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 United States Senate’s tax reform proposal:
“The determination to achieve a globally competitive corporate tax rate has long been bipartisan. We are very encouraged that today, it officially became bicameral. The Senate’s proposal is a stride towards fixing America’s deeply broken corporate tax system – one that punishes job-creating businesses and the workers they employ with the highest rate in the industrialized world.
“The shared commitment among both chambers of Congress and the Trump Administration to reduce America’s chart-topping corporate rate on a permanent basis is a telling testament to the importance of doing so. A lower rate would, according to the CEA and a flurry of other economic analyses, provide American workers with the pay raise they deserve and increase average household income by between $4,000 and $9,000 annually.
“We look forward to reviewing the details of the Senate’s proposal.”