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June 24. 2016

ACT Statement on House Republican Tax Reform Blueprint

WASHINGTON – The Alliance for Competitive Taxation (ACT), a coalition of more than 40 American businesses that employ millions of American workers, issued the following statement regarding the Tax Reform Blueprint released today by House Speaker Paul Ryan (R-WI) and Ways and Means Committee Chairman Kevin Brady (R-TX):

“ACT applauds Speaker Ryan, Chairman Brady and House Republicans for designing a comprehensive new approach to addressing our outdated and complicated tax system. The U.S. desperately needs a simpler, fairer, and more competitive tax system and this blueprint includes important new ideas for developing a tax reform plan that is good for our economy, workers and businesses – small and large. ACT will undertake a thorough analysis of this innovative tax plan to understand all of its ramifications.

“Today, ACT reaffirms our commitment to working with leaders in Congress to make common-sense changes to our corporate tax code, including setting a more globally competitive tax rate, establishing a modern international tax system that is better aligned with the rest of the world and eliminating tax breaks and preferences to pay for it. Tax reform done right will create jobs and opportunities for workers, boost investment in the U.S., foster innovation at home and prevent foreign takeovers of U.S. businesses.”

About ACT:

ACT is comprised of leading American businesses that employ millions of American workers from a broad range of industries, including technology, manufacturing, services, and retail. ACT members support comprehensive tax reform that provides a competitive corporate tax rate and modern international tax system that aligns the United States with the rest of the world. We believe tax reform should simplify the tax code, promote economic growth, and should be fully paid for by ending tax breaks and preferences. For more information about ACT, visit www.ACTonTaxReform.com.