UPDATE: BUILD Statement on Senators Baucus and Hatch’s letter

We at BUILD are thrilled to see action on tax reform in the Senate. Our economy needs to reform a tax code that has become too complex, too bloated, and inefficient for businesses.

-Beth Solomon, President and CEO of the National Association of Development Companies

Today, the BUILD Coalition released a statement from Beth Solomon, BUILD Coalition member and President and CEO of the National Association of Development Companies, regarding Senator Max Baucus and Senator Orrin Hatch’s letter on the next steps of tax reform.

“We at BUILD are thrilled to see action on tax reform in the Senate. Our economy needs to reform a tax code that has become too complex, too bloated, and inefficient for businesses,” said Beth Solomon, BUILD Coalition member and President and CEO of the National Association of Development Companies. “We are also encouraged to see Senators focus on the more than 15,000 changes to the tax code and its many expenditures. However, interest deductibility is an ordinary and necessary business expense, not a tax expenditure or special interest loophole. It is essential to help all businesses grow and create jobs, and any limit would just be a new tax targeting interest that would be detrimental to U.S. growth.”

Along with the BUILD Coalition, Association for Corporate Growth (ACG) issued the following statement:

“ACG supports continued efforts to simplify the tax code because small and mid-size businesses operating throughout the United States need a tax code that promotes business expansion and job growth,” said Gary LaBranche, FASAE, CAE, president and CEO of Association for Corporate Growth. “Interest deductibility is a core component of the tax code going back 100 years. The impact of interest deductibility is essential to help all businesses grow and create jobs. Limiting this would raise the cost of investment in the United States and undermine goals set by Sens. Baucus and Hatch for economic growth. ACG stands with members of the BUILD coalition on this important growth issue.”

To learn more about the BUILD Coalition please visit our website: www.buildcoalition.org or follow us on Twitter @BUILDCoalition.

By | 2013-09-08T15:11:01+00:00 June 27th, 2013|Blog, News|