“We applaud President Trump’s continued commitment to making the case for historic tax reform. Together with the Senate’s adoption of the motion to proceed with the budget resolution and the flurry of new studies previewing the tremendous wage growth workers would enjoy after a corporate tax rate reduction, President Trump’s remarks this evening add momentum to this once-in-a-generation opportunity to restore our competitive edge.
“As President Trump explained, ‘lower taxes on American businesses means higher wages for American workers.’ Our corporate tax rate – the highest in the industrialized world and a full fifteen percentage points above our global competitors who comprise the OECD average – is saddling businesses of all sizes and the workers they employ with lost opportunities and lower wages. Failing to fix the status quo would continue to drive America’s job-creating companies overseas and simultaneously, continue to deprive America’s workforce of the pay raise they deserve. The simple, yet significant step of reducing our corporate tax rate, meanwhile, has been projected by the Council of Economic Advisers to increase the average household income by between $4,000 and $9,000 annually.
“The RATE Coalition is proud to join the Trump Administration and the growing chorus of leaders from across the ideological spectrum in fighting for that win for America’s workers.”