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What They’re Saying: Joint Statement on Tax Reform

July 28, 2017

Yesterday, House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY), Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch (R-UT), and House Ways and Means Committee Chairman Kevin Brady (R-TX) released a joint statement on tax reform.

Following the statement, major conservative groups and business organizations expressed their strong support for the statement and the need for Washington to act now on pro-growth tax reform.

Conservative Groups

Heritage Action: “Heritage Action applauds President Trump and congressional leaders for uniting behind a coherent set of principles that, if translated into policy, would unleash economic growth, create jobs and increase wages.”

Americans for Tax Reform: “This bold plan is the key to unlocking at least three percent economic growth, creating millions more jobs, and giving American families lower taxes and more take-home pay.”

Americans for Prosperity: “We will continue working with lawmakers and the White House to advance our positive vision for a tax code built on principles of simplicity, equitability, efficiency and predictability – without creating new taxes.”

Club for Growth: “The Club strongly supports lower tax rates for individuals and businesses, lower taxes on capital, and a simplified tax code that supercharges the economy.”

FreedomWorks: “It’s time to get our economy growing again…FreedomWorks and our activist community have waited a long time for this moment, and we’re ready to get started to make tax reform a reality.”

Business Organizations

Chamber of Commerce: “The engagement and enthusiasm for pro-growth tax reform from Trump administration officials and Congressional lawmakers is what will propel this over the finish line for American businesses, workers, and families.”

American Farm Bureau Federation: “America’s farmers and ranchers are encouraged to see that key congressional leaders and the administration understand how important tax reform is to all Americans. Fixing our tax system now is crucial to creating economic opportunities for farmers, ranchers and other family-owned businesses.”

Business Roundtable: “Business Roundtable has long stated that any successful reform must contain two key principles: a globally competitive U.S. corporate tax rate and a modern international tax system that does not penalize U.S. companies that seek to bring earnings made in other countries back to the United States. Today’s announcement embraces those principles.”

Securities Industry and Financial Markets Association: “Modernizing the Internal Revenue Code is critical to all Americans and has the potential to unleash unprecedented economic growth.  Our members recognize the need to address outdated business and international tax rules that are out of step with the tax regimes of our major trading partners.”

Rate Coalition: “… lowering the corporate tax rate to a globally-competitive level: it is the most important action we can take to grow our economy…”

American Petroleum Institute: “Tax reform focused on economic development can benefit American consumers, businesses and the economy.”

Information Technology Industry Council: “For tech, tax reform ‘done right’ can’t come soon enough. To have Congress and the White House unified like this means that not only is the band getting together, they’re singing the same tune.”

Small Business & Entrepreneurship Council: “We are well on our way to a modern tax system that encourages small business success, and robust capital formation and entrepreneurship in America.”

Financial Services Roundtable: “They agree on key principles necessary to enact tax reform that will help jumpstart economic growth and create quality jobs for the American people.”

National Association of Wholesaler-Distributors: “It sets forth goals for real reform of our outdated tax system which focus on encouraging economic growth and treating individuals and businesses fairly.”