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 Tax Cuts and Jobs Act conference committee’s open meeting:
“Today’s conference committee meeting is an important step forward in this once-in-a-generation opportunity to fix our deeply broken business tax system. To echo the call we made at the very outset of this historic push, when legislators meet in Washington regarding our tax code, it is our hope that they will consider the meetings held by job creators across America because of our tax code – from the small business owner contemplating how to comply with a complex code to the supplier wondering how to grow with an uncompetitive rate.
“Left virtually untouched since 1986, America’s combined corporate tax burden of nearly 40 percent is now the highest in the industrialized world after our global competitors spent the last three decades racing to reduce their rates. The achievement of a globally competitive corporate rate on a permanent basis – as passed by both the House and the Senate – would restore our edge and therefore, boost economic growth with more jobs and greater investment.
“President Trump has been consistent in his call for the Tax Cuts and Jobs Act to reach his desk for signature as expeditiously as possible. We join the President in urging Congress to deliver this win for American workers with the degree of swiftness they deserve. After more than three decades, it’s time to give ourselves the chance to compete globally with a fairer, simpler tax code.”