In December, Washington passed the first major tax reform legislation in more than three decades, lowering rates for all businesses, making our tax system more internationally competitive, and unleashing a new era of growth for the American economy. Already, business leaders around the country are investing back into their companies, rewarding their employees, and hiring more American workers thanks to tax reform.
U.S. Chamber President and CEO Tom Donohue had the following to say about the Tax Cuts and Jobs Act:
“American businesses will become more competitive around the world. The business community has long called for lower rates for all businesses, full and immediate expensing, and a territorial tax system because we know these elements are the pro-growth reforms our economy needs to thrive.
“We applaud the House and Senate Republican leadership, especially Speaker Paul Ryan and Senate Majority Leader Mitch McConnell, as well as House Ways and Means Committee Chairman Kevin Brady and Senate Finance Committee Chairman Orrin Hatch, for their hard work and dedication to ensuring this tax reform is as pro-growth as possible. Our country will reap the benefits of this once-in-a-generation achievement for years to come. When this legislation is signed into law, Americans will see bigger paychecks as well as more opportunities for jobs and for energy development from Alaska.”