Ways and Means Republican Leader Rep. Kevin Brady (R-TX) and Rep. Adrian Smith (R-NE), top Republican for the Select Revenue Measures Subcommittee, announced a meeting entitled “Democrats’ Made-in-America Tax Sends Jobs Overseas, Slows Growth and Investment” on Tuesday, November 16, at 11 AM ET.
- Kevin Hassett, Distinguished Visiting Fellow, Hoover Institution; former Chairman of the White House Council of Economic Advisers.
The meeting will feature a discussion on how the Biden Administration’s Made-in-America Tax proposal discourages investment in new technology and new equipment, slows growth, and makes it harder for companies to invest in the productivity of their workers.
The corporate book income provision, which is untested and unvetted, is essentially a Made-in-America Tax. The nonpartisan Joint Committee on Taxation says that the middle class would shoulder a third of corporate taxes under the Democrats’ Made-in-America Tax that hurts U.S. manufacturing, energy and technology industries harshest.
The tax targets the 200 largest employers in the U.S. from John Deere to Home Depot, and hits hardest manufacturing, energy, and technology firms.
Democrats’ proposed global tax surrender makes it better to be a foreign company or worker than an American one.
This meeting will take place remotely via Cisco WebEx video conferencing.
Members of the public may view the meeting via live webcast available on the Ways and Means Committee Republicans YouTube page HERE.