America has the most innovative, dynamic, and resilient economy in history—our tax system should strengthen our economy, not undermine it. The U.S. Chamber promotes a tax system that allows taxpayers and business owners to make smart decisions about how they work, save, and invest. Low tax rates and a stable tax code allow businesses to grow the economy, create jobs for Americans, and invest for the future while supporting communities and society at large through tax revenues.
With tax filing season starting today, it is imperative that Congress act now to avoid further negative impacts to American businesses.
Congress urgently needs to enact legislation addressing three key business tax provisions
- A Business Guide to the U.S. EconomyWhat business owners need to know about the current state of the U.S. economy, including how the pandemic, labor shortage, and other trends are impacting performance.
- Finance and Financial Regulation Basics for BusinessesThe basics of financing and financial regulations for businesses, including sources of financing, government regulators, and the role of financial institutions.
- Small Business Would Be Hit Hard by Corporate Tax IncreaseThere are 1.4 million small businesses, employing about 13 million Americans, that would end up paying the higher rate.
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The U.S. Chamber works with our partners in government and fights for tax policies that will help American businesses succeed at home, compete abroad, and attract global businesses to our shores.
Small business advice from CO—
- Small BusinessReady. Set. Scale.: Smart Tax Tips for Stress-Free FilingThursday, February 2212:00 PM EST - 12:30 PM EST
- Diversity, Equity, and Inclusion14th Annual International Women’s Day ForumWednesday, February 2808:00 AM EST - 05:30 PM EST
- Security and Resilience13th Annual Building Resilience ConferenceWednesday, May 15 - Friday, May 1708:00 AM EDT - 03:00 PM EDT
The U.S. Chamber joined four other business organizations—representing both issuers and financial statement users—in urging the Financial Accounting Standards Board to reconsider its decision to finalize the proposed Accounting Standards Update, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures."
This Hill letter was sent to the Members of the Senate Committee on Finance and House Committee on Ways and Means regarding the imperative to harmonize implementation of the CHIPS for America Fund and section 48D advanced manufacturing investment tax credit.
The U.S. Chamber joined the Canadian Chamber of Commerce and several other North American business organizations in calling on Canada to withdraw its unilateral and discriminatory digital services tax proposal.
The U.S. Chamber submitted comments to Treasury and the IRS on proposed regulations that would implement a new tax information reporting regime for brokers on certain digital asset sales and exchanges.
The U.S. Chamber joined more than 1,300 trade associations, state and local chambers of commerce, and businesses from across the industry spectrum in calling on Congress to restore a trio of essential, pro-growth business tax policies—immediate R&D expensing, the EBITDA-based interest deductibility standard, and 100% bonus deprecation (full expensing).
The U.S. Chamber submitted comments on proposed Treasury regulations that would implement increased credit and deduction amounts available for taxpayers satisfying prevailing wage and registered apprenticeship (PWA) requirements established by the Inflation Reduction Act of 2022.
In response to Notice 2023-64, the U.S. Chamber submitted additional comments and guidance recommendations to Treasury and the IRS concerning the application of the new corporate alternative minimum tax.
This Hill letter was sent to the Members of the Senate Committee on Finance, supporting the “United States–Taiwan Expedited Double-Tax Relief Act."
This letter was sent to leadership of the Senate Committee on Finance and the House Committee on Ways and Means supporting expansion of existing child care tax credits.