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 Tax Cuts and Jobs Act by the House of Representatives:
“Undaunted by the magnitude of this moment, the House of Representatives just took a tremendous stride towards delivering historic tax reform. Left virtually untouched for more than three decades, America’s chart-topping corporate tax rate – the highest in the industrialized world – has proven to be a burden borne by American workers and beloved by the rest of the world. As analyses continue to confirm, the Tax Cuts and Jobs Act’s achievement of a globally competitive corporate rate on a permanent basis is precisely what’s needed to grow our economy, create new jobs, and boost workers’ wages.
“We applaud the House for meeting the historic timetable it charted – and more importantly, for following through on its commitment to the American people. And while this moment should be recognized for the epic accomplishment that it is, this is not a moment to rest. Instead, job creators of all sizes must act with urgency to support the Senate as it takes action to write America’s next chapter in economic prosperity.”