Reforming U.S. Corporate Taxes for a Globally Competitive Age
WASHINGTON (March 24, 2014) - Over the past two decades other nations have steadily lowered their corporate tax rates to the point where the United States now has the highest statutory rate in the world. In addition, we also have very high effective rates relative to our competitors, and, unlike most nations, we tax companies on world-wide income. To top it off, America ranks 27th in the generosity of our research and development tax credit. This environment puts American companies at a global competitive disadvantage and disincentives business investment in the U.S., hampering economic and job growth in the process.
To better explain the impact of corporate taxes on investment and competitiveness and present a comprehensive plan for reform, the Information Technology and Innovat