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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. 

Search all Taxes content

.@TaxFoundation: Understanding the European Commission’s Recent Tax Rulings https://t.co/MwBkrxOaOa

09/15/2016

.@TheHill: Changing of the guard at lobbying powerhouse as @USChamber’s Bruce Josten announces retirement https://t.co/trSUB0spxy

09/15/2016

.@WSJ: @gregmankiwblog: Why Taxing Fairly Means Not Taxing Inheritances https://t.co/cclafphyrf

09/15/2016

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.

Timeline

The latest updates across all U.S. Chamber properties

E.g., 09/27/2016
E.g., 09/27/2016
Above the Fold
"Winter is coming" Game of Thrones promo photo

Ohio employers are warning of the already devastating impact proposed debt-equity rules are having on investment and job creation.

Tuesday, September 27, 2016 - 9:00am
Letter

The below letter was sent to Treasury Secretary Jack Lew from nearly 50 Ohio-based employers expressing their concern with the Treasury Department’s proposed regulations under section 385 of the Internal Revenue Code.

 

September 27, 2016

The Honorable Jacob Lew
United States Treasury Secretary
U.S. Department of the Treasury
1500 Pennsylvania Avenue, N.W.
Washington, DC 20220

Dear Secretary Lew:

Tuesday, September 27, 2016 - 8:30am
In the News

Washington Examiner
By Joseph Lawler 

None of President Obama's seven years in office has seen economic growth above 3 percent, and his final year will probably fall short, too.

Lame growth will be Obama's clearest and most damaging legacy, as far as business is concerned.

In the News

Two U.S. Chamber of Commerce economic experts spoke at the business federation’s annual Labor Day briefing on economic and workplace issues. Randel Johnson said the chamber would likely challenge the Department of Labor’s updated overtime regulations rule, set to go into effect in December 2016, that would extend overtime pay protections. Other topics included immigration and tax policies, as well as entitlement programs.

Thursday, September 1, 2016 - 10:00am
Press Release

WASHINGTON, D.C.— U.S. Chamber of Commerce Executive Vice President and Head of International Affairs Myron Brilliant issued the following statement on the European Commission’s decision against Apple for tax arrangements with Ireland that are deemed to violate EU State Aid laws:

“This morning’s announcement by the European Commission that Apple must pay taxes and interest of more than $14.5 billion calls into question the ultimate legal authority of European national tax regimes and threatens to drive away international investment. The Chamber disagrees with the ruling.

Tuesday, August 30, 2016 - 5:15pm
Press Release

The U.S. Chamber of Commerce and the Texas Association of Business today filed a legal challenge to the IRS’s immediately effective Multiple Acquisition Rule, which attempts to prevent certain corporate mergers that are otherwise permitted under the inversion rules under Section 7874 of the Internal Revenue Code.

Thursday, August 4, 2016 - 1:15pm