WASHINGTON, D.C.— U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement regarding the tax reform outline released today by the Trump administration:
“As an advocate for pro-growth tax reform, the U.S. Chamber welcomes the White House’s strong push today to advance tax reform. We’ve got a once-in-a-generation chance to do tax reform, and if we do it right, it can be the single most important step our leaders take to drive economic growth.
“To get this done, it will take leadership from the White House, hard work and compromise in the House and the Senate, and engagement from the private sector. We are encouraged to see the White House push forward new policies that can help drive job creation, investment, and economic growth. It is critical to accelerate the economy after a decade of sluggish growth. We hope this action today from President Trump and his team will advance the national conversation so we can get on with reforming our outdated tax code.”
Donohue recently outlined the U.S. Chamber’s principles for pro-growth tax reform, which can be found online here. The Chamber is calling for reform that, in part, lowers rates for all businesses, shifts to an internationally competitive system, includes proper cost recovery provisions, provides certainty, and contains proper transition rules.