Washington, D.C. – There is growing bipartisan support for comprehensive tax reform in 2013. This starts with agreement that our tax system is broken and the status quo is failing our economy, businesses and mostly importantly our workers competing in the global marketplace.
The LIFT America Coalition appreciates the ongoing efforts of Chairman Dave Camp (R-MI) and the members of the House Ways and Means Committee to reform the U.S. tax code for the benefit of all Americans. Their work is the driving force behind the first meaningful review of our international tax laws in more than a half century.
The LIFT America Coalition believes that comprehensive tax reform must include the enactment of a competitive and modern international tax system, similar to the one used by our trading partners.
This overdue reform should incorporate the following principles:
- Modernize our tax laws to provide a level playing field for American workers competing in the global marketplace to sell more U.S. goods and services;
- Simplify the tax code and make reforms permanent, as we cannot afford the patchwork of fine print that locks in the status quo and locks out $1.7 trillion in private investment;
- Prevent tax base erosion and abuse by creating clear, manageable standards for globally engaged U.S. companies who continue to pay taxes owed in the United States and abroad;
- Reduce the corporate tax rate to make it more competitive with our nation’s major trading partners and increase domestic investment; and
- Ensure tax reform will be revenue neutral with the goal of promoting the free flow of investment into the U.S. and making America the most attractive place to hire and invest in the world.
We thank the International Tax Reform Working Group for the opportunity to share our recommendations. The members of LIFT America look forward to discussing these issues further and working with the rest of the Committee to achieve a pro-growth, pro-competitiveness international tax system.
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To schedule an interview with Spokeswoman Claire Buchan Parker, please contact the Coalition by phone: 855-207-5548 or email: LIFTAmericaCoalition@gmail.com.