The Reforming America’s Taxes Equitably (RATE) Coalition – whose affiliated companies represent over 30 million employees in all 50 states – released the following statement on the passage of the Senate’s budget resolution by the House of Representatives:
“We applaud the House for adopting the Senate’s budget resolution – and therefore, advancing the path forward for historic tax reform. Thanks to the House and Senate, the American people are now one step closer to receiving the pay raise they deserve. According to the Council of Economic Advisers, enactment of the Unified Framework would put more money in the pockets of more workers. The reduction of America’s corporate tax rate to a globally-competitive level, per the CEA, would yield an increase in the average household income by between $4,000 and $9,000 annually.
“It is extremely encouraging that both chambers of Congress stand united in achieving the goal considered critical by leaders across the ideological spectrum: unshackling America from the highest corporate tax rate in the industrialized world. Now that the door to meaningful, comprehensive tax reform has been unlocked for the first time in more than 31 years, America’s job-creating businesses and the workers they employ are counting on Congress to sprint through it.”