Letter to Chairman Brady in support of Comprehensive Tax Reform | U.S. Chamber of Commerce

Letter to Chairman Brady in support of Comprehensive Tax Reform

Thursday, May 18, 2017 - 10:30am

May 18, 2017

The Honorable Kevin Brady
Chairman
Committee on Ways and Means
U.S. House of Representatives
Washington, D.C. 20515

Dear Chairman Brady:

The U.S. Chamber of Commerce, the world’s largest business organization representing the
interests of more than 3 million businesses of all sizes, sectors, and regions, strongly supports your
efforts to enact comprehensive tax reform. The Chamber pledges to do all we can to ensure that
America has the most pro-growth, competitive tax system possible.

American businesses and workers have struggled for far too long with a tax code that is
outdated and hinders prosperity. Our antiquated tax system puts businesses small and large at a
disadvantage in today’s global economy. Under the federal tax code, business investment is
distorted and discouraged, contributing to America’s economic underperformance. Slow growth
has deprived workers and their families of new job opportunities, wage increases, and economic
security. Comprehensive tax reform represents the single greatest opportunity to remedy these
shortcomings and accelerate growth in the near term and the long run.

The essentials of comprehensive reform are well reflected in your Blueprint for reform and
in the president’s proposal, including significant rate reductions for corporations and pass-through
entities, expensing of capital purchases, an internationally competitive system for taxing foreign
earnings, and simplification. The Chamber recognizes that comprehensive reform will require
difficult choices and that some businesses and industries will voice their concerns with
determination. Above all, however, our focus will be on a singular bottom line: ensuring that the
legislation will strengthen the American economy.

Your predecessors have worked diligently to prepare for this day when the administration
and Congress would each recognize the imperative for reform and work together to craft
comprehensive tax legislation. It now falls on you and your colleagues in the House of
Representatives and in the Senate to work with President Trump and his administration to bear
down and bring this vital effort to fruition. America’s businesses stand with you and your
colleagues. To this end, success can be the only outcome.

Sincerely,

Neil L. Bradley

cc: Members of the Committee on Ways and Means