The Coalition for Fair Effective Tax Rates, co-chaired by the Retail Industry Leaders Association (RILA) and the National Federation for Independent Business (NFIB), joined with the RATE Coalition on the Hill today to advocate for comprehensive tax reform that simplifies the system by lowering individual and corporate rates and eliminating distorting tax preferences. The two tax coalitions held a joint press conference urging support for the efforts of Senator Max Baucus (D-MT) and Rep. Dave Camp (R-MI) to pass comprehensive tax reform.
“Bottom line, the tax code is broken and businesses of all sizes know it needs to be reformed,” said Bill Hughes, senior vice president of the Retail Industry Leaders Association and co-chair of the Coalition. “We are united here with the RATE Coalition to say that comprehensive tax reform is vital for the success of American businesses. We support the tax-writing committee chairmen in their efforts to see comprehensive tax reform legislation pass.”
Together, the groups represent businesses of all kinds -- large and small, corporations and mom-and-pop shops. All agree with the tax-writing committee chairmen on Capitol Hill that the federal tax code is broken and comprehensive tax reform is needed to spur economic growth and create jobs.
Ways and Means Committee Chairman Dave Camp (R-MI) and Senate Finance Committee Chairman Max Baucus (D-MT) offered their support of the Coalitions’ efforts in the following statement today: "Today's call to action by these two coalitions underscores what job creators across the country have long said: our broken tax code ought to be simpler and fairer so that we will have a stronger economy where there is more investment, greater job creation and higher wages. That is a message we’ve heard from all job creators, no matter how big or small their business. We applaud and appreciate the efforts of these coalitions and encourage them, and those working alongside them, to keep up the fight."
The Coalition for Fair Effective Tax Rates was represented at the press conference by Co-Chairs Dan Danner, president of the National Federation of Independent Business, and Bill Hughes, senior vice president of the Retail Industry Leaders Association. The RATE Coalition was represented by 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. See the open letter the four co-chairs of the Coalitions sent highlighting the urgent need for tax reform in today’s issue of Politico.
“The current tax system chooses winners and losers,” continued Hughes. “This is unfair. Instead of benefiting certain business activities over others, the tax code should help businesses grow.”
Late last year, RILA commissioned a PricewaterhouseCoopers study which highlights the glaring disparities in the effective tax rates industries pay and demonstrates the urgent need for tax reform. Read more about the study HERE.
The Coalition for Fair Effective Tax Rates is a diverse group of national, regional and state associations representing more than 1,500,000 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