TPA Signs Coalition Letter Applauding Chairman Camp’s Efforts on Tax Reform
March 7, 2014
There are many issues that the Taxpayers Protection Alliance is involved with, but one of the key issues that captures much of the attention and work is tax reform. TPA has done extensive writing on the Corporate Tax and it was great to see that House Ways and Means Chairman Rep. Dave Camp (R-Mich.) included Corporate Tax reform in his recent tax overhaul that was released last week. This week, TPA joined a coalition letter (posted on the website of the House Ways and Means Committee) thanking Chairman Camp for his efforts on tax reform and specifically the corporate rate. There is still a great deal of work to be done to make the tax code simpler for all working Americans, but the effort put in by Chairman Camp is well deserved of gratitude as he continues to work towards major tax reform.
Read the full letter below:
The Honorable Dave Camp
House Ways & Means Committee
1102 Longworth HOB
March 6, 2014
Dear Chairman Camp:
We want to applaud you for your efforts on the Tax Reform Act of 2014 introduced last week. It is an important first step to make America’s tax code simpler by broadening the tax base and reducing tax rates. Your proposal is the most meaningful tax reform measure made in the past three decades, and we look forward to its discussion in Congress.
Lowering America’s corporate tax rate is the key to unlocking a successful economy and making the United States competitive in the global marketplace. In your proposal you remove the burden of the U.S. having the world’s highest corporate tax rate with a provision to reduce the corporate tax rate to 25%. There will be tradeoffs on various provisions to be made and those details will be sticking points for many individuals, corporations, and industries.
Nevertheless, we believe in order to move forward at this first step in a long process we need to maintain an open dialog as we aim to lower the rate and remove barriers to economic growth and job creation.
The data and facts are clear: tax reform is essential to grow the U.S. economy and enhance American competitiveness. The Joint Committee on Tax’s report released alongside your proposal shows the important job and economic expansion this proposal will have long-term.
Thank you for your continued efforts to make the U.S. tax code simpler and fairer. If successfully adopted, your proposal will create more than 2 million new private sector jobs and increase GDP by up to $3.4 trillion. This added money in economic growth will be put back in taxpayers’ pockets. This is an important and timely opportunity and we look forward to working with you on next steps.
Stephen DeMaura, President, Americans for Job Security
Jeffrey Mazzella, President, Center for Individual Freedom
Mario H. Lopez, President, Hispanic Leadership Fund
Karen Kerrigan, President & CEO, Small Business & Entrepreneurship Council
David Williams, President, Taxpayer Protection Alliance