U.S. Chamber of Commerce President and CEO Thomas Donohue recently applauded passage of a federal budget resolution for fiscal year 2018 by the House and Senate that could open the door to tax reform.
“We applaud the House and the Senate for passing the legislative vehicle that clears the way for historic tax reform that will simplify the code, lower rates for all businesses and improve the economy,” Donohue said in a release. “Our current tax code is complex and antiquated, holding back innovation, discouraging investment, and breeding uncertainty."
Donohue noted that elected officials are now free to advance legislation aimed at “meaningful reform.”
“We’ve always said true reform is going to require compromise and give and take,” Donohue said in the release. “As the hard work continues, I urge the business community and members of Congress to refrain from taking shots at individual provisions and remain committed to advancing a tax reform package that will be a major improvement over the unacceptable status quo.”
Adding that failure to reform the obsolete tax code could hinder progress, he reiterated that improvement is vital to the economy. “The American people expect and deserve better, so let’s get on with it and get it done,” Donohue said in the release.
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