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,..
The BUILD Coalition has long warned about the severe impact on businesses of all sizes and from all sectors if the business interest deduction (ID) is eliminated. Lawmakers’ growing concerns with the idea was apparent during a recent House Agriculture Committee hearing on tax reform. Credit financing plays a key role in agriculture—supporting daily operations,..
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..
Last week, Moody’s Investors Service published a new report, “Debt And Taxes: Credit Implications Of New Tax Reform Proposals,” showing how the House GOP Blueprint’s proposal to eliminate interest deductibility would lead to an increase in cash taxes for most business. The loss of interest deductibility would be particularly punitive for speculative-grade rated companies, even..
In a study conducted by the BUILD Coalition last week, we analyzed all public company earnings call transcripts since House Republicans released their Tax Reform Blueprint in June of 2016. The goal was to gain insight into how businesses are thinking about the potential impact of tax reform—especially the proposal to eliminate interest deductibility (ID)…
A March 1 POLITICO piece entitled “The Powerful Financial Reform Within The House GOP Tax Plan,” incorrectly describes interest deductibility (ID) as a tax provision 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..
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..
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..