LIVE: @senorrinhatch is speaking now at the @taxpolicycenter on the impact of #taxreform on American businesses. Tune in: http://brook.gs/2suDtTC #BusinessTax
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Hatch: One of the main goals in drafting
#taxreform was to provide middle-class tax relief. By lowering rates, increasing the standard deduction, and boosting the child tax credit, we met that goal.#BusinessTaxShow this thread
Hatch: Reducing the corporate tax rate from 35 percent – the highest in the industrialized world – to 21 percent was chief among the business tax reforms we enacted and put us on par with our international trading partners. #taxreform #BusinessTax
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Hatch: No matter how you slice it, by reducing the corporate tax rates, we have lowered the tax burden and increased the potential to generate wealth for the American middle class.
#taxreform#BusinessTaxShow this thread -
Hatch: Since we enacted
#taxreform, more than 340 companies have announced they are awarding bonuses, raising wages, or boosting retirement contributions – benefiting about 3.5 million workers.#BusinessTaxShow this thread -
Hatch: For a middle-class family, $1,000 is three or four car payments, a couple months’ worth of groceries, or a rent or mortgage payment.
#taxreform#BusinessTaxShow this thread -
Hatch: Between a reduced corporate rate, the transition to a territorial system, and the BEAT, we have created a system that will keep investments in the United States from being shipped overseas.
#taxreform#BusinessTaxShow this thread -
Hatch: Just yesterday,
@WSJ reported that, under the new law, a significant number of companies that inverted over the last few years will see their taxes go up, at least slightly. This is what it means to be competitive with the rest of the world.#taxreform#BusinessTaxShow this thread -
Chairman
@senorrinhatch’s full@TaxPolicyCenter remarks can be found here:https://go.usa.gov/xn6jaShow this thread
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