Washington, D.C. – Claire Buchan Parker, spokeswoman for the LIFT (Let’s Invest for Tomorrow) America Coalition, issued the following statement regarding President Obama’s Fiscal Year 2015 Budget:
“While President Obama should be credited for certain pro-growth proposals in his FY 2015 budget request to Congress, namely lowering the U.S. corporate tax to a more competitive level; his budget plan ultimately moves the United States further away from the global trends of modern international taxation and will directly inhibit our nation’s ability to attract investment, create jobs here at home and strengthen our economic competitiveness.
In addition, instead of using revenues gained via corporate tax reform to permanently transition the U.S. to a modern international system, the president would use those funds for unrelated government spending. The president’s budget also jumps ahead of multilateral efforts to change international tax practices, and does so in a way that would penalize American companies more than it would change the behavior of companies headquartered outside the United States. Together, this approach would only make it more difficult for American workers and American-headquartered companies who must compete and win customers in markets all over the world.
The budget plan also fails to reflect the numerous non-partisan economic advisory commissions that President Obama himself appointed, and which recommended that the U.S. move to 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.
Consequently, the president’s FY 2015 budget fails to offer the necessary solutions to our fundamental tax problems and 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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About the LIFT America Coalition:
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 Inquires:
To schedule an interview with Spokeswoman Claire Buchan Parker, please contact the Coalition by phone: 855-207-5548 or email: LIFTAmericaCoalition@gmail.com.