Sep 27, 2017

A Giant Step Toward Unrigging the Economy, More Jobs & Higher Wages for All Americans

Post by Freedom Partners

Arlington, VA — Members of Congress and the administration, known as the “Big Six,” released today more details of their framework for historic tax reform that will unrig the economy and make America competitive again for jobs and investment.

According to reports, the proposal would reduce the corporate tax rate from an uncompetitive 35 percent to 20 percent, eliminate hundreds of billions of dollars in special-interest deductions, carve outs and loopholes, and simplify the tax code by cutting the number of brackets from seven to three and lowering rates for individuals and families.

U.S. businesses currently pay one of the highest tax rates in the industrialized world. History proves that cutting tax rates and reforming the code is a win for everyone – more jobs, higher wages, bigger paychecks and greater financial security for Americans to save and plan for the future.

Freedom Partners Vice President of Policy Nathan Nascimento issued the following statement:

“This framework is a giant step for a stronger economy, and more jobs and higher wages for the American people. Making it a reality would let taxpayers keep more of their hard-earned money, increase America’s global competitiveness, and send a message that there will be no better place in the world to invest and create jobs than the United States.

“We look forward to continue working with Congress and the administration to rally support for tax reform and unite all Americans behind the kind of positive vision announced today. Americans have been promised a simple, fairer tax code that unrigs the economy and puts taxpayers ahead of special interests. It’s time to deliver on that promise.”