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 Senate’s passage of the Tax Cuts and Jobs Act Conference Report:
“We applaud the Senate with great enthusiasm for voting to reduce the record-setting rate at which American businesses of all sizes are taxed – currently the highest in the industrialized world and a full fifteen percentage points above the average offered by our global competitors.
“As a direct result of the determination displayed by this Congress, job creators will no longer be penalized simply for doing business in this country. The achievement of a globally competitive corporate rate will prove to be the critical component of a tax reform package that will boost economic growth in America with greater investment and more jobs.
“Just like the tax code itself, the process of reforming it has indeed been long and complex. Yet, together with Trump Administration officials and their counterparts in the House, Leader McConnell and Chairman Hatch tackled this historic challenge with historic efforts. We commend their work and look forward to President Trump’s swift signing of this landmark legislation.”