Tax Reform Coalition Responds to President Obama’s July 30 Speech on Corporate Tax Reform

The Coalition for Fair Effective Tax Rates released the following statement in response to President Obama’s speech in Tennessee regarding corporate tax reform on Tuesday, July 30:

“The federal tax code is broken and fixing it requires a complete overhaul of both the corporate and individual side of the code. President Obama’s proposal today focuses on corporate reform and essentially ignores the individual tax system on which families and most businesses pay taxes. Moreover, the President’s proposal further perpetuates the problem in the current code; it continues to favor some industries over others.

Comprehensive tax reform that reduces both corporate and individual rates and broadens the tax base will spur job creation and economic growth. The economic aims of the American people would be better served if President Obama expanded his vision to include reforms of both the corporate and individual tax rate systems.”

The Coalition for Fair Effective Tax Rates is a diverse group representing more than 1,000,000 businesses, both large and small, whose mission is to educate Congress and key stakeholders that tax reform should be viewed through the lens of effective tax rates, the amount of taxes businesses actually pay. The Coalition intends to use the metric of effective tax rates to bolster the case for comprehensive tax reform that broadens the tax base while lowering tax rates for corporations and pass through businesses that pay taxes using individual tax rates.

Visit the coalition’s website: http://www.FairEffectiveTaxRates.com

Follow the coalition on Twitter, @EffectiveRate, and on Facebook.

Contact: Jeffrey Birnbaum, 202-661-6367, jbirnbaum@bgrpr.com

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