Taxes

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.

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. 

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.

Recent Activity

LetterJun 28, 2017 - 12:30pm

Joint Business Community Letter to Congress: Move Quickly on Tax Reform

This joint letter, signed by the leaders of the Chamber, the Business Roundtable, the National Federation of Independent Business, and the National Association of Manufacturers, was sent to Congress urging them to press forward with the adoption of a Fiscal Year 2018 concurrent budget resolution including reconciliation instructions that would aid the swift passage of comprehensive, pro-growth tax reform.

Above the FoldJun 22, 2017 - 1:30pm
"Welcome to Kansas" road sign.

Kansas Tax Reform Lessons for Washington

Pro-growth tax reform can do more for economic growth than any other policy reform available, but only if it’s done sensibly.

ArticleMay 29, 2017 - 10:15am

The Hazy Link Between Border Tax Adjustments and Exchange Rates

The debate over border tax adjustments as part of comprehensive tax reform has been complicated by questions over exchange rate adjustments.

Above the FoldMay 26, 2017 - 10:45am
Employee Amy Merritt prepares a flower arrangement at Flowers By Julia in Princeton, Illinois.

Small Business Index Should Remind Washington to Continue Pro-growth Progress

If there's progress on taxes, infrastructure, regulatory reform, and other issues, businesses will invest and grow.

Above the FoldMay 22, 2017 - 10:45am
May 18, 2017 - Washington, DC, USA: U.S. Invest In America Summit, featuring Vice President Mike Pence, Treasury Sec. Steve Mnuchin. With Tom Donohue, and Myron Brilliant.    Photo by Joshua Roberts / © U.S. Chamber of Commerce

Just Another Week At the Chamber…

VP Pence and more.

Above the FoldMay 18, 2017 - 4:45pm
Chairman Kevin Brady's view from a House Ways and Means Committee's hearing on tax reform.

Here’s What Businesses Are Looking for in Pro-Growth Tax Reform

The House Ways and Means Committee held its first hearing this year on comprehensive tax reform.

LetterMay 18, 2017 - 10:30am

Letter to Chairman Brady in support of Comprehensive Tax Reform

This letter was sent to Chairman Brady and the members of the Committee on Ways and Means expressing the Chamber’s commitment to comprehensive tax reform.

LetterMay 16, 2017 - 2:15pm

Chamber Comments on Executive Order 13789

On May 16, the Chamber submitted these written comments to the Department of Treasury in response to Executive Order 13789 issued on April 21, 2017.

Above the FoldMay 03, 2017 - 10:30am
Stock Trade Rising

What Do Trade Deficits Really Tell Us About the Economy?

What causes trade deficits? Whether bilateral, aggregate, short-term or long, understanding their causes is essential – whether they are harmful or not, whether they are the product of bad domestic policies or unfair foreign trade practices, or whether they are just a feature of a global economy much like temperature is a feature of the climate.

Above the FoldApr 28, 2017 - 5:00pm
Steven Mnuchin, Treasury secretary (right), and Gary Cohn, director of the U.S. National Economic Council discuss tax reform.

Trump Administration Steps Up to the Plate with Tax Reform Plan

U.S. Chamber tax expert called it, "The start of the conversation."