WASHINGTON (September 19, 2017) – Today, the BUILD Coalition submitted a letter to the Senate Finance Committee outlining the need to maintain full interest deductibility for all American businesses. The submission highlights how businesses of all sizes and across all sectors rely on the ability to deduct interest expense to access capital that is critical for..
The tax reform that Congress passes now will affect our economy for decades to come. The last time Congress passed tax reform was 36 years ago – more than a generation. So, lawmakers need to look beyond the next political cycle and seriously consider the long-term implications of the tax reform proposals they’re evaluating. Unfortunately,..
As lawmakers look for ways to finance a lower corporate tax rate, some are considering capping the deductibility of interest for businesses. This would be a mistake. Interest deductibility (ID) has been a staple of the modern U.S. tax code since its inception more than 100 years ago. Businesses large and small borrow to help..
WASHINGTON (July 6, 2017) – Today, the BUILD Coalition submitted a letter to the Senate Finance Committee outlining the need to preserve full interest deductibility for American businesses. The submission highlights how businesses of all sizes and across all sectors rely on the ability to deduct interest expense to access capital that is critical for growth and job..
In 1956, the interstate highway bill, one of the largest public works projects in American history was signed into law. At the time, the system carried roughly 65 million cars and trucks. Today, that number has more than quadrupled to over 260 million. The increase in traffic borne by our national highway system is just..
Interest deductibility plays an important role across many sectors. For example, manufacturing uses interest deductibility to open a new plant, fill a large order, or purchase new plants and equipment. The healthcare industry uses interest deductibility to fund innovation and develop new, life-saving technologies. Even four out of five small businesses use debt financing and interest..
This week, President Trump is engaging with executives, mayors, and community leaders to discuss America’s much-needed investment in roads, railways, waterways, and other major infrastructure projects. With over $4.6 trillion needed by 2022 just to get our infrastructure to a “B Grade,” President Trump’s proposed $1 trillion plan is an important first step. As we..
The following is an open letter by the BUILD Coalition on behalf of its members: The BUILD Coalition stands for Businesses United for Interest and Loan Deductibility. Our members represent industries throughout the economy, including agriculture, manufacturing, retail, and telecommunications. The coalition is committed to pro-growth tax reform. As we know from our experiences on..
As House Ways and Means Committee Republicans enter the second day of their two-day retreat to discuss how to align their tax plan with the White House’s principles, they must remember the role interest deductibility (ID) plays in facilitating business growth. The stated goal of the tax reform effort is to foster stronger business investment..
With the Affordable Care Act repeal and replace effort tabled for now, the White House and Congress say they are shifting focus to their next big project: tax reform. However, according to an Axios article this week, this might not be all they are considering. Rumor has it that plans for a massive infrastructure spending..