Federal tax reform is buzzing on Capitol Hill. The shape it takes is still to be seen, but one thing is clear for Ohioans. Reform that benefits U.S. manufacturing is reform that will benefit all of Ohio’s economy.
It has been eight years since the end of a painful economic recession in the U.S, forcing the nation to make a decision turn boldly toward new opportunities or continue down the same path that has led to slow job gains and weak overall growth. The choice for America’s leaders, especially those in Congress, should be clear. The time is now for comprehensive reform that gets our economy moving.
Despite what well-funded retailer and special interest groups would have you believe, voters support the idea of a border adjustment, a key element of the House Blueprint for tax reform, according to a new poll out today. According to The Hill, the survey done by Harvard-Harris Poll found that 62 percent of Americans would support a “tax on all goods made outside the United States.” Additionally, the idea was supported by “77 percent of Republicans, 61 percent of Independents and 51 percent of Democrats."
Tax Day. The annual rite of passage where, nationwide, Americans fill out paperwork or hire an accountant, to ultimately hold their noses as they write a check payable to Uncle Sam. No other issue is as important to the everyday lives and bottom lines of families and businesses around the nation as our tax code. But interestingly enough, few other issues are as complex or politically challenging.
MOUNT PROSPECT, ILL. — The United States corporate tax rate has been stuck at 35 percent for three decades. In that time, other leading countries have slashed their corporate rates to an average of 25 percent, with many far below that figure. This tax rate discrepancy puts domestic manufacturers at a competitive disadvantage and creates incentives for them to engage in “inversions” (using openings in the law to change their tax nationalities) or to move production and jobs offshore.
Paul Ryan and Kevin Brady's tax plan will restore American prosperity.
Former President Ronald Reagan once famously proclaimed, "Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."
The American Made Coalition launched its first television ad yesterday during Meet the Press. The ad will saturate cable news channels including CNBC, FOX Business, FOX News, and MSNBC, running through April 9 in the D.C. metro area. It will also reach online audiences in targeted states.
In 1989, my mother and I started a business out of our garage. We worked hard, raised money to get our business started, and developed an office chair based on my dad's expertise in ergonomics. We still believe it's the best chair on the market.
Repealing and replacing ObamaCare and implementing President Trump’s plan to build $1 trillion-worth of infrastructure are massively important for the president’s bold vision to make America great again, but the key to President Trump's success is tax reform.
The American corporate tax system is broken. Faced with one of the highest tax rates in the world, many multinational corporations in the United States move their operations and reported profits offshore or undertake “inversions” to relinquish their American tax nationality. Elaborate regulatory and enforcement measures have been unable to stop this. Vilifying companies for their behavior hasn’t worked, either.
Fortunately, bipartisan support for corporate tax reform has been growing in Washington.