This week, the Association for Corporate Growth (ACG) held its 2017 Middle-Market Public Policy Summit, where lawmakers and business leaders met to discuss the new political landscape and how public policy can promote the growth of the middle market. One important topic that came up was interest deductibility (ID). The middle market covers roughly 200,000..
In its February 2 piece entitled “What If Interest Expenses Were No Longer Tax-Deductible?“, The Economist incorrectly describes interest deductibility (ID) as a tax break that makes the economy riskier by encouraging debt financing. This is a simplistic view that mischaracterizes a fundamental feature of our economic system—one that has helped to drive growth in the..
Virtually every company in America relies on credit to finance investments–be it to upgrade equipment, open new facilities, meet payroll, or hire more talent. The ability to deduct the interest expense related to the funding of these activities has allowed businesses across all sectors of the U.S. economy to grow and remain competitive for close..
By Mac O’Brien, Spokesperson, BUILD Coalition In his December 20 piece entitled “The Tax Reform No One Is Discussing,” author Scott MacDonald employs a series of dubious assumptions and misleading examples in recommending the elimination of interest deductibility from the tax code. The truth is that such a reform would be anti-growth and harmful to..
Today, House Ways and Means Committee Chairman Kevin Brady authored an opinion piece that discusses the 30th anniversary of tax reform and points to the House Republican blueprint plan as a foundation for tax reform efforts moving forward. In response, BUILD Coalition spokesman Mac O’Brien issued the following statement: “We are pleased to read Chairman..
With the release of House Ways and Means Committee Chairman Rep. Kevin Brady’s tax reform blueprint coming today, BUILD Coalition spokesman Mac O’Brien issued the following statement: “We appreciate the efforts undertaken by Chairman Brady in preparing this serious document containing principles for tax reform. While we are disappointed that the Chairman is considering eliminating..
With today being the last day for most Americans to file their taxes, BUILD Coalition spokesman Mac O’Brien released the following statement: “For many businesses, both large and small, tax day is met with anguish. Today, we are reminded of the need for a tax code that is less complex and encourages investment in our..
With today’s House Ways and Means Tax Policy Subcommittee hearing on tax proposals focusing on cash-flow and consumption-based approaches to taxation, BUILD Coalition spokesman Mac O’Brien released the following statement: “The BUILD Coalition supports legislative efforts to revamp the U.S. tax code so as to promote economic growth and investment. However, in order to achieve..
Yesterday, the Tax Policy Center released its review of Sen. Rubio’s tax plan. In response, BUILD Coalition spokesman Mac O’Brien issued the following statement: “The Tax Policy Center has joined a growing list of tax experts who are alarmed by presidential candidates’ proposals to remove the ability for businesses to deduct interest expenses. “In explaining..
With Rep. Devin Nunes unveiling his business tax reform proposal today, the BUILD Coalition released the following statement: “While the BUILD Coalition remains supportive of legislative efforts to reform the U.S. tax code in ways that encourage economic growth, Rep. Nunes’ plan falls short of achieving this most-important goal by eliminating the ability to deduct..