WASHINGTON, Feb. 2, 2017 /PRNewswire-USNewswire/ -- A coalition of over 25 American businesses of diverse sizes and industries, including both importers and exporters, representing nearly every sector of the American economy launched the American Made Coalition today in support of pro-growth tax reform. The coalition strongly supports modernizing the outdated U.S. Tax Code by removing barriers to economic growth and American job creation. The Coalition believes the obsolete and biased tax system subsidizing imports of foreign goods must be replaced with one that restores the United States' competitive advantage in the foreign marketplace.
"American workers and businesses are not competing today on a level playing field with foreign competitors because of an outdated and unfair tax system," said John Gentzel, coalition spokesman. "The American Made Coalition is committed to advancing legislation that modernizes our tax system, levels the playing field for American businesses and workers, encourages investment, incentivizes job creation in the U.S., and helps American-made products compete worldwide. The House tax reform blueprint has the best chance of moving real transformative tax reform for the first time in more than 30 years."
The American Made Coalition is focused primarily on supporting reform efforts, championed in the House of Representatives by Speaker Paul Ryan and Ways and Means Committee Chairman Kevin Brady, that would lower tax rates, encourage domestic investment, spur job creation, and modernize the overall tax system for a 21st Century economy.
A key aspect of the House tax reform blueprint is a border adjustment provision that would eliminate the "Made in America tax" – an unfair tax hitting goods produced domestically while favoring foreign-made goods. By ending the "Made in America tax," we can create a more favorable business environment for American manufacturing and level the playing field so American workers can compete with foreign competitors.
The Tax Foundation estimates the House Blueprint proposal will create 1.7 million new jobs, boost GDP by 9.1%, and increase wages by 7.7%.
Visit www.americanmadecoalition.org for more information about and to receive regular updates from the American Made Coalition, or go to our Twitter: @AmericanMade or our Facebook page: https://www.facebook.com/TheAmericanMadeCoalition/
The American Made Coalition believes that 2017 presents an important opportunity to modernize our tax system and a focused public campaign – one supporting competitive business tax rates, a modern territorial system, and the border adjustment of businesses taxes – is urgently required to achieve success. Together, these three components are essential to leveling the playing field for American-made goods and services and encouraging American jobs, investment, and manufacturing.
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SOURCE American Made Coalition