U.S. Chamber president outlines key goals for tax reform

At the recent Spring Board of Directors meeting, U.S. Chamber of Commerce President and CEO Thomas Donohue encouraged the idea of tax reform to help spur economic growth.

“The process of overhauling our tax code is as complicated and controversial as the tax code itself—which is why it hasn’t happened since 1986," Donohue said. "As the debate unfolds, we’re going to urge lawmakers to ensure that reform is designed to maximize growth."

In 1986, the chamber played a big role in new tax legislation. Donohue said this time tax reform has to be done the right way.

“We’ve got a once-in-a-generation chance to do tax reform, and if we do it right, it can be the single most important step our leaders take to drive economic growth,” he said.

Donohue outlined for the Board of Directors his key components for reform. Those include driving down business tax rates; updating the territorial system; providing transparency and clarity; and making sure the marketplace itself chooses the winners and losers after reform.

“We’re going to keep reminding everyone that pro-growth reform will benefit businesses and citizens across America,” Donohue said.