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Speaker Paul Ryan Taking the Lead on Corporate Tax Reform

by Jenn Fedor / /

As the voice of America’s taxpayers we were encouraged by Speaker Paul Ryan’s (R-WI) desire to see corporate tax reform achieved in the coming year. The fact that Ryan, as the leader of the House, would in a national TV interview put tax reform on such an ambitious timetable is a hopeful sign.

NTU has always been an advocate of a comprehensive approach to overhauling the tax system, one that benefits individuals as well as businesses of all sizes. But it will take hard work in Washington, along with a recognition that politics will have to be set aside to get the job done. Earlier this year, for, example, NTU’s Executive Vice President Brandon Arnold provided testimony to the Senate Finance Committee and stated, “Public officials should recognize that when they begin punishing some firms while rewarding others through tax policies, principles such as rule of law and a level playing field for all Americans become trivialized. In turn, the entire tax system itself is jeopardized.”

The bottom line: demonizing job creators such as those in the energy industry (a favorite target for Democrats) is the wrong direction for tax reform. From the millions of employment opportunities to contributions to the Gross Domestic Product (GDP) to capital investment, the energy industry is an integral part of our nation’s economy. Predatory policies, in the name of politics, would amount to a self-inflicted wound. As we have seen in the presidential debates, not to mention the floor of Congress, the economy continues to be a driving force of discussion. Businesses are struggling to keep up with the thousands of pages they have to muddle through to file their taxes, while they are the very people trying to keep the economy afloat.

In the search for concrete answers to the legitimate questions on the minds of these Americans, NTU Foundation has launched a new website, Candidatecost.org. This online portal is serving as a resource to help taxpayers make informed decisions on both the costs and savings offered in the budget plans of White House hopefuls.

NTU applauds Speaker Ryan’s dedication to tax reform and we look forward to a concerted, constructive effort for a pro-growth plan that is uniform, simplified and most importantly, treats everyone and every business fairly.