With the release of tax legislation by the House Ways & Means Committee today, BUILD Coalition spokesman Mac O’Brien issued the following statement.
“The BUILD Coalition has consistently opposed proposals to limit interest deductibility because tax reform should be pro-growth.
“Placing a limitation on the deduction of interest expense—a normal cost of doing business—amounts to a new tax on American job creators who borrow to invest and grow. This policy change would harm the global competitiveness of businesses across all sectors of the U.S. economy, from manufacturing, to agriculture, to telecommunications and broadband.
“The BUILD Coalition has continued to add new members in recent weeks as more businesses become concerned about potential limitations to interest deductibility, and we will continue engaging policymakers and key stakeholders as the legislative process unfolds. We remain optimistic that Congress and the administration will work together to enact pro-growth tax reform that maintains full interest deductibility for all businesses.”