Today, Congress achieved what many said was impossible – overhauling our country’s broken, outdated tax code and updating it with bold reforms for lasting growth.
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.”