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.
By a 2 to 1 margin voters support a proposal that would lower taxes on American-made exports and raise taxes on foreign imports into the United States. Learn more about our national poll below.
Sixteen CEOs from some of America's largest companies sent a letter to Congressional leadership in support of comprehensive tax reform that would end the ‘Made in America’ tax on domestic production and make the U.S. tax code competitive in the global economy.
The American Made Coalition believes that 2017 presents the best opportunity to transform our outdated tax system to one with competitive tax rates for small and large business, a modern territorial system, and the border adjustment of business taxes.
Lawrence B. Lindsey, The Weekly Standard
Writing good policy is very much like seeing a skilled internist. First, the doctor decides that you really are sick. Next, he determines exactly what's wrong. Only then does he choose an appropriate prescription. Too much of policymaking ignores these steps, opting instead to focus on what the public supposedly wants to hear, with a prescription tailored toward public relations. Fortunately, the tax plan prepared by House Republicans does not fit this mold and is exactly targeted at the economic ills that afflict our country.
Ernest S. Christian, National Review
The GOP blueprint, including its border tax adjustment, will boost free trade.
By gaining quick congressional enactment of the tax reforms in the Ryan-Brady GOP blueprint, “A Better Way for Tax Reform,” President Trump can in months accomplish historic reforms that have for decades eluded other presidents and Congresses.
Furthermore, the economic burden of the blueprint’s roughly $1 trillion import-tax adjustment will for a combination of reasons fall partly on foreign companies that export into the U.S. market. If President Trump uses that $1 trillion of import-tax revenue to finance a big cut in U.S. income-tax rates, he can, in effect, require foreigners indirectly to help pay for the reduced income taxes on Americans. A good deal for America.
Border adjustment is an unthreatening, key piece of much needed reform.
Douglas Holtz-Eakin, USA Today
Breathless fear-mongering has begun. The House “border tax” would jack up retail prices, decimate consumers, bankrupt retailers and skyrocket the price of gasoline. Nice spin, but not reality.
Reality? It’s not a border tax; that would be a tariff and a bad idea. Instead, it’s a tax technique known as “border adjustment” that keeps the tax system from tilting the playing field of domestic competition or trade.
It is widely used around the globe — from Canada to Japan to throughout Europe — and when last checked every one had vibrant retail markets, low inflation and no sense of impending doom from their tax systems.
By: Chris Versace
With the support of President Donald J. Trump, the Speaker of the House, Paul Ryan (R-Wisconsin), has declared that Congress will undertake an effort to reform the U.S. Tax Code.
The last time such a comprehensive tax reform was undertaken was during the Reagan presidency.
Generally speaking, there is broad agreement that corporate and personal taxes should be reduced, and the consensus view is that, yes, the tax code should be simplified. With most things in Washington, however, things aren’t always that simple and here too there is some disagreement, particularly over the issue of the “border adjustment tax” or BAT.
American Made Coalition