Taxes
America has the most innovative, dynamic, and resilient economy in history—our tax system should strengthen our economy, not undermine it. The U.S. Chamber promotes a tax system that allows taxpayers and business owners to make smart decisions about how they work, save, and invest. Low tax rates and a stable tax code allow businesses to grow the economy, create jobs for Americans, and invest for the future while supporting communities and society at large through tax revenues.
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Maintaining and improving pro-growth tax policy next year, when the largest automatic tax increase in history is set to occur, will ensure the U.S. is globally competitive, retaining and attracting businesses, jobs, investment, and innovation here at home.
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The U.S. Chamber works with our partners in government and fights for tax policies that will help American businesses succeed at home, compete abroad, and attract global businesses to our shores.
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Currently, EBITDA (earnings before interest, taxes, depreciation, and amortization) will be changed drastically, which will hurt capital-intensive businesses, making it more difficult for them to raise capital for investment and employ workers. If this tax increase moves forward, it will threaten small businesses, jobs and economic growth.
On June 2, the Chamber delivered this joint letter to the Senate Committee on Finance in opposition to proposed changes to the Internal Revenue Code in the Clean Energy for America Act.
On May 26, 2021, the Chamber submitted these comments to the I.R.S. and Treasury on Notice 2021-28, recommendations for items that should be included on the 2021-2022 Priority Guidance Plan, as published in the Internal Revenue Bulletin on May 3, 2021.
Raising our corporate tax rate, combined with the average state rate, would put our tax rate above the OECD average.
The Biden Administration's proposed tax increases ignore the millions of Americans who will pay the price of the proposed tax increases.
This Hill letter was sent to the Members of the House Financial Services Committee, on a markup the committee is holding on May 12.
The ideas and policies Members of Congress support are what matter, not their party designation. And we are watching.
Over one million small businesses would see their tax bills increase significantly with a corporate income tax raise.
The Chamber appreciates the Commission’s commitment to robust economic recovery efforts. We believe, however, that any measures contemplated should not run directly counter to the aim of a multilateral negotiation to which the EU has committed itself. We therefore strongly encourage the EU to focus its efforts on reaching a consensus at OECD level, to refrain from pursuing any such a measure while those negotiations are ongoing, and to avoid adopting any additional levy above and beyond what is agreed at the OECD.
