For Immediate Release
July 10, 2015 – Washington, D.C. – Claire Buchan Parker, spokeswoman for the LIFT (Let’s Invest for Tomorrow) America Coalition, today issued the following statement regarding the Senate Finance Committee’s recent Bipartisan International Tax Working Group Report:
“The LIFT America Coalition commends the Finance Committee’s dedication to the important issue of international tax reform. The Committee’s report makes clear that an important part of the debate is over – our outdated international tax system is broken and, as a result, is hurting jobs, investment, and innovation here at home. Republicans and Democrats agree it’s long past time for reform.
“As lawmakers review the options presented by the Working Group, we urge them to consider two sobering realities: American companies face the highest statutory tax rate in the world and the United States is the only G-8 country that levies a double taxation on globally-engaged, domestic companies that want to invest overseas earnings at home. Until we update and reform these policies, U.S. workers and businesses will be at a clear disadvantage in the 21st Century economy.
“The LIFT America Coalition continues to be a strong voice in support of tax reform that modernizes the U.S. international tax system to the benefit of all Americans. We appreciate the Working Group’s time and attention paid to this critical topic, and now encourage all of Congress to work together and deliver the modern tax code that American workers and businesses deserve.”
Let’s Invest for Tomorrow (LIFT) America is a coalition of U.S.-headquartered companies, trade associations and economic stakeholders representing industries that are critical to the American economy. To ensure continued economic growth, job creation and innovation in today’s highly competitive global marketplace, the coalition supports tax reform that modernizes the U.S. international tax system to the benefit of all Americans.
For more information, visit: www.LiftAmericaCoalition.org.