Tax

The Tax Cuts and Jobs Act reduced the corporate tax rate from 35% to 21%, putting the U.S. on par with other developed countries. As a result, retailers were able to make significant investments in their business, workforce, and in communities across the US, while remaining globally competitive.
 
There are proposals to raise the corporate tax rate to 28% as a means to fund other priorities. RILA will engage directly with the Administration, Congress and with aligned business organizations to advocate for the retention of the 21% corporate rate so retailers can continue investing in the communities in which they serve.  

If Congress considers corporate tax changes, RILA strongly encourages policy makers to examine the effective tax rates of all companies and ensure any disparities are removed. For too long, some of the largest corporations in America have exploited the tax code to pay minimal or no taxes at the corporate level. Over the years, RILA members have consistently paid the highest effective corporate tax rate, and Congress must ensure that all companies pay at least a minimum tax before it considers increasing the corporate tax rate for all businesses.  
 
Tags
  • Building Communities
  • Retail Works for All of Us
  • Tax

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