Arlington, Va. – Americans for Prosperity sent a letter to Senate lawmakers today expressing opposition to the Rubio-Lee Amendment, which would increase the corporate tax rate beyond 20 percent. The group described the amendment as one that would undermine the full economic benefits that families would otherwise see under a pro-growth, competitive corporate tax rate of 20 percent and called on Majority Leader Mitch McConnell (R-KY) and all senators to oppose the measure.
Americans for Prosperity President Tim Phillips issued the following statement regarding the amendment:
“The Rubio-Lee Amendment breaks the promise of the unified framework at the 11th hour by raising the corporate tax rate to an unacceptable level. Worse, it does so in exchange for a tax credit that doesn’t directly achieve the economic growth that families need. American families would reap greater economic benefits from a level playing field, cutting of special-interest handouts, and low, flat rates for individuals and businesses alike. President Trump, the House and two Senate committees have certified that lowering the corporate tax rate to 20 percent is crucial to achieve the goals of creating jobs, spurring growth and expanding opportunities for all Americans. We continue to strongly support the Tax Cuts and Jobs Act and urge lawmakers to oppose any attempt to deviate from that plan with amendments that would increase the corporate tax rate above 20 percent.”
Americans for Prosperity and Freedom Partners have long-supported the unified framework agreed to earlier this year and continue to urge Congress and the administration to unite Americans around a positive vision for comprehensive tax reform and advance the following five key principles for a simpler, fairer and flatter tax code:
– SIMPLICITY: Lower rates, fewer brackets, and the elimination of special loopholes, deductions and exemptions will make tax compliance easier and more affordable.
– EFFICIENCY: A broad-based, low-rate tax system is the most efficient way for the government to collect revenue – causing as little disruption to the economy as possible.
– EQUITABILITY: Corporate welfare and special-interest handouts in the current tax code create an unfair, two-tiered tax system and should be eliminated.
– PREDICTABILITY: Tax certainty is essential to a pro-growth tax system.
– NO BURDEN ON TAXPAYERS: Comprehensive tax reform should be done without placing new burdens on the American people, whether in the form of a BAT, VAT, carbon tax, or otherwise.
For further information or an interview, reach Levi Russell at LRussell@afphq.org or (703) 853-4090.
Americans for Prosperity (AFP) exists to recruit, educate, and mobilize citizens in support of the policies and goals of a free society at the local, state, and federal level, helping every American live their dream – especially the least fortunate. AFP has more than 3.2 million activists across the nation, a local infrastructure that includes 36 state chapters, and has received financial support from more than 100,000 Americans in all 50 states. For more information, visit www.AmericansForProsperity.org