TPA Responds to President Obama's Final State of the Union Address
January 13, 2016
Statement by the Taxpayers Protection Alliance on President Obama’s State of the Union Address
In response to President Obama’s State of the Union Address last night, the Taxpayers Protection Alliance released the following statement:
“Last night, President Obama made the case that the American economy is finally turning the page on a chapter of recent history marked by anemic growth and a sluggish economic outlook. While the Taxpayers Protection Alliance (TPA) may disagree with that assertion, TPA does support the President’s call to remove the obstacles in the way of a healthy, vibrant business environment. The President and his counterparts on Capitol Hill have an opportunity this year to make real progress towards that goal by tackling comprehensive tax reform.
“In the thirty years since it was last overhauled, the U.S. tax code has become a complicated mess of loopholes, selective exemptions and sky-high rates. In fact, the U.S. has the highest corporate tax rate in the world at more than 39 percent. Meanwhile, the average tax rate worldwide has fallen seven points to under 23 percent. And, at more than 74,000 pages, the American tax code has become unnavigable for many businesses, especially small businesses, which often lack the resources of their larger competitors to stay in compliance.
“The American tax system should foster growth, not work against it. For that reason, the Taxpayers Protection Alliance urges President Obama to make comprehensive tax reform a priority during his final year in office. Serious reform must simplify the system by uniformly closing loopholes; lower both corporate and individual rates; refrain from singling out individual industries; and expand the tax base. The Obama administration has shown a propensity for picking winners and losers in America’s economy through tax policy. This problematic position has borne itself out through misusing the terms “deductions” and “subsidies” to favor some industries for political purposes while raising taxes on others. Comprehensive tax reform led by both parties this year will prevent this anti-growth agenda, and will incentivize economic expansion, generate greater revenue and get the economy back to full strength.”
For a full statement on the SOTU, click here.