Claire Buchan Parker, Coalition Spokeswoman
11/19/2013
Washington, D.C. – The Senate Finance discussion draft released today represents another milestone in the long overdue effort to overhaul America’s international tax laws, yet instead of moving the United States closer to a more competitive tax system, the draft’s provisions actually take the nation further away from the pro-growth, pro-jobs business tax reform that American companies and workers are seeking.
The members of the LIFT America Coalition look forward to reviewing this and subsequent drafts closely, and will continue to engage committee members on bipartisan policies that level the playing field for American companies competing in a highly competitive global marketplace. However, the Coalition cannot support policy provisions that are punitive against globally engaged American headquartered companies and make them increasingly vulnerable to takeover by competitors who are not subject to similar tax regimes either in the U.S. or in their home country.
If our political leaders in Washington want to enable American companies to thrive and win customers around the world, then they must move forward with comprehensive tax reform that strengthens American competitiveness in the global marketplace. The cornerstone of this reform is 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.
Any legislative proposal that fails to offer the necessary solutions to our fundamental tax problems cannot be considered the comprehensive, long-term reform that American businesses of all sizes desperately need in a 21st century economy.
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