In advance of the 31-year anniversary of the last time Washington provided meaningful tax reform for the American people, the Alliance for Competitive Taxation (ACT), Job Creators Network (JCN), and Reforming America’s Taxes Equitably (RATE) Coalition sent a letter to members of the House of Representatives urging the swift adoption of the FY 2018 Budget Resolution approved this week by the United States Senate.
The Senate’s budget is the master key capable of unlocking both tax reform and the pay raise it would yield for America’s workers. The ACT, JCN, and RATE Coalition therefore believe it is absolutely critical for the House to act as expeditiously as possible.
The letter can be read in its entirety below:
On October 22, 1986, President Ronald Reagan joined Democrats in enacting what remains the most recent, comprehensive reform of America’s tax system. Tomorrow’s date, however, isn’t so much an anniversary of that reform as it is a memorial of that resolve, which has remained absent ever since.
Throughout the course of the past thirty-one years, the United States has shackled itself to the sidelines with a broken, outdated code – causing more than 4,700 American companies to flee overseas to more lucrative shores from 2004 to 2016 alone. All the while, countries around the world have raced to reduce the rates at which job-creating businesses are taxed and have adopted modern territorial tax systems.
The dissonance between our competition’s initiative and our country’s inaction has created a self-inflicted economic burden that is saddling businesses of all sizes and the American workers they employ.
Amid the once-in-a-generation opportunity before you, the American people are counting on Congress to right those wrongs. Adopting the budget resolution passed by the United States Senate this week is the master key capable of unlocking both tax reform and the pay raise workers deserve. As the Council of Economic Advisers reported, the reforms included in the Unified Framework would “increase average household income in the United States by, very conservatively, $4,000 annually.”
The Alliance for Competitive Taxation (ACT), Job Creators Network (JCN), and Reforming America’s Taxes Equitably (RATE) Coalition stand united in strongly urging the People’s House to live up to its name by delivering that critical win for households across your district.
Your willingness to adopt the Senate’s budget resolution as expeditiously as possible is the only thing standing between American workers and the pay raise currently being withheld from their wages.
The Alliance for Competitive Taxation
Job Creators Network
Reforming America’s Taxes Equitably (RATE) Coalition