Friends of Manufacturing

White House: Congress is poised for tax cut votes early next week

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House and Senate negotiator have made “tremendous progress” and are on track to put the tax cut bill to a final vote early next week, White House Legislative Affairs Director Marc Short said Tuesday.

Lawmakers have nearly completed the job of hammering out the differences between the each chamber’s bills in a conference committee and likely will draft the final GOP bill over the weekend, he said on Fox Business Network.

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Trump to give 'closing argument' for tax bill on Wednesday

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President Trump will deliver a speech on tax reform Wednesday at the White House presenting his “closing argument” for tax reform, administration officials said Tuesday.

The address will take place as Senate and House negotiators gather at the Capitol for their first and only public conference committee meeting.

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Tax reform: Corporate AMT must go away, NAM CEO says

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Congress needs to deliver on 20 percent corporate tax for America

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Congress is embarked on an historic effort to modernize the taxation of corporate income, enhancing the growth and competitiveness of the U.S. economy. A central plank of that effort has been to lower the corporate tax rate to 20 percent. Indeed, 20 percent was advertised as a non-negotiable “line in the sand.” Yet, with just days left this year to reach a conference agreement on tax reform, some have suggested increasing the 20 percent corporate rate embedded in both the House and Senate bills to 22 percent. This is a bad idea that should be rejected.

Congress needs to enact a tax system that will make the United States an attractive location for investment and headquarters of companies both now and in the future. Improved incentives to innovate and invest in the United States are the foundation of much needed improvements in productivity and real wage growth. Those corporate investments are, however, by their very nature long-term activities that must incorporate tax rates into long-term planning.

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