The U.S. Chamber is keeping a close eye on tax reform’s progress, and by our account, Congress is still on track to deliver on a pro-growth re-write of the code.
Our handy tracker—a la the Domino’s Tracker—is helping us keep track of this hot legislation.
On Thursday the U.S. House of Representatives passed the final Fiscal Year 2018 budget resolution, allowing tax writers to start tinkering with their recipe. We expect the key ingredients to include lower rates for all businesses, a shift to a territorial tax system, and faster cost recovery for business owners.
Not everybody likes pineapple on their pizza, and not everyone will be happy with each tax reform detail. But U.S. Chamber President and CEO Tom Donohue reminded lawmakers and the business community to stay the course.
We’ve always said true reform is going to require compromise and give and take. As the hard work continues, I urge the business community and members of Congress to refrain from taking shots at individual provisions, and remain committed to advancing a tax reform package that will be a major improvement over the unacceptable status quo.
Slicing and dicing a 1980s tax code in 2017 will not be easy (#TRIH), but Americans are starving for change. Congress needs to keep on prepping a tax reform package that will increase wages, encourage investment, and grow the economy.
The oven is pre-heated, let’s get the pie cookin’!
Tell Congress: The time for tax reform is now.
