“Just like the makeup of the 116th Congress, the broad coalition of those who called for a globally competitive corporate tax rate was comprised of bipartisan lawmakers from across the political spectrum, including Democratic leaders Nancy Pelosi and Chuck Schumer.

“The tremendous success of our new business tax system – which ranges from the record high levels of job openings to the generational low 3.7% unemployment rate – demonstrates precisely why its achievement was a decades-long priority for both political parties. All across America, workers and consumers continue to benefit from the Tax Cuts and Jobs Act through meaningful tax reform bonuses, wage increases, 401(k) contributions, and utility rate cuts. As the latest jobs report – which ‘smashes expectations‘ – reveals, wages are growing at their fastest pace since 2009 and ‘the rapidly growing economy generated a robust 250,000 new jobs…keeping the unemployment rate at a 48-year low.’ Overall, our economy – which just reclaimed its spot as the world’s most competitive – is enjoying the ‘strongest back-to-back quarters of growth since 2014,’ with more than 2.1 million jobs created since the passage of tax reform.

“As America’s global competitors take steps to lower their respective rates and undercut our recently restored edge, the RATE Coalition will continue to work tirelessly on a bipartisan basis to protect the corporate tax rate responsible for generating such critical economic wins in all corners of the country.”

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BACKGROUND:

Democratic Leaders Nancy Pelosi And Chuck Schumer On The Importance Of Corporate Tax Reform: