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June 04. 2013

The Case for Pro-Growth Tax Reform

By: ACT Staff

ACT is committed to working with Congress and the Administration on bipartisan comprehensive tax reform that spurs job creation and provides a level playing field for American businesses and workers to compete in todays global economy.

Comprehensive pro-growth tax reform will unleash the power and dynamism of Americas economy to give American workers and American companies – large and small – greater opportunity to compete and succeed in today’s increasingly global economy.

Pro-growth tax reform will allow us to shed the highest corporate tax rate in the developed world, increasing rewards for investing, manufacturing, and innovating in America.

Pro-growth tax reform will allow American businesses and workers to compete in a world of accelerating economic change by getting rid of outdated rules from a tax system last reformed long before the Internet was a fixture of everyday life – rules that impede American businesses and American workers competing in the global marketplace.

Pro-growth tax reform will give us a simpler, less confusing, fairer, and more efficient tax system that is free of the special preferences, incentives, and fine print that riddle it today, and distort investment decisions and harm economic growth. A simpler tax code for business means less spending on tax compliance and more money to grow the economy by investing and hiring.

Pro-growth tax reform will bring us a modern globally competitive tax system aligned with the rest of the world, one that ensures American companies compete on a level playing field in the global marketplace. A modern hybrid international tax system will –

  • promote domestic manufacturing and innovation,
  • remove constraints on the free flow of capital so American companies can invest their foreign earnings at home,
  • encourage global companies to locate their headquarters in the United States, and
  • protect the U.S. tax base.

Pro-growth tax reform will encourage more investment in the United States, so essential to stronger economic growth and a more broadly-shared prosperity. With greater investment in America, we will reward entrepreneurial innovation, enterprise, and initiative, and foster the creation of more and better-paying American jobs.

Working together, we can achieve comprehensive tax reform now to create a stable, simpler, and fairer tax system – that will encourage domestic investment and create more high paying jobs for American workers.  A piecemeal approach will only leave American businesses – large and small – and American workers unfairly disadvantaged by an outdated and burdensome tax system in today’s fiercely competitive and increasingly global economy.

No more kicking the can down the road. America needs us to act now!