The Reforming America’s Taxes Equitably (RATE) Coalition – whose affiliated companies represent over 30 million employees in all 50 states – released the following statement in advance of President Trump’s State of the Union address:
“As a direct result of President Donald J. Trump’s signing of the Tax Cuts and Jobs Act, the state of our union is more prosperous. Landmark legislation that has already lived up to its name, the TCJA created a code that raises wages instead of taxes. Throughout these five short weeks since the TCJA became law, nearly three hundred companies announced a surge of salary increases, renewed investment in America, and other employee benefits like increased 401(k) match and stock grants. The beneficiaries of tax reform bonuses alone amount to three million American workers and counting, spanning sectors from coast to coast. On a daily basis, our new globally competitive corporate tax rate demonstrates precisely why tax reform was a bipartisan goal for decades. The determination displayed by President Trump and leaders in Congress in achieving what was previously considered unattainable is a towering accomplishment that’s redefined what’s possible in Washington.
“The RATE Coalition is proud to have played our part in this once-in-a-generation fix to our broken business tax system – and far more importantly, in the extraordinary results it continues to yield for American workers.”