Here’s a tax reform idea: Have all businesses pay close to the same percentage of their income in taxes, regardless of whether they’re a huge multinational corporation or a corner gas station.
That’s the principle the Coalition for Fair Effective Tax Rates wants Congress to follow as it overhauls the U.S tax code. So far, 57 national organizations representing 500,000 businesses have joined this coalition.
Fairness when it comes to effective tax rates — the percentage of income that businesses end up paying to the government, after taking various tax breaks — should be…> Read more
RATE Coalition Co-Chairs Elaine Kamarck, former White House adviser to President Bill Clinton and Vice President Al Gore, and James P. Pinkerton, former White House domestic policy adviser to Presidents Ronald Reagan and George H.W. Bush, made the following statement on today’s formation of the Coalition for Fair Effective Tax Rates (CFETR).
“The RATE Coalition supports progress towards the comprehensive reform of America’s tax code. Outdated and inefficient, the current code is an impediment to economic growth and restricts job creation at a time when the economy is only slowly beginning to move in the right direction….> Read more
The National Restaurant Association has joined the Coalition for Fair Effective Tax Rates, a new group that advocates for tax reform through fair, effective tax rates that businesses pay.
“In order to spur job creation and economic growth throughout the economy and the restaurant industry, there needs to be a focus on an equal treatment of businesses under the tax code,” said Scott DeFife, the NRA’s executive vice president of policy and government affairs. “By eliminating unwarranted tax preferences, lawmakers would have the opportunity to lower both corporate and individual tax rates and promote more…> Read more
A new coalition wants Congress to lower effective tax rates for both small and large businesses — a strategy that aims to combine the political clout of two groups that can at times be at odds .
The group, called the Coalition for Fair Effective Tax Rates, is led by Dan Danner, the president of the National Federation of Independent Business, which represents thousands of small businesses, and Bill Hughes, senior vice president of the Retail Industry Leaders Association, whose members include companies like Target Corp. TGT +0.33% and Home Depot Inc….> Read more