House Economic Leader says this places our companies our farmers our workers at a major disadvantage
Texas Insider Report: WASHINGTON D.C. Texas Congressman Kevin Brady a senior member of the tax writing House Ways & Means Committee and the top Republican on the Joint Economic Committee issued the following statement ahead of the United States combined federal-state corporate tax rate becoming the highest in the industrialized world on April 1 2012:
Unfortunately America is going from first to worst -- from having one of the lowest business tax rates in the world to having the highest among our global competitors -- placing our companies our farmers our workers at a major disadvantage. On April 1st American companies will be able to land fewer contracts sell fewer products and hire fewer American workers.
In the Ways and Means Committee that I serve on were working to change that. This past fall we released a business tax reform draft that would lower the rate to 25 percent. And to ensure our competitiveness we also streamline the red tape in the tax code to make it fairer and end double taxation. Thats what it is going to take to compete in a world where China where Europe where Latin American and other countries have taken a page from our playbook -- lower taxes balanced regulations and a skilled workforce. And frankly this weekend they are beating us with our playbook. It is time for America to get back in the game.
Learn more about the House Ways & Means plan
here.
