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Taxes

Our tax code is a drag on growth, wages, and global competitiveness. U.S. businesses will increasingly struggle to compete around the world and remain strong at home if we don’t modernize our antiquated and complex tax code. The Chamber is fighting for a smarter, streamlined tax system allowing taxpayers to make smarter decisions about how they work, save, and invest, and unleashing the power of American businesses—large and small—to create jobs. 

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.@Economics21: America Strives to Exceed French Capital Gains Tax Rates http://t.co/Oe8X8huDd1

03/27/2015

.@AP: House panel votes to repeal federal estate tax http://t.co/Q5feAscqC3

03/27/2015

.@TheHill: @HarryCAlford: Estate tax harms minority- and women-owned businesses http://t.co/yvJm6rVArP

03/27/2015

Our Position

The Chamber is committed to comprehensive reforms to the American tax system that will attract international investment, encourage innovation, foster economic growth and job creation, and increase American global competitiveness. To that end the Chamber is advancing a pro-growth tax agenda to lower tax rates for businesses and individuals alike, establish a more economically rational tax base, and simplify compliance and administration.

Our priorities include:

  • Lower Rates: Lowering the U.S. business tax rate—the highest in the advanced world—would reduce or even eliminate the competitive disadvantage American businesses face in the global economy, encourage investment from both domestic and foreign sources, and  drive job creation in the United States.
     
  • Allow capital Investment: Tax reform should eliminate the bias in the current U.S. tax system against capital investment.
     
  • Shift to Territorial System: We should replace our system of worldwide taxation with a territorial system so that businesses aren’t double-taxed on income earned overseas. This would help American companies compete globally while promoting economic growth at home.
     
  • Ensure Industry Neutrality: Tax reform legislation should ensure all industries are treated equally under the tax law, eschewing special tax benefits or penalties targeted to one industry versus another.  The reformed tax code should allow the marketplace, not the tax system, to allocate capital and resources.
     
  • Set Clear Rules of the Road: Tax rules should be simple, predictable, and easy-to-understand to improve compliance and reduce the cost of administration.
     
  • Provide a Smooth Transition: Comprehensive tax reform should include simple, realistic transition rules to provide adequate time for implementation and help minimize hardships businesses may encounter in transitioning to the new tax system.
     
  • Promote Certainty: Comprehensive tax reform changes should be made permanent to ensure certainty for businesses striving to expand, create jobs, and remain competitive in the United States and abroad.

 

To learn more, visit FairReform.com.

Take Action

  • Visit FairReform.com for more information about comprehensive tax reform.

Timeline

The latest updates across all U.S. Chamber properties

E.g., 03/29/2015
E.g., 03/29/2015
Letter

This letter was sent to Rep. Guinta thanking him for introducing H.R. 879, the “Ax the Tax on Middle Class Americans’ Health Plans Act,” which would repeal the 40 percent excise tax imposed on high-value, employer-sponsored health insurance benefits.

3 weeks 4 days ago
Blog
Author: 

When President Barack Obama released his $4 trillion budget plan this month, he called for an end to what he described as “mindless austerity” in federal spending.

1 month 3 days ago
Blog
Luci Miller, owner of Miller Blueprint in Austin, TX
Author: 

The America’s Small Business Tax Relief Act of 2015 that passed the House of Representatives today would raise the level of property that can be expensed annually from $25,000 to $500,000.

1 month 2 weeks ago
Letter

This Key Vote Alert! letter was sent to all members of the House in support of H.R. 636, the “America’s Small Business Tax Relief Act of 2015.”

1 month 2 weeks ago
Press Release

WASHINGTON, D.C.—U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement in advance of President Obama’s State of the Union Address:

“President Obama’s plan to dramatically increase taxes, spending, and regulation is the wrong prescription for the economy. It will slow economic growth and job creation, stifle innovation, and worsen our nation’s debt and entitlement crises.

2 months 1 week ago