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..
Click here for the full BUILD letter to the House Ways & Means Committee. May 17, 2017 The Honorable Kevin BradyChairmanCommittee on Ways and Means United States House 1102 Longworth House Office Building Washington, D.C. 20515 The Honorable Richard NealRanking MemberCommittee on Ways and Means United States House 1102 Longworth House Office Building Washington, D.C…
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..
WASHINGTON (April 26, 2017) – The BUILD Coalition issued the following statement on President Trump’s guidelines for tax reform released today. “The BUILD Coalition is encouraged by the just-released White House principles for tax reform, and strongly urges Congress to follow a similar path in its efforts. By prioritizing stronger business investment and economic growth,..