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Editorials and Op-eds
October 22, 2013 - POLITICO, "Comprehensive Tax Reform Now," James P. Pinkerton and Elaine Kamarck, Co-Chairs, Reforming America’s Taxes Equitably
After passing the 1986 Tax Reform Act, the United States led the world not only in economic growth but also in international competitiveness. Since then, countries like Britain, Canada and Japan have reformed their own tax systems and continued to lower their corporate tax rates. The U.S. corporate tax rate of 35 percent is now the highest in the world, driving investment overseas. The result is American businesses moving abroad and taking headquarters and jobs with them. ... It’s time to harness that spirit once more. Just as Reagan and Speaker of the House Tip O’Neill worked together on comprehensive tax reform in 1986, today’s leaders should do the same. We should not be looking wistfully back to the good old days when we were able to do big things. It can happen now: Leaders from both parties and both ends of Pennsylvania Avenue are calling for comprehensive tax reform that lowers the corporate rate to an internationally competitive level, broadening the base and growing the economy.
September 30, 2013 - Red Alert Politics (Op-ed), "Removing Hurdles to Economic Growth," Claire Buchan Parker, Spokeswoman, LIFT America Coalition
American workers are the most creative and productive in the world, but we’re running the global race with ankle weights. In 2000, 17 OECD countries had yet to reform their international tax systems; today the U.S. is one of just 7 countries without some form of a modern, hybrid international tax system. Furthermore, we are the lone G-8 economy that hasn’t yet pursued international reform in order to encourage more investment. ... Consequently, our economic competitiveness is threatened each day we stand still on reform – allowing more than $2 trillion (and counting) to remain trapped outside the United States. That is investment that could be used for increased research and development, plant expansions, better worker benefits and the creation of more American jobs.
August 1, 2013 - POLITICO (Op-ed), "Tax Reform Would Fuel U.S. Economy," Douglas Holtz-Eakin, Former Director, Congressional Budget Office, and Economic Adviser, Alliance for Competitive Taxation
The U.S. tax system isn’t working for American businesses, workers or the economy as a whole. All of the G-8 member nations except the United States, and 28 of the other 33 countries in the Organization for Economic Cooperation and Development, have moved to an international tax system with modern territorial features — meaning income is taxed only where it is earned. ... Success, then, is a choice. The evidence is in: The status quo isn’t working. To better compete, it is time to learn from what is working for other countries. There is no single blueprint for the territorial system to adopt; each country has adapted its tax code to find what works best for it. The United States should follow suit. What are we waiting for?
July 25, 2013 - Roll Call (Op-ed), "Blank Slate Tax Reform: Make Competitiveness the Top Priority," Claire Buchan Parker, Spokeswoman, LIFT America Coalition
The policy prescription to this challenge is enacting a modern, hybrid international tax system that would encourage investment in the U.S. while protecting our tax base and preventing abuses. This would unlock nearly $2 trillion in private capital for critical investments like enhanced research and development, plant expansions, business acquisitions and better worker benefits.
July 24, 2013 - Wall Street Journal (Editorial), "A Global Revenue Grab"
The U.S. could also do everyone a favor by adopting the territorial approach to taxation that the rest of the world has already settled on. This means letting companies pay taxes where the profits are earned. All those billions locked up overseas because companies are loath to repatriate profits and pay 35% could return to the U.S., if that's where the opportunities are.
July 8, 2013 - POLITICO, "Chairmen Max Baucus, Dave Camp Hit the Road to Sell Tax Reform"
It’s a favorite strategy for presidents who see their policy priorities struggle on Capitol Hill: Take the conversation outside the Beltway to rally the public’s support. Lawmakers often dismiss such tactics as theatrics, but on Monday two of the most powerful members of Congress ripped a page from that playbook to promote tax reform.
June 13, 2013 - MarketWatch, "Boeing CEO Says Out-of-Date Tax Code Hurts U.S. Economy"
One of the nation’s most prominent CEOs says U.S. corporate tax rates needed to be lower not because American companies are overtaxed but mainly because foreign rivals have an advantage. Jim McNerney, chief executive of Boeing, says the U.S. tax code has fallen behind the times. Many European countries have cut tax rates in the past two decades and developing nations such as China already offer a low-tax environment.
April 2, 2013 - The Hill, "Chamber Offers Tax Reform Wish List"
The U.S. Chamber of Commerce gave lawmakers an extensive wish list for tax reform on Tuesday, calling for lower rates and less taxation of corporate offshore income. … It also wants to install a so-called territorial system, which would limit U.S. taxation of corporations’ offshore income – an idea shared by top Republicans like Ways and Means Chairman Dave Camp (R-Mich.). And the Chamber says that the code should be simplified, and should be reformed in a manner that gives businesses more certainty.
March 19, 2013 - Bloomberg BNA, "Business Roundtable Campaign Shoots for Territorial Tax System, Lower Corporate Rates"
The Business Roundtable March 18 unveiled a new national awareness campaign aimed at promoting the benefits of a territorial tax system and reducing the corporate tax rate from 35 percent to 25 percent. According to Roundtable President John Engler, many of the existing corporate tax breaks should be eliminated, and the tax code should be simplified.
March 18, 2013 - The Hill, "CEOs Set Tax Reform Goal: 25 Percent Corporate Rate"
A prominent lobby group for chief executives is launching a campaign to build public support for reducing the corporate rate to 25 percent and limiting the taxation of offshore income. John Engler, the president of Business Roundtable, and other officials at the lobby shop say the campaign’s purpose is to educate the public about America’s outdated tax system and the drag it places on U.S. businesses. ... Roundtable officials are also pressing for a revenue-neutral corporate reform, meaning the rewritten code wouldn’t bring in more or less revenue than it did before, and the adoption of a modified territorial system, which would shield offshore corporate income from taxation.