What Job Creators Of All Sizes Are Saying About The Unified Framework for Fixing Today’s Broken Tax Code 

September 28, 2017 — In Case You Missed It...   

Yesterday, House Ways and Means Committee Chairman Kevin Brady (R-TX), House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY), Senate Finance Committee Chairman Orrin Hatch (R-UT), Treasury Secretary Steven Mnuchin, and National Economic Council Director Gary Cohn released the unified framework for fixing today’s broken tax code.

Today, over two hundred job creators of all sizes who employ millions of hardworking Americans representing a variety of industries urged Congress to pass a budget and enact the unified framework for pro-growth tax reform. In a letter, they wrote:

“We urge Congress to expeditiously pass a budget resolution with reconciliation instructions so that promise of tax reform can be made a reality.”

U.S. Chamber of Commerce

“In our view, failure is simply not an option. The competitiveness of American workers and businesses —and a stronger economy — depend on pro-growth tax reform.”

 National Federation of Independent Business

“We are pleased to see that the initial plan calls for reducing taxes on pass-through companies, which represent the overwhelming majority of American small businesses.”

Business Roundtable

“Today’s announcement is an encouraging step forward in our shared goal of a tax system that delivers higher economic growth, job creation and wages that our country desperately needs.”

 National Association of Manufacturers

“This tax reform framework is the type of bold action manufacturers have been calling for because it will spur economic growth for all Americans.”

S Corporation Association of America

“The Framework announced this morning would help Main Street employers by lowering tax rates, eliminating the Alternative Minimum Tax, and repealing the estate tax.”

 Americans for Affordable Products

“The tenets of the outlined proposal will result in greater economic growth and job creation, while also simplifying the tax system in a manner that will benefit all Americans, including millions of consumers.”

National Retail Federation

“This plan would provide much-needed relief for corporations, small businesses and middle-class individuals alike, and would help draw foreign capital and investment to the United States.”

 Retail Industry Leaders Association

“Today’s announcement…on a framework to overhaul our current system is a step in the right direction to put money back into family budgets and keep America competitive in the global marketplace.”

Walmart

“The framework recognizes the need to advance tax reform options that encourage investment in the United States, make U.S. businesses more competitive around the world, and help working families.”

 Target Corporation

“Target supports the tax reform framework released today… As a company, we are in favor of lowering the tax rate to help ensure our continued investment in the Target team, our business and the communities we serve.”

Best Buy

“I am encouraged by the latest details released… the country has a real opportunity to achieve significant tax reform which will allow companies to reinvest in jobs, grow the economy and create opportunities for all Americans.”

American Chemistry Council

“We applaud the White House and Republican leaders in Congress for taking the next step toward modernizing our nation’s tax code.”

Association of Equipment Manufacturers

“The unified tax reform framework released today by leaders in Congress goes great lengths toward meeting AEM members’ goals.”

Information Technology Industry

“This is a serious proposal that has the potential to jump-start the economy and is deserving of our serious attention and praise.”

United Technologies Corporation

“UTC applauds the Big Six for providing a framework of pro-growth tax reform principles… The goals of competitiveness, simplification and fairness are too important to miss this opportunity.”

Semiconductor Industry Association

“The tax reform framework is a step forward to make the U.S. corporate tax system more competitive and allow U.S. semiconductor companies to continue to grow and innovate here at home.”

Entertainment Software Association

“…the Entertainment Software Association (ESA) writes to express our support for the pro-growth tax reform plan outlined in your unified framework released today.”

IBM

“On tax reform, the President and congressional leadership have decided to go big and bold, and IBM welcomes today’s proposal.”

 TechNet

“This tax reform plan would provide a needed jolt to our economy and create a new wave of innovation and investment in the United States.”

 Cisco

“By modernizing the U.S. corporate tax code, the plan unveiled today would unleash a new wave of innovation, investment, and entrepreneurship in the United States.”

 AT&T

“The tax framework released today is a big step toward meaningful reform that would encourage more investment and job creation in the United States.”

American Farm Bureau Federation

“The tax-reform framework announced today is an important step toward a fair and equitable tax system that encourages success, savings, investment and entrepreneurship.”

National Cattlemen’s Beef Association

“Our Nation’s cattle producers are very pleased that President Trump and Republican leaders in Congress have maintained their long-standing commitment to American agriculture by including a full repeal of the onerous death tax…”

Save Our Savings Coalition

“The proposal released today makes clear that tax reform should ‘maintain or raise retirement plan participation of workers and the resources available for retirement’ – and the Save Our Savings Coalition certainly agrees.”

Financial Services Roundtable

“The Big Six tax announcement reflects a commitment to delivering a simpler and fairer tax code that grows the economy and benefits more hardworking Americans.”

Securities Industry and Financial Markets Association

“SIFMA strongly supports tax reform and we are encouraged that the Framework announced today is another step toward a fair and competitive result for our members and their clients.”

American Council for Capital Formation

“All of these elements are important for any tax reform proposal that seeks to unlock the potential of the American economy by building a tax code oriented toward growth.”

RATE Coalition

“If enacted, the framework would be the first meaningful, comprehensive effort to fix our broken tax system in more than three decades.”

Coalition for Fair Effective Tax Rates

“We believe the plan makes major strides toward accomplishing an important goal: Creating a more level playing field for businesses of all sizes across all industry sectors.”

CRANE Coalition

“This new framework makes important progress toward long-overdue tax reform and embraces rapid cost recovery as a necessary tool to meet the common goals of more domestic investment, greater economic growth and new jobs.”

American Made Coalition

“We are encouraged that the framework includes a significantly lower corporate tax rate and ends the penalty on American companies that do business around the globe – two critical components for generating long-term economic growth.”

Alliance for Competitive Taxation

The framework released today marks an important step toward modernizing our outdated tax code.”

UPS

“Tax reform is one of the single most important things this Congress and Administration can do for American competitiveness.”

Motion Picture Association of America

“Meaningful tax reform, as reflected in this framework, will promote our nation’s global competitiveness and encourage more domestic production and jobs in American industries, including film and television.”

National Association of Wholesaler-Distributors

“We commend the House and Senate leadership, the Chairs of the tax-writing committees, and the Administration for advancing a bold framework for real tax reform.”  

Koch Industries

“The immediate next step is clear, and critical: The Senate and House must expeditiously pass a budget resolution that will allow this framework to take legislative form and reach the president’s desk.“

Organization for International Investment

“While many of the details of tax reform must be flushed out, today’s framework offers millions of U.S. workers hope that economic growth and greater prosperity can be achieved.”

American Petroleum Institute

“Our industry supports pro-growth tax reform, and today leaders in Congress and the administration demonstrated their commitment to achieving this shared goal.” 

Grocery Manufacturers Association

“Release of this new framework is a critical step towards vitally needed tax reform that will generate economic growth.”

Associated General Contractors of America

“The tax reform framework is a step in the right direction.”

21st Century FOX

“We are encouraged to see progress being made toward meaningful tax code reforms that would help grow the U.S. economy and boost the ability of American businesses, like ours, to invest here at home and compete in the global marketplace.”

National Association of Broadcasters

“NAB supports today’s outline and the efforts of leaders in the U.S. Senate, House of Representatives and Administration to reform and simplify the tax code in a manner that will grow America’s economy.”

National Ocean Industries Association

“Creating a fairer and more competitive tax system will help bring more jobs, more investment and more opportunity to America’s energy industries, whether producing wind, oil or natural gas in the Gulf of Mexico, the Arctic or the Atlantic.” 

IPC – Association Connecting Electronics Industries

“Reforming the tax code is critical to the global competitiveness of the U.S. electronics industry, and IPC commends the administration for taking this first important step.” 

NCTA – The Internet & Television Association

“Today’s announcement is a welcome first step by leaders in Congress and the Administration to stimulate the economy and make our nation globally competitive by reforming and simplifying the tax code for all taxpayers.”