NSBA Weighs in with Senate on Tax ReformSeptember 27, 2011
NSBA recently provided a statement to the Senate Finance Committee on international issues relating to tax reform. In the formal statement, NSBA President Todd McCracken said that to promote the international competitiveness of U.S. businesses, NSBA believes that tax reform, whether fundamental or incremental, should:
- Reduce compliance costs and simply the tax system;
- Place foreign and domestic manufacturers on an even footing and remove impediments to exporting; reduce marginal tax rates;
- Provide for a neutral tax treatment of savings and investment;
- Eliminate provisions in the tax law that provide artificial incentives to undertake particular kinds of economic activity; and
- Remove tax impediments to the free flow of capital and to repatriating profits earned abroad to the U.S.
For a copy of the NSBA statement, please click here.