August 04,2017

Press Contact:

Katie Niederee, Julia Lawless (202)224-4515

Pro-Growth, Pro-Middle Class Tax Reform

A Look At What They’re Saying

With the 115th Congress well underway, Republicans remain committed to advancing a strong, pro-growth agenda that will yield bigger paychecks, better jobs, and more opportunity for all Americans. And, at the top of the list is an overhaul of the broken U.S. tax code.

In fact just last week, Senate Finance Committee Chairman Orrin Hatch joined the Senate Majority Leader, Speaker of the House, House Ways and Means Committee Chairman, Treasury Secretary and the National Economic Council Director in issuing a joint statement on the importance of this endeavor noting: “We are all united in the belief that the single most important action we can take to grow our economy and help the middle class get ahead is to fix our broken tax code for families, small business, and American job creators competing at home and around the globe. Our shared commitment to fixing America’s broken tax code represents a once-in-a-generation opportunity…”

As the tax-writing committees in both the Senate and the House work to advance current tax reform efforts in Congress, thought leaders, stakeholders, and tax experts across the country welcomed Washington’s commitment to remaking the tax code and highlighted the economic benefits this effort will bring.

Here is a look at what they’re saying:

“Momentum is clearly building for passage of tax reform this year. The economy urgently needs pro-growth reform so companies can invest and create more high-quality jobs. In a recent Roundtable survey, 76 percent of CEOs said they would increase hiring if the tax system is reformed, and 82 percent they would increase capital spending. Conversely, 90 percent of CEOs said that delaying tax reform will harm the economy.”  —Business Roundtable

“The engagement and enthusiasm for pro-growth tax reform from Trump administration officials and Congressional lawmakers is what will propel this over the finish line for American businesses, workers, and families. The U.S. Chamber applauds the work that has been done to narrow the differences and we look forward to continuing to engage policy makers on this critical issue.” —U.S. Chamber of Commerce

“Today’s announcement reflects Republican leaders have a unified purpose. They agree on key principles necessary to enact tax reform that will help jumpstart economic growth and create quality jobs for the American people.” –Financial Services Roundtable

“We agree that fixing America’s broken tax code is a critical priority for the economic strength of our country. It begins with lowering the corporate tax rate to a globally-competitive level: it is the most important action we can take to grow our economy, create jobs and put more money in the pockets of American families and workers.” —The RATE Coalition

“We hope these concepts will soon be developed into comprehensive tax reform legislation that creates a more level playing field for businesses of all sizes across all industry sectors.” —The Coalition for Fair Effective Tax Rates

“Finally, we have a real path to more take home pay for millions of Americans, more money for savings and our children’s future. We have a real chance to build a solid economic foundation in the United States that will generate more jobs, more investment and more growth—and greater wealth that can be shared by all.” —National Association of Manufacturers

“This move sets the stage for Congress to put tax reform on its agenda. Not only will reform strengthen our economy, but by addressing key issues like overall tax rates, capital gains taxes and enhanced expensing, it will be good for farms and other businesses.” —American Farm Bureau Federation

“The joint White House, Senate, and House statement proves that tax reform is on schedule for 2017…This bold plan is the key to unlocking at least three percent economic growth, creating millions more jobs, and giving American families lower taxes and more take-home pay.” —Americans for Tax Reform