America Needs Tax Reform - But Also More Incentives to Invest
WASHINGTON (Feb. 26, 2014) - In response to the release of a draft of comprehensive tax reform legislation by Congressman Dave Camp, Chair of the House Ways and Mean Committee, Robert Atkinson, President of the Information Technology and Innovation Foundation (ITIF), issues the following statement.
"ITIF commends Chairman Camp for his leadership on tax reform and his efforts to lower the corporate tax rate, but the effort should not be revenue neutral or come at the expense of pro-growth tax incentives and needs to be paid for with higher tax rates for individuals.
When looking at the impact of taxes on competitiveness and economic growth it is most important to lower not just the statutory corporate tax rate, but the effective rate as well; the one that companies actually face when deciding whether to invest in the United States or in other nations. This cannot be done if tax reform is