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May 19. 2017

ICYMI – ACT Company CEOs Tell Congress How Tax Reform will Grow our Economy and Create Jobs


ICYMI – ACT Company CEOs Tell Congress How Tax Reform will Grow our Economy and Create Jobs
Emerson and S&P Global CEOs Testified in Front of the Ways and Means Committee This Week

WASHINGTON – On Thursday, CEOs from two companies in the Alliance for Competitive Taxation testified at a Ways and Means Committee hearing about the benefits of tax reform for our economy and workers.

In written testimony, David Farr, Chairman and CEO of Emerson explained the economic benefits of tax reform that includes a modern international tax system: “Adopting a tax system that is comparable to tax systems in other industrial countries is critical to the ability of manufacturers in the United States to compete in the global marketplace. A territorial tax system will impact jobs at U.S. operations, increase exports from manufacturers in the United States, improve the efficiency of supply chains and make U.S. based manufacturing more competitive and better positioned to win.”

Douglas L. Peterson, President and Chief Executive Officer, S&P Global Inc. weighed in on the importance of setting a competitive U.S. corporate tax rate: “Our country’s high statutory rate hinders the ability of U.S. companies to successfully compete on the global stage. A lower tax rate would not only help curb the exit of U.S. companies from our great country but would also create a powerful incentive for others to move here.”

The Alliance for Competitive Taxation has called on Congress and the Trump Administration to work together on a comprehensive approach to pro-growth, permanent tax reform that will encourage investment, innovation and job creation in the United States. In response to yesterday’s hearing, the coalition submitted a statement for the record to the Ways and Means Committee, which can be viewed here.

Click here to view the testimonies of the two CEOs.

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About ACT
ACT is comprised of leading American businesses that employ millions of American workers from a broad range of industries, including technology, manufacturing, and services. 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.