The U.S. corporate tax system provides a globally competitive tax rate that encourages companies to invest in America and benefits U.S. workers, families, and communities. Policymakers at all levels should maintain and build upon this successful tax system to encourage investment in American businesses.
Specifically, federal policymakers should preserve a competitive corporate tax rate along with policies that allow businesses to deduct all expenses in the year they occur. Federal tax and budget policy should also renew investments in private sector research and development (R&D) to ignite innovation, create jobs, and increase our global competitiveness. Federal policymakers should also support tax policies that encourage U.S. manufacturing of key technologies such as semiconductors. Policymakers should also seek opportunities to support startups and entrepreneurs through tax policy that promotes stock ownership.
To maintain a competitive international tax system that promotes innovation and growth, federal policymakers should preserve U.S. tax laws that encourages multinational companies to continue to invest and innovate in the United States. The U.S. should challenge discriminatory taxes proposed or placed upon U.S. technology companies by foreign tax authorities.
