The
Coalition for Fair Effective Tax Rates and the
Reforming America’s Taxes Equitably (RATE) Coalition held a
joint press conference Sept. 19 to support comprehensive tax reform that would lower both individual and corporate rates and eliminate distorting tax preferences.
The RATE Coalition, which represents large corporations, and the Coalition for Fair Effective Tax Rates, representing mostly small businesses and large retailers,
expressed support for the efforts of Sen. Max Baucus (D-Mon.) and Rep. Dave Camp (R-Mich.) to cut both corporate and individual tax rates.
“Reform that promotes fairness over special tax breaks is good for the economy and the American people,” said RATE’s Co-Chair and former White House adviser, Elaine Kamarck. “A simpler, fairer code, with lower rates in line with our international competitors will boost economic growth and, importantly, job creation here in the U.S.”
Congressional tax-writing committee chairmen Camp and Baucus praised the event in a
joint statement, saying they “applaud and appreciate the efforts of these coalitions, and encourage them, and those working alongside them, to keep up the fight.”
With the construction industry
paying the highest effective tax rate in the country, ABC
joined the Coalition for Fair Effective Tax Rates as a founding member and believes using effective tax rates is the clearest way to judge the impact of tax reform on businesses.