Dec 04, 2017
Freedom Partners, AFP & Network Allies Urge Tax Reform Conferees to Deliver on the Unified Framework’s Promise
Post by Freedom Partners
Arlington, VA — Freedom Partners Chamber of Commerce, along with Americans for Prosperity, Generation Opportunity and The LIBRE Initiative, is urging Congress to keep the promise of a simpler and fairer tax code made to taxpayers under the unified framework when considering which provisions from each bill to include in the final tax reform package.
“On behalf of our millions of activists and members throughout the country, we write to congratulate you and applaud all of the hard work that has been done to bring us to this critical moment in the fight for pro-growth, comprehensive tax reform,” the groups write in a letter to House and Senate conferees. “As you negotiate the conference report, we encourage you to remain focused on the core principles that guided the tax reform debate this year: simplicity, efficiency, fairness, predictability, and no new burdens for American taxpayers.”
Freedom Partners Chamber of Commerce, AFP, Generation Opportunity and The LIBRE Initiative urge conferees to adhere to the following framework when considering which provisions from each bill to include in the final package:
- Facilitate a pro-growth, competitive tax environment: Priority reforms include a new, highly competitive corporate tax 20 percent or lower, a territorial system of international taxation, tax relief for pass through businesses, and rate reductions across the board on the individual side, the repeal of the Alternative Minimum Tax, and the repeal of Obamacare’s individual mandate.
- Oppose any proposed new tax burdens used as revenue raisers: The House and Senate both included in their final bills some provisions that would place new burdens on taxpayers that undermine the larger goal of providing relief. We urge you to reject provisions such as the proposed 20 percent excise tax on foreign related purchases, the “bubble tax” on high earners, the excise tax on select college endowments, and continue to oppose any automatic trigger that would increase taxes in the future.
- Reduce corporate welfare that riddles the current code: Ordinary Americans should not be worse off under the tax code than those who are powerful, well-connected, and able to lobby Congress for special favors. Each chamber has taken steps to reduce the number of carve-outs, loopholes and deductions in the code. While there is much more that can be done, we are encouraged by the progress made so far. We urge this conference committee to be bold and adopt the corporate welfare reform provisions of both bills.
Freedom Partners Executive Vice President Nathan Nascimento issued the following statement:
“Now is the opportunity to deliver a tax reform package to the President’s desk that is in line with the unified framework by keeping the best of both bills. We urge Congress to follow-through on their promise of a competitive 20-percent corporate rate, reject harmful new taxes on consumers, and take the first critical steps toward unrigging the economy by eliminating corporate welfare.”
Freedom Partners and Americans for Prosperity recently called on the Senate Finance Committee to resist efforts to attach corporate welfare measures to the Tax Cuts and Jobs Act that would redistribute hundreds of billions of dollars from hardworking taxpayers to select corporations and industries that can afford to lobby for special treatment.
The two organizations have long supported the unified framework agreed to earlier this year and continue to urge Congress and the administration to unite Americans around a positive vision for comprehensive tax reform and advance the following five key principles for a simpler, fairer and flatter tax code:
- SIMPLICITY: Lower rates, fewer brackets, and the elimination of special loopholes, deductions and exemptions will make tax compliance easier and more affordable.
- EFFICIENCY: A broad-based, low-rate tax system is the most efficient way for the government to collect revenue – causing as little disruption to the economy as possible.
- EQUITABILITY: Corporate welfare and special-interest handouts in the current tax code create an unfair, two-tiered tax system and should be eliminated.
- PREDICTABILITY: Tax certainty is essential to a pro-growth tax system.
- NO BURDEN ON TAXPAYERS: Comprehensive tax reform should be done without placing new burdens on the American people, whether in the form of a BAT, VAT, carbon tax, or otherwise.