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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70% of small business owners are optimistic about the economy.
Current Guidance is Counter to Clear Statutory Language and Congressional Intent of Tax Reform
On October 9, the U.S. Chamber and S Corporation Association submitted the following coalition letter regarding tax overpayments and §965(h) to Commissioner Rettig, Secretary Mnuchin, and Assistant Secretary Kautter.
On October 3, the U.S. Chamber submitted the following comments to the Treasury Department and the IRS on REG-104226-18, proposed rules relating to §965 transition tax as published in the Federal Register on August 9, 2018.
On October 2, the U.S. Chamber submitted the following letter to the Treasury Department and the IRS on REG-104397-18, proposed rules relating to §168(k) additional first-year depreciation deduction as published in the Federal Register on August 8, 2018.
On September 28, the U.S. Chamber submitted the following comments to the Treasury Department and the IRS on REG-107892-18, proposed rules relating to the qualified trade or business income deduction under Sec. 199A as published in the Federal Register on August 8, 2018.
This letter was sent to the U.S. Congress supporting H.R. 6760, which would make the individual tax cuts and pass-through rates in the Tax Cuts and Jobs Act permanent. September 25, 2018 TO THE MEMBERS OF THE UNITED STATES HOUSE OF REPRESENTATIVES:
The economy is strong, and businesses are investing in their workers and communities.
Jobs grew by 201,000 jobs in August, and the unemployment rate remained at 3.9%.
On August 28, the U.S. Chamber submitted the following comments to the Treasury Department and the IRS detailing concerns regarding foreign tax credit transition rules.
