MEMBERS OF CONGRESS
Speaker of the House Paul Ryan (R-WI): “Today, we move one step closer to fixing our broken tax code so that it puts Americans first. This is our best opportunity in a generation to deliver real middle-class tax relief, create jobs here at home, and fuel unprecedented economic growth. It has been 31 years since we last got this done, and hardworking families and small businesses cannot afford to wait any longer. Under President Trump’s leadership, we are determined to finally give the American people the simpler, fairer, and more competitive tax system they deserve.”
Senate Majority Leader Mitch McConnell: “Later today, I look forward to joining members of the Senate Finance Committee, the House Ways & Means Committee, and other congressional leaders in unveiling a unified framework for fixing our nation’s broken tax code. It’s an idea that can bring much-needed relief to middle-class families and small businesses and help keep more jobs in America. It’s the result of a lot of hard work and input from Members, Committees, staffs, and the administration, to name a few — I thank them again for their continued diligence on behalf of our country. This framework is focused on supporting American jobs, on making taxes fairer and on growing families’ paychecks.”
Senate Finance Committee Chairman Orrin Hatch (R-UT): “For too long, Americans have been bogged down by an outdated tax code that runs counter to the goal of growth and fails to promote jobs and investment here at home… Principals in the Senate, House, and administration recognized this challenge and worked with members to find consensus and produce a unified framework that marks a significant shift away from America’s broken tax system… Our unified framework will launch a robust legislative process and serve as a critical roadmap for the tax-writing committees, as we draft legislation for a tax overhaul that embraces Republicans’ shared vision. We are committed to creating a healthier American economy that will produce more jobs, bigger paychecks and a fairer, more predictable system for taxpayers across the country. The challenge before us is clear. The Senate Finance Committee is ready to roll up its sleeves and get to work.”
House Ways And Means Committee Chairman Kevin Brady: “This is an exciting day for the millions of Americans who are tired of today’s broken tax code and have waited for years for better job opportunities, more take-home pay, and a stronger economy. Today, House Republicans joined President Trump and our Senate colleagues in letting the American people know: we’re taking action. After years of work, we are moving forward with a unified framework that paves the way for bold, transformational tax reform – tax reform that will bring more jobs, fairer taxes, and bigger paychecks. We have a lot of work ahead. But this moment marks a major step forward in the process. Now it’s time for the Ways and Means Committee to build on this momentum and deliver legislation that President Trump can ultimately sign into law. We are closer than ever to finishing what we have started for the American people – and 2017 is our year to make it happen.”
Senate Majority Whip John Cornyn (R-TX): “This plan lays the foundation for a simpler tax code that will enable Texans to keep more of what they earn and help create jobs here at home. As Congress continues to work on reforming our antiquated tax code, working families and small businesses in Texas are my top priority. I look forward to working with my colleagues and the President to enact reforms that spur economic growth and put money back in the pockets of hardworking Texans.”
Senator John Thune (R-SD): “The Obama era brought higher taxes, more regulations, and a stagnant economy. Congress now has the opportunity to implement pro-growth tax reform policies and provide relief to working families. The administration together with Speaker Ryan, Leader McConnell, and leaders of the Senate Finance Committee and the House Ways and Means Committee have produced a framework that gives us the ability to do just that. Working Americans across the country are living paycheck to paycheck. We must deliver on tax reform policies that will lead to more jobs, fairer taxes, and bigger paychecks. I look forward to working with President Trump, leaders in both chambers of Congress, and my fellow members of the Finance Committee to ensure our reforms make it to the president’s desk for his signature.”
Senator Roger Wicker (R-MS): “One of my top priorities is to help President Trump reform our country’s broken tax code and ensure that Mississippi families keep more of what they earn…This particular proposal has the potential to make the economy roar, help job creators, spur innovation, and renew the spirit of the American Dream. This is a watershed moment that we cannot afford to miss.”
House Majority Leader Kevin McCarthy (R-CA): “Tax reform is our country’s greatest opportunity to make America stronger and give people the opportunity for better lives. Today’s code is broken. It was designed in a different time and for decades it has grown to benefit special interests at the expense of hardworking taxpayers who simply don’t have an army of tax lawyers. This unified framework answers the call from the American people for a fairer and simpler tax code that will create jobs. It will also propel American innovation and business to new heights in the 21st century. With President Trump and the Republican Congress we will rise to this moment and deliver tax reform for a stronger America.”
Rep. Mike Bishop (R-MI): “Today, we’re moving the ball forward on tax reform. The American people have not seen bold, transformational tax reform in 31 years – and our Congress and Administration are doing something about it. Our framework outlines the ways we can create jobs here in the United States and bring more back from overseas. Middle-income families can expect much-needed tax relief and bigger paychecks. It will be simple enough for nine out of 10 Americans to file their taxes on a postcard. Job creators of all sizes, especially small businesses, will get relief and have more certainty so they can plan ahead and grow our economy. This is tax reform done right.”
House Budget Committee Chairman Diane Black (R-TN): “As a unified government, we worked with President Trump and the Senate to craft a framework benefitting every income level, especially the middle class. Our reform also delivers the lowest tax rates in modern history for businesses so job creators can provide bigger paychecks to their employees and incentivize hard work. By simplifying the system and getting the government out of the way of our free-market economy, America is made more competitive on an international scale and the potential for unprecedented job creation is unleashed. We believe this will be a catalyst for more jobs, bigger paychecks and fairer taxes – this framework is pro-America. Plain and simple.”
Rep. Ken Calvert (R-CA): “The tax reform framework announced today is an important step towards making America’s tax code fairer, simpler and more competitive…We need a tax code that works for the middle-class and for our job creators. By putting America first we can create more economic opportunities that will benefit hard-working families throughout our country.”
House Small Business Committee Chairman Steve Chabot (R-OH): “Today, we took a positive step toward fixing our broken tax code and helping provide relief to the tens of millions of small businesses across our country who continue to be held back by a broken system. Small businesses deserved a voice in the largest tax reform in 31 years and today they were heard. This unified plan will provide small business owners, their families, and their employees with a simpler and fairer tax code that will help their bottom lines, and also grow our economy.”
Rep. Warren Davidson (R-OH): “Hardworking Ohio families deserve a simple tax system and more take home pay. In the coming weeks, I’ll be working with my colleagues in Congress to make sure the bold, pro-growth and pro-family reforms that this framework proposes are put in place and that a final bill arrives on President Trump’s desk as soon as possible.”
Rep. Ron Estes (R-KS): “Real tax reform is needed to keep America competitive in a global marketplace. Economic growth from reforming our antiquated tax system will bring higher wages, and better jobs for working families in Kansas. It’s time to fix America’s complex and outdated tax code so that Kansas families have more money in their pocket to save for retirement or plan for college. I look forward to acting on this framework and working with the Ways and Means Committee to put more money back in the hands of hard-working Kansans.”
Rep. Tom Graves (R-GA): “This framework turns the page on our complicated and broken tax system. It’s simpler, flatter and fairer than the current tax code. It will put more money in the pockets of hard-working Americans. It also promotes economic growth and private-sector job creation by slashing the corporate tax rate – currently the highest in the developed world – and ensuring fair treatment for small businesses. Congress needs to get the final product to the president’s desk as quickly as possible.”
Rep. Gregg Harper (R-MS): “Today, with the help of the President, Congress has taken a huge step towards fixing our country’s broken tax code and bringing real reform to middle-class families, small businesses, and Mississippi’s family farms who cannot afford to keep the current system any longer. This plan is aimed at delivering a simpler, fairer tax system that will create jobs, grow our economy, and deliver much-needed relief to the hardworking men and women who are hurting under the burdensome tax code.”
Rep. Jody Hice (R-GA): “I really like what I’m seeing so far with the tax reform framework. This bold, new proposal is just the first step toward creating a system that is both competitive and fair. I’m pleased that it will empower Americans to take home more of their hard-earned paychecks and enable businesses of all sizes to grow and thrive. We’re moving in the right direction, and I’m proud to be a part of this long overdue reform effort. As the tax-writing committees continue to flesh out the specific legislation, I look forward to being a partner in the discussion so we can send a final bill to President Trump’s desk as soon as possible.”
Rep. Lynn Jenkins (R-KS): “This framework will serve as an outline as Congress takes an important step to reform our broken tax code and replace it with a simpler and fairer code. One that lowers rates for individuals and families so they save time and money doing their taxes and keep more of their hard-earned money. A tax code that helps jumpstart our economy and creates more opportunities for all Americans.”
Rep. Sam Johnson (R-TX): “America’s current tax code is complicated and broken, and right now we have an opportunity to fundamentally reform it for the 21st Century. Not only does Washington have a much-needed chance to make the code simpler – which I strongly believe is necessary, but it’s an opportunity to enable businesses so they are better able to compete in the global economy. Even more important, tax reform should reward hardworking American families. This blueprint is a first step. We must get tax reform right, and I look forward to working with my fellow Ways and Means colleagues on behalf of America’s taxpayers.”
Rep. Mike Kelly (R-PA): “Today is a day to celebrate. With this framework, pro-growth tax reform is no longer just a lofty ambition but a concrete plan that is closer to realization than at any point in over three decades. This is a total win for America in every measurable way. For hardworking families and individuals, this means more take-home pay. For American companies, it means no longer having to pay the world’s highest tax rate but, instead, being able to create new jobs, increase wages, and compete globally on a level playing field. For everyone, it means a much stronger American economy supported by a fairer, simpler, more understandable tax code. This is an economic growth plan. This is a jobs plan. This is a relief plan for hardworking Americans who are tired of forfeiting too much of their hard-earned paycheck to the government. The foundation of this framework is the mandate delivered loudly by the American people last year.”
Rep. Roger Marshall (R-KS): “This fairer, simpler system will be a huge relief for the working and middle class. Gone are the days of a 75,000-page tax code full of favors and loopholes for the most powerful, wealthy and well-connected. This reform is overdue, and why many of my colleagues and I came to this body – to bring real-world, commonsense reform for our generation, for our kids, and for our grandkids.”
Rep. Patrick McHenry (R-NC): “Our tax code is broken. It hurts America’s families and small businesses and strangles economic growth. The unified framework released today changes this. It provides relief to middle-class American families, simplifying the tax filing process and reducing rates so they can keep more of their hard-earned money. Our plan will help spur the economy and create good-paying jobs by lessening the burden on our small businesses. Today’s announcement is an important first step in a long overdue process. In the weeks ahead, I look forward to working with my colleagues and President Trump on this important effort.”
Rep. Paul Mitchell (R-MI): “As I have said repeatedly throughout this process, we need a tax reform plan that focuses on delivering relief to those who need it most – the middle class. The framework released today would double the standard deduction so that families and individuals can keep more of their hard-earned dollars, simplify the code into three tax brackets, and eliminate unfair taxes like the ‘Death tax’ that place an undue burden on farmers and family owned businesses. The American people asked for tax relief; it’s time for both parties and both chambers of Congress to come together to deliver. I look forward to working with my colleagues in the House and Senate, and with President Trump, to turn today’s framework into legislation that will put American workers and families first.”
Rep. Dave Reichert (R-WA): “The framework outlines a plan that provides tax relief and a simplified code to middle-class families, making Americans’ day to day life more affordable so individuals and families can focus on the things that matter. And it sets out a path for significant economic growth, by lowering tax rates for American businesses and encouraging investment here at home. America’s outdated tax code has weighed down American workers and businesses as our foreign competitors move forward. We simply must have a tax code that supports the creation of good-paying jobs in America. This is a once in a generation opportunity that will improve the lives of American families for generations to come. I look forward to working with the Administration and my colleagues on both sides of the aisle over the coming months on a tax plan that will give Americans a raise, help our businesses compete, and simplify the tax code.”
House Veterans’ Affairs Committee Chairman Phil Roe (R-TN): “The framework released today is a down payment on our promise to create jobs and grow our economy. By simplifying the way taxes are collected through consolidated brackets, repealing the Death Tax, and eliminating loopholes primarily used by the wealthy, middle-class Americans will be able to keep more of the money they earn and in turn provide for their families. I look forward to working with the Trump administration and my colleagues in Congress to keep our promise to deliver long-awaited tax relief that will greatly benefit East Tennesseans.”
Rep. Pat Tiberi (R-OH): “This is a framework for tax reform that will help all Americans, especially those who have felt left behind in the slow and uneven economic recovery of the past decade. We will simplify the code, make it easier for everyone to file their taxes, and allow middle-income Americans to keep more of their paychecks so they have the confidence and ability to save, plan for the future and get ahead.”
Rep. Fred Upton (R-MI): “Our framework will deliver tax relief for middle-class families, allow workers to take home more money, and put American businesses in a better competitive position – keeping jobs here at home. Americans need tax relief and reform now more than ever. As I’ve spoken to countless folks and businesses, small and large, here in Southwest Michigan all agree that our tax code is too unwieldy, too costly, and too complicated. It’s time to change that so we can unleash American competitiveness and ingenuity which will create more good-paying jobs and economic benefits right here. I’m confident we can deliver this year. I look forward to working with my colleagues here in the House and Senate and with the administration to deliver results for families and businesses in Michigan and across the country.”
Rep. Tim Walberg (R-MI): “The framework released today begins the process of simplifying the tax code and allowing hard-working, middle class families in Michigan to keep more of what they earn. These reforms will increase take-home pay, boost job creation, and enable a more competitive and healthy economy. Meaningful tax reform is the key to growing good-paying jobs and opportunity for all American workers and manufacturers. I look forward to working with all my colleagues in Congress and the Trump administration to get the job done.”
Rep. Jackie Walorski (R-IN): “This framework gives tax relief to middle-class families and simplifies the tax code so they can file their taxes on a postcard. It lowers tax rates on small businesses, helps manufacturers build more American-made products, and makes America more competitive in the global economy. And it puts American workers on a level playing field by ending the incentive for companies to send jobs and capital overseas. We have a once-in-a-generation opportunity to put American families, workers, farmers, small business owners, and manufacturers on a stronger path, and I look forward to working with my colleagues on the Ways and Means Committee in the coming weeks to get a bill ready for the president’s signature.”
CABINET SECRETARIES
Treasury Secretary Steven T. Mnuchin: “Today President Donald J. Trump shared how middle-income families will win when we cut their taxes, and make American businesses competitive again. The President outlined a framework with Congress that will create a simpler and fairer tax code that fuels job creation, higher wages, and economic growth, and will lead to the lowest marginal income tax rate for small and mid-size businesses in more than 80 years. Indiana is a great example of how tax relief and reforms like these can lead to record-high employment, more investment in education and innovation, and more manufacturing right here in America. Democrats and Republicans have a historic opportunity to work together to pass meaningful legislation that, as the President stated, will begin the ‘Middle Class Miracle.’ With the President’s leadership, we will create a level playing field so that American businesses and workers will be in a position to succeed in our global economy.”
Agriculture Secretary Sonny Perdue: “The people of American agriculture work hard every day to provide food, fiber, and fuel for their fellow citizens, so they shouldn’t be overburdened by the tax collector as well. Most family farms operate as small businesses, with the line between success and failure frequently being razor thin. Add to that the complexity and costs of merely complying with the tax code, and their budgets are stretched even tighter. On top of it all, the unfair ‘Death Tax’ can cause too many family farms to be broken up and sold off to pay the tax bill, undoing lifetimes of toil and preventing further generations from carrying on. President Trump is right to push for reform and reductions in the tax code—an overhaul that is long overdue.”
Labor Secretary Alex Acosta: “President Donald J. Trump’s tax reform framework is great news for Americans and American job creators. This plan will create a simpler and fairer tax system. American families will keep more of their hard-earned pay, and job creators will have more resources to invest in the American workforce. This plan promotes job creation in the United States. We are going to see investment return home, fueling new job growth across all industries. It is critical that we unleash the full potential of the world’s greatest workforce: the American workforce.”
Administrator of the Small Business Administration Linda McMahon: “I built a business from the ground up, so I know first-hand how challenging the current tax code is for entrepreneurs. One of the first things I hear from the business owners I’ve met in my travels around the country is the urgent need for tax reform. They want to see lower rates and a simpler tax code to level the playing field. President Donald J. Trump’s proposed framework eliminates special interest tax breaks that benefit the wealthy and lowers the corporate tax rate, restoring our competitive edge and boosting our economy, which is always good for small business. It also caps the top rate for businesses that operate as pass-through entities (S-Corporations and LLCs). This is reform that will be welcomed by small business owners!”
ADVOCACY GROUPS
Americans for Tax Reform President Grover Norquist: “The Republican tax reform plan will turbo-charge the economy, create millions of new jobs and make America the best place in the world to invest, build and create.”
Americans for Prosperity Chief Government Affairs Officer Brent Gardner: “This is a strong framework for the kind of bold, pro-growth reform we’ve been working to support all year. If Congress can translate policy like this into legislation, we can expect a renaissance for the U.S. economy, job growth and production to follow. This plan will improve lives by allowing Americans to keep more money in their paychecks and ensuring the United States is the best place in the world to do business.”
Club for Growth President David McIntosh: “Club for Growth is very encouraged and pleased with the long-awaited tax reform outline that the Big Six released today…. The outline is both aggressive and very pro-growth with its rate reductions. Club for Growth congratulates the members of the Big Six for their hard work and will continue to support the pro-growth efforts of the Trump administration and Congress as they seek to make tax reform a reality.”
Freedom Partners Vice President of Policy Nathan Nascimento: “This framework is a giant step for a stronger economy, and more jobs and higher wages for the American people. Making it a reality would let taxpayers keep more of their hard-earned money, increase America’s global competitiveness, and send a message that there will be no better place in the world to invest and create jobs than the United States. We look forward to continue working with Congress and the administration to rally support for tax reform and unite all Americans behind the kind of positive vision announced today. Americans have been promised a simple, fairer tax code that unrigs the economy and puts taxpayers ahead of special interests. It’s time to deliver on that promise.”
FreedomWorks President Adam Brandon: “The framework released today represents a transformation of America’s tax code and would help the middle class. It simplifies a complex system that taxpayers spend billions annually to comply with and will spur economic growth, allowing American businesses to increase wages and create more jobs.”
American Action Network Executive Director Corey Bliss: “The White House and congressional leaders have unveiled a unified and bold plan to move forward on pro-growth tax reform that puts middle-class families and job creators first. With too many hardworking Americans living paycheck to paycheck and small businesses struggling to keep up with foreign competition, it’s clear the status quo has failed. Congress has the opportunity to make things right and deliver a tax code that is simple, fair and lowers rates for working families and small businesses.”
60 Plus Founder and Chairman James Martin: “There’s a lot for seniors to like in President Trump’s framework for tax reform. After reviewing the President’s plan, I believe the net effect can be summed up in four words – promises made, promises kept. It abolishes the Death Tax as he promised, safeguarding family farms, ranches and small businesses. It simplifies the tax code by reducing to three the number of marginal tax brackets, and caps the maximum tax rate for family owned businesses. In addition to that, the doubling of the standard deduction will be a huge boon to low-income retirees and those who no longer itemize their deductions because they have sold their homes and moved to retirement communities. President Trump’s plan to set the corporate tax rate to 20 percent and a one-time low rate for bringing home their overseas profits will go a long way toward creating new jobs and providing greater economic growth in communities across America, all while making the United States more competitive in the global economy. This tax reform package is true to President Trump’s promises to the American people and we look forward to educating our millions of 60-Plus members on its virtues and benefits for them, their families and our nation.”
Citizens Against Government Waste President Tom Schatz: “The ‘Big Six’ tax reform plan is a historic opportunity to unleash the economic potential of the American people. If the plan is enacted, Americans will get to keep more of their own money, filing taxes will be far simpler, and small businesses will boost wages and create jobs.”
National Taxpayers Union President Pete Sepp: “For overburdened taxpayers, the wait is over – Congress and the President are not only reading from the same book on tax reform, they’re now getting on the same page. The core tax reform principles they’ve outlined in today’s framework can deliver on relief for middle-class families and individuals, a simpler filing process, a fairer system that allows all businesses to create more jobs, and ultimately a prosperous economy…. In short, we have the best opportunity in more than three decades to transform our antiquated tax code for the benefit of everyone.”
Heritage Action CEO Michael Needham: “We have a once in a generation opportunity to fundamentally reform our nation’s stagnant and convoluted tax code that suppresses American job creators and workers. Heritage Action applauds President Trump and congressional leaders for uniting behind a coherent set of reforms and reductions that align with conservative priorities. If enacted, there is no doubt such a plan would unleash economic growth, create jobs and increase wages.”
Consumer Action for a Strong Economy: “CASE enthusiastically supports the bold and dynamic Tax Reform proposal released today by President Trump and Congressional leaders. They understand the critical need America’s workers and businesses have for a tax system that will create jobs, spark economic growth, and let people keep more of what they earn. This is exactly what they accomplished by putting forth a plan that lowers individual and corporate tax rates, makes our tax code simpler, fairer, and less complicated, and creates incentives to keep jobs in America and bring trillions of dollars of assets back to our shores. CASE fully supports this framework and will work with lawmakers and other leaders to see it come to fruition, to finally bring an end to the current tax structure which punishes work, savings and investment, while making America less competitive in the global economy.”
Middle-Class Growth Initiative Spokesman Michael Steel: “Pro-growth tax reform is decades overdue, and the unified framework released today is a major step toward the simpler, fairer tax code Americans deserve…. With the prosperity of middle-class families as a central objective, these reforms will lead to higher wages, greater job creation, and stronger economic growth. Workers are counting on members of Congress and the Administration to come together and pass this plan.”
BUSINESSES, TRADE GROUPS, AND PRIVATE SECTOR LEADERS
U.S. Chamber Of Commerce Senior Vice President And Chief Policy Officer Neil Bradley: “Today’s announcement, and the unity of vision shown in it, bolsters our confidence that tax reform can be enacted this year. The engagement and enthusiasm for pro-growth tax reform from Trump administration officials and Congressional lawmakers is what will propel this over the finish line for American businesses, workers, and families. The U.S. Chamber applauds the work that has been done to narrow the differences and we look forward to continuing to engage policy makers on this critical issue.”
National Association of Manufacturers President And CEO Jay Timmons: “Today is a great day for those who believe America’s best days are still ahead. This tax reform framework is the type of bold action manufacturers have been calling for because it will spur economic growth for all Americans. The United States needs to continue to be the most attractive place to invest and start a business, and this initial proposal is a positive step in that direction.”
Small Business & Entrepreneurship Council President And CEO Karen Kerrigan: “The unified framework released by GOP leaders and tax writers today is a solid starting point for tax reform. The plan lowers rates for small businesses, simplifies the tax system and encourages investment and capital formation. These are the necessary pieces for producing a healthy ecosystem that will enable American entrepreneurs and small businesses to succeed…. It is a bold package that will produce big growth for the U.S. economy.”
The National Federation of Independent Business: “We are grateful to the President and congressional leaders for remaining steadfast on tax reform. We are pleased to see that the initial plan calls for reducing taxes on pass-through companies, which represent the overwhelming majority of American small businesses. This is the beginning of a long process, and we look forward to more details. NFIB will remain engaged to ensure that tax reform starts with small business. Small businesses need meaningful reform that lowers their tax bill, allows them to invest in their business, create jobs, and grow the economy.”
National Retail Federation President and CEO Matthew Shay: “We look forward to hearing more details but this is a very positive step forward to achieving the kind of comprehensive tax reform that is needed to keep our nation’s economy competitive in the global environment. This plan would provide much-needed relief for corporations, small businesses and middle-class individuals alike, and would help draw foreign capital and investment to the United States. This is the framework we need to unlock job creation and economic growth. As an industry that pays at or close to the full 35 percent federal corporate tax rate, our focus is on eliminating tax breaks that benefit only a few industries and using the money saved to lower rates for all businesses. If you get the rate low enough, that would benefit everyone equally and fairly without the need for special treatment that favors one sector of the economy over another. Economic studies show that this type of reform will increase investment in the United States, increase wages and help our customers. That is our No. 1 goal, and it has been for years. Retailers are affected by both the business and individual sides of tax reform. The relief provided to corporations and small business ‘pass-throughs’ in this plan would help ease retailers’ tax burden and free up capital for investment, job growth, higher wages and innovation. But just as importantly, the middle-class relief provided here means consumers would have more money in their pockets when they come into our stores, and that would mean a boost for the consumer spending that drives both retail sales and two-thirds of our nation’s economy.”
Associated Builders and Contractors: “The tax framework released today marks a promising step forward for the first genuine reform of the tax code in a generation. Associated Builders and Contractors is encouraged by the proposal, and we strongly support the tax reform process moving forward. The framework and its targets go a long way toward advancing ABC’s tax policy goals. Construction historically faces the highest effective tax burden of any industry. The vast majority of construction firms are small and family-owned businesses that pay taxes at individual rates. The equivalent rate reduction envisioned in the framework for businesses on both sides of the code, paired with a broader tax base, moves toward ABC’s vision of fair treatment for all companies regardless of size, structure or sector. While the framework is an important first step, there is much work to be done. Before this process can move forward, Congress must pass a budget resolution that instructs tax writers to turn this framework into legislative language. With so much left to the discretion of the committees, there is little time to spare. We look forward to working with both chambers to build on the structure of this framework in a way that promotes simplicity, fairness and economic growth.”
Business Roundtable President And CEO Joshua Bolten: “The ‘Big Six’ framework, including a globally competitive rate and a shift toward a territorial system, is an important step in the process and we need to keep the momentum building.”
Financial Services Roundtable CEO Tim Pawlenty: “The Big Six tax announcement reflects a commitment to delivering a simpler and fairer tax code that grows the economy and benefits more hardworking Americans…. As Congress puts pen to paper this fall, the financial industry looks forward to continuing to be a constructive partner in passing reform.”
JPMorgan Chase & Co. Chairman And CEO Jamie Dimon: “Today’s announcement is an encouraging step forward in our shared goal of a tax system that delivers higher economic growth, job creation and wages that our country desperately needs. Congress must act with urgency on this framework and move the legislative process forward. Congress and the Administration are committed to tax reform, and business leaders are equally committed to pushing beyond our parochial interests to achieve a result that benefits the economy and American workers.”
EY Global Chairman And CEO Mark Weinberger: “The unified framework provides the necessary elements to create jobs and growth: competitive tax rates for businesses, a more competitive international tax system that would not punish businesses for bringing foreign earnings to the United States and middle class tax relief…. This will provide greater certainty and allow businesses to increase investment in workers and capital equipment and grow the economy.”
Securities Industry and Financial Markets Association (SIFMA) President and CEO Kenneth Bentsen: “SIFMA strongly supports tax reform and we are encouraged that the Framework announced today is another step toward a fair and competitive result for our members and their clients. We agree with the authors of today’s Framework that we need to modernize the Internal Revenue Code to enhance economic growth and improve the standard of living for all Americans. SIFMA remains committed to promoting policies that grow the U.S. economy and preserve our robust capital markets.”
AT&T Senior Executive Vice President and Chief Financial Officer John Stephens: “The tax framework released today is a big step toward meaningful reform that would encourage more investment and job creation in the United States. A significantly lower corporate tax rate will help U.S. companies compete with companies from other industrialized countries and spur long-term economic growth. For AT&T, we would step up our investments in the technology and next-generation networks that are engines of our modern economy. We look forward to working with Congress as they take the necessary steps to move quickly through the process to reform the tax code.”
