Touts pro-growth, globally competitive corporate tax Rate.
Urges Members to “eliminate wasteful loopholes rather than our country’s new competitive corporate rate and the jobs it generates”
WASHINGTON, D.C. – Former United States Senator Blanche Lincoln (D-AR) today submitted testimony for the record of the U.S. House Ways and Means Committee’s “Field Hearing on the State of the American Economy: The South” in support of a pro-growth, globally competitive corporate tax regime.
The Senator’s testimony touts the benefits of the 2017 Tax Cuts and Jobs Act and emphasizes the vital role a pro-growth, competitive corporate tax system plays in fostering sustained economic growth, promoting broad-based prosperity, and creating opportunities for communities in the south and across the nation.
Drawing on her years of experience representing Arkansas in both the U.S. House and Senate, Lincoln also highlights the importance of small businesses to local communities in the South and explains how a corporate tax hike would lead to higher taxes for approximately 1.4 million small businesses, employing roughly 13 million Americans.
In addition, Senator Lincoln cautions against the Biden administration plan raising the corporate rate to 28 percent, explaining that “such a high tax burden would undercut American competitiveness and levy devastating consequences for American businesses, workers, and families.”
Click here to view Senator Lincoln’s testimony.
BACKGROUND:
- Senator Blanche Lincoln, a former U.S. Senator from Arkansas and RATE Coalition advisor, served in the U.S. House of Representatives from 1993-1997 and the U.S. Senate from 1999-2011.
- RATE Coalition members employ 53 Million Americans working in all 50 states. Our objective is to maintain America’s globally competitive corporate tax rate and create the best climate for our nation’s economy, job creators and workforce to succeed into the future. Learn more at RATEcoalition.com.
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