Claire Buchan Parker, Coalition Spokeswoman
07/31/2013
Washington, D.C. – Yesterday, President Obama spoke of the need to lower the U.S. corporate tax rate – now the highest in the world – and the urgency behind fixing a broken tax code that has become far too burdensome. The President’s recognition of this critical problem is important; there is a key link between sound tax policy and creating a business environment that generates quality jobs in the United States.
However, the President’s proposal fails to offer the necessary solutions to our fundamental tax problems, and cannot be considered the comprehensive reform that U.S. businesses of all sizes are desperately seeking. In addition, the proposal would further disadvantage globally engaged U.S. companies by imposing a contradicting set of policies and tax increases.
Any pro-growth, pro-jobs tax reform package must include transitioning the U.S. to a modern, hybrid international tax system – similar to the one used by our trading partners – that would promote U.S. investment, while protecting America’s tax base. This cornerstone of reform has been examined extensively in Congress, and we are hopeful that President Obama will join Chairmen Baucus and Camp in their bipartisan efforts to see it become a reality.
President Obama is right – Americans deserve a better deal than the current tax code is providing them. But more than any government program, international tax reform would unleash the stimulus effects of $2 trillion in private investment; strengthening American competitiveness around the world and leading to new jobs and opportunities here at home. LIFT America encourages President Obama to support the solution that best reflects our 21st Century challenges and places American workers on a level playing field so they can better compete and win.
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Let’s Invest for Tomorrow (LIFT) America is a coalition of U.S.-headquartered companies, trade associations and economic stakeholders representing industries that are critical to the American economy. To strengthen American competitiveness in the global marketplace, the coalition supports a modern, hybrid international tax system – similar to the one used by our trading partners – that would promote increased U.S. investment, while protecting America’s tax base.
Media Inquiries:
To schedule an interview with Spokeswoman Claire Buchan Parker, please contact the Coalition by phone: 855-207-5548 or email: LIFTAmericaCoalition@gmail.com.