Republican Plan Will Vault U.S. Tax Code to the Top
— Paul Ryan (@SpeakerRyan) February 16, 2017
“America has the worst tax code in the industrialized world. It is killing economic growth. It is driving companies to become foreign companies. More and more and more U.S. companies are going to leave this country because of our tax laws.”
That was Speaker Ryan yesterday at his weekly press conference. So, just how bad is it, and just how much better can we do if we fix our tax code?
Well, the nonpartisan Tax Foundation’s International Tax Competitiveness Index ranks our tax code behind all but four Organisation for Economic Co-operation and Development (OECD) member nations. This means our tax code is putting American businesses at a steep disadvantage to our foreign competitors.
Now we have a once-in-a-generation opportunity to change this.
According to the assessment, “If the U.S. were to enact this reform, the U.S.’s ranking would improve significantly on the Index. Our tax code would move from 31st plan (out of 35 countries) to 3rd, just behind Estonia and New Zealand.”
This plan will make America’s tax code so competitive and so pro-growth that we will leapfrog from almost dead last to the front of the pack. That’s why we are so determined to finally get tax reform done. Leveling the playing field for our businesses and providing incentives to bring jobs back from overseas would revitalize the economy and help more Americans get back to work.
To learn more about our plan, visit speaker.gov and check out the links below.
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Originally posted at http://www.speaker.gov/general/republican-plan-will-vault-us-tax-code-top.
Image source: Wikimedia Commons
License: Public Domain