On Tax Day, 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 support of the corporate tax reform once called for by Tax March 2018 speakers Nancy Pelosi and Chuck Schumer:
“‘It is long past time for tax reform that would lower the corporate rate’ – Democratic Leader Nancy Pelosi, 4/5/16
“‘I’m game to do it because I think it’s really important for American competitiveness’ – U.S. Senate Minority Leader Charles E. Schumer, 4/26/16
“After America’s broken tax system saddled job creating businesses of all sizes – and the workers they employ – with the highest rate in the industrialized world, it is abundantly clear why Tax March 2018 speakers Nancy Pelosi and Chuck Schumer once sought to achieve corporate tax reform. As a direct result of the globally competitive corporate rate established by the Tax Cuts and Jobs Act last year, a growing list of more than 500 businesses rewarded their workers and customers alike with tax reform bonuses, wage increases, 401(k) contributions, and lower utility rates.
“On this final Tax Day with an outdated tax code, the RATE Coalition applauds the achievement of a bipartisan goal called for by a chorus of leaders from across the ideological spectrum – including former presidents Barack Obama and Bill Clinton – and reaffirms our commitment to protecting America’s new competitive edge.”