Retail tax executives from across the country are in Washington, D.C, Tuesday and Wednesday with one message: comprehensive tax reform, where all preferences are on the table, is critical to economic and job growth. More than a dozen tax executives representing Retail Industry Leaders Association (RILA) member companies are in town for RILA’s tax committee meeting and will be on the Hill to meet with lawmakers on Wednesday.
The group includes executives from American Eagle Outfitters, Costco, Dollar Tree, Limited Brands, Meijer, Target, Walmart, Walgreens and Whole Foods Market, among others.
“From our perspective, the ideal tax reform will put all corporate tax preferences on the table in order to give lawmakers as much latitude as possible to reduce the corporate rate and individual rate in a revenue-neutral fashion,” said Kirt Johnson, vice president of tax policy at RILA.
RILA member companies will caution against using any tax preferences or loopholes to offset the sequester as the elimination of these tax provisions should only be used in the effort to reduce corporate and individual tax rates.
Before bringing their message to the Hill, the conference is expected to review a broad range of tax issues, including tax reform, e-fairness legislation, federal regulatory developments, other federal tax legislation, state tax issues and relevant international tax concerns.
“We are meeting with lawmakers on behalf of the retail industry and the millions of consumers it serves to educate these Representatives on how critical comprehensive tax reform is to restoring economic growth and creating jobs in our country,” continued Johnson.
Individuals and businesses of all sizes agree that our current tax code is broken. Comprehensive tax reform, which reduces rates for individuals as well as corporations, is the best way to stimulate economic growth, ease burdens on consumers and allow businesses to create jobs.
In addition to meeting with lawmakers on Wednesday, the tax executives will hear from Congressman Erik Paulsen (R-MN) on Tuesday night.