ALEC Applauds Federal Tax Reform Framework
As a nation, we have fallen behind in competitiveness – just by standing still. As the rest of the world has reduced taxes on employers, our job creators pay some of the highest taxes in the developed world.
We have a real chance to turn this around in 2017. The tax reform framework that was released is a giant leap in the direction of tax policy that will benefit all Americans and erase America’s competitive deficit.
“Just as President Ronald Reagan lifted the United States economy from the economic doldrums, President Donald Trump’s framework for fundamental tax reform will unrig the tax code and bring economic growth that America’s taxpayers so desperately need. ALEC members applaud these tax reform discussions and are proud of congressional leaders and President Trump for taking this important first step towards tax reform,” Lisa B. Nelson, ALEC CEO said.
“We need to lower tax rates on job creators and the tax reform outlined by President Trump and congressional leaders is going to do that for businesses and hardworking taxpayers across the board. That’s why we are very excited at the possibility of tax reform for the first time in more than 30 years. In fact, Top Gun was number one at the box office the last time we passed fundamental federal tax reform,” added Jonathan Williams, ALEC Chief Economist and Vice President of the Center for State Fiscal Reform.
“The tax proposals unveiled by Congress and the White House this week will accelerate economic growth by incentivizing entrepreneurship and investment. Reducing the highest business tax rate in the industrialized world and eliminating some of the favoritism riddling the tax code will benefit all income levels as opportunities multiply,” Joel Griffith, Director of the Center for State Fiscal Reform Director explained.
In the past four years alone, 30 states have substantially reduced their taxes. Policymakers in Washington can learn some valuable lessons from the highly successful tax reform case studies like North Carolina, Florida, Texas and Indiana.
“In Indiana, our efforts to provide substantial tax reform for Hoosier taxpayers over the past several years provides a clear case study for Washington,” said ALEC National Chair, Senator Jim Buck of Indiana.
ALEC has the unique perspective of working with state legislators and looks forward to Congress passing meaningful tax reform.