Verizon, Viacom, and Walmart.

NEW AD CAMPAIGN: Real Tax Reform Starts With The Rate. The RATE Coalition has launched a new out-of-home and digital ad campaign in Washington, DC: Real Tax Reform Starts With The Rate.”  

With tax reform on the legislative horizon for 2017, the RATE Coalition ads focus attention on setting the corporate tax rate to a globally competitive level and keeping American companies in America.  At 35%, our corporate tax rate is the highest in the industrialized world and burdens economic growth, job creation and wages in the United States.  The campaign includes billboard ads at Washington’s National Airport (DCA) and a 60-second spot.

WE WANT TO KNOW:  Can the 115th Congress and President Trump successfully tackle Tax Reform in 2017?  Log on to our Facebook page and let us know what you think!

AND, REMEMBER THE RATE PLAN:  The U.S. corporate tax rate is already the highest in the world, which is why we believe our plan to fix the tax code, to set the corporate tax rate at a globally competitive 25% or less, to close tax loopholes, to keep American companies in America, and to enable the U.S. economy to grow resulting in a higher standard of living for American workers is the best path forward.

CONTACT US:  For questions or for additional resources, please contact Michael DiRoma of The RATE Coalition and QGA Public Affairs at mdiroma@qga.com.