Taxes

The Chamber continues to fight for a 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.

Projects and Programs


Our Priorities

The U.S. Chamber continues to fight for and support broad-based economic growth through effective tax, fiscal, and monetary policy. 

Priorities

 Tax Policy
  • Advocate for continued pro-growth tax policies in relevant tax legislation (e.g., tax extenders, technical corrections bills). 
  • Continue to work with the administration on regulations and other guidance to implement the Tax Cuts and Jobs Act. 
  • Continue to work with the administration, Congress, foreign governments, and governing organizations to achieve a multilateral consensus on the taxation of the digital economy. 
  • Prevent rollback of any parts of the pro-growth tax reform bill enacted in 2017. 
  • Oppose anti-growth tax policy proposals.
Economic Policy 
  • Continue to defend the importance of central bank independence for sound, pro-growth monetary policy. 
  • Continue to advocate for responsible fiscal policy, including entitlement reform, deficit reduction, and debt management.
Economic Development 
  • Advocate for effective implementation and utilization of Opportunity Zones and similar economic development programs. 

Recent Activity

CommentAug 03, 2020 - 4:30pm

U.S. Chamber Comments on REG-112339-19: Credit for carbon oxide sequestration under section 45Q

On August 3, 2020, the Chamber submitted these comments to the I.R.S. and Treasury on REG-112339-19, guidance on the credit for carbon oxide sequestration under §45Q of the Internal Revenue Code, as published in the Federal Register on June 2, 2020.

CommentJul 20, 2020 - 3:30pm

U.S. Chamber Comments on N-2020-47: Public Recommendations Invited on Items to be Included on the 2020-2021 Priority Guidance Plan

On July 20, 2020 the Chamber submitted these comments to the I.R.S. and Treasury on Notice 2020-47, recommendations for items that should be included on the 2020-2021 Priority Guidance Plan, as published in the Internal Revenue Bulletin on June 29, 2020.

CommentJul 09, 2020 - 8:45am

U.S. Chamber Comments on REG-104591-18: Denial of Deduction for Certain Fines, Penalties, and Other Amounts; Information with Respect to Certain Fines, Penalties, and Other Amounts

On July 9, 2020 the Chamber submitted these comments to the I.R.S. and Treasury on REG-104591-18 guidance on section 162(f) of the Internal Revenue Code (Code), as amended by legislation enacted in 2017, concerning the deduction of certain fines, penalties, and other amounts as well as proposed regulations that provide guidance relating to the information reporting requirements under new section 6050X of the Code with respect to those fines, penalties, and other amounts, as published in the Federal Register on May 23, 2020

CommentMay 21, 2020 - 2:00pm

U.S. Chamber Letter to I.R.S. and Treasury on Employee Retention Tax Credit FAQs Additional Modifications

On May 21, 2020 the Chamber submitted these comments to the I.R.S. and Treasury on additional modifications to the Employee Retention Tax Credit Frequently Asked Questions, last updated by the I.R.S. on May 8, 2020.

CommentMay 19, 2020 - 6:45pm

U.S. Chamber Comments on REG-106013-19: Guidance Involving Hybrid Arrangements and the Allocation of Deductions Attributable to Certain Disqualified Payments Under Section 951A

On May 19, 2020, the U.S. Chamber submitted these comments to the I.R.S and Treasury on REG-106013-19, guidance involving hybrid arrangements and the allocation of deductions attributable to certain disqualified payments under Section 951A (Global Intangible Low-Taxed Income), as published in the Federal Register on April 8, 2020.

Letters to CongressMay 18, 2020 - 9:00am

U.S. Chamber Letter on the Small Business Expense Protection Act

This Hill letter was sent to Senators Cornyn, Carper, Grassley, Wyden, and Rubio, supporting S. 3612, the "Small Business Expense Protection Act."

ArticleMay 16, 2020 - 1:45pm
The Internal Revenue Service headquarters in Washington, D.C.

Net Operating Loss (NOL) Tax Relief Provides Much Needed Liquidity Across All Industries, Not Just Oil and Gas

This is a tax provision long lauded by both sides of the aisle because of its proven stimulus impacts.

Letters to CongressMay 01, 2020 - 3:30pm

U.S. Chamber Letter Urging Treasury to Revise Employee Retention Tax Credit FAQs #64 and #65

On May 1, 2020 the Chamber delivered this letter to Secretary Mnuchin regarding comments and recommendations for revisions to the Employee Retention Tax Credit FAQs #64 and #65 released by the IRS.

Letters to CongressApr 02, 2020 - 2:00pm

U.S. Chamber Letter Urging Treasury and IRS COVID-19 Initial Implementation Tax Response

On April 2, 2020 the Chamber delivered this letter to the IRS and the Treasury regarding comments and recommendations to provide guidance to taxpayers in response to COVID-19.

Press ReleaseApr 01, 2020 - 4:15pm

U.S. Chamber Releases Two New Step-by-Step Guides for COVID Employer Tax Credit, Disaster Loans

“The U.S. Chamber of Commerce is working with state and local chambers across the country to provide businesses with the information they need to stay afloat and keep people employed during the pandemic,” said Suzanne Clark, President of the U.S. Chamber of Commerce. “These comprehensive guides ensure business owners fully understand what aid is available to them and how to access those funds as quickly as possible. We are committed to ensuring no family or business goes bankrupt due to financial hardships associated with the coronavirus.”