D.C. — TechNet, the national, bipartisan network of innovation
economy CEOs and senior executives, today expressed its support for the final
conference report of the Tax Cuts and
Jobs Act and urged Congress to pass it this week.
The following statement can be
attributed to Linda Moore, President and CEO of TechNet:
our tax code was last reformed 31 years ago, the U.S. economy has been
transformed by innovative technologies that have changed our lives, created entirely
new industries, and redefined the way we work.
Reforming this tax code is long overdue, and we appreciate the
leadership that Congress and the Administration have shown in moving this
important issue forward.
final tax reform bill is strong in the key areas that encourage innovation and
entrepreneurship and create jobs in America. Lowering the corporate tax rate, transitioning
to a territorial tax system, allowing companies to reinvest their overseas
profits here at home, and safeguarding the R&D tax credit are important drivers
of economic growth. By combining them in
tax reform legislation, they will help trigger a new wave of innovation and investment
in our nation.
to this point has not been easy, and we know that the bill is not perfect. There is also a lot of work ahead to ensure it
is implemented properly, along with the unfinished business of addressing
energy-related tax policy, an effort that must include restoring the Section 48
Investment Tax Credit for so-called ‘orphaned technologies.’
the Tax Cuts and Jobs Act comes to a
final vote, we urge Congress to pass it and seize this opportunity to finally
fix our broken tax code in a way that will make the U.S. more globally competitive,
more entrepreneurial, and create more jobs.”