New Polling Demonstrates Broad Support for Tax Reform
By ACT Staff
A new poll from the RATE Coalition shows that Americans are fed up with our outdated, anticompetitive tax code. Broad majorities support a bipartisan effort to modernize and reform our tax system to encourage American businesses to grow, invest, and locate here in the United States.
RATE’s research shows that 67 percent of Americans favor a bipartisan effort to lower the U.S. corporate tax rate – currently the highest in the developed world.
As ACT has previously noted, our inefficient, outdated tax code is encouraging American businesses to relocate abroad. This new poll shows that Americans understand the problem: 79 percent agree that “A number of large corporate businesses have moved some or all business operations from the U.S. to countries with tax rates lower than the 35% rate of the U.S. Having the highest corporate tax rate in the world puts U.S. businesses at a competitive disadvantage, encourages these businesses to leave our shores for more tax-friendly countries, and ultimately threatens good-paying American jobs.”
RATE further notes that “There is broad bipartisan support for lowering the corporate tax rate in the United States from 35% to 25% and eliminating corporate loopholes to pay for it. Not only do six-in-ten (60%) back the idea, but the bloc that strongly supports it (29%) is twice as large as those strongly oppose it (15%).”
It’s clear that Americans understand the need for tax reform that will help U.S. companies compete in the global marketplace. A modernized tax system would create jobs, improve the domestic economy and benefit American workers. Our elected officials in Washington should follow the lead of the American people and act now to reform our tax code.
You can see more of the poll results here (pdf).