December 03, 2014

WASHINGTON – The Information Technology Industry Council (ITI), the global voice for the tech sector representing 60 of the world’s leading technology companies, issued the following statement from President and CEO Dean Garfield today after the U.S. House of Representatives passed the Tax Increase Prevention Act of 2014 (H.R. 5771), legislation to continue pro-growth tax provisions often called ‘tax extenders’ that were due to end in 2014 without congressional action:

"Today, the House took another important step to pass a tax extenders package before the year ends.  We encourage the Senate to act quickly to ensure a final bill reaches the President's desk in the time remaining before Congress adjourns for the year.  We care about tax policy because it is the roadmap businesses rely upon to make decisions to invest in research and development and expand their operations in ways that lead to new hiring.

The failure to act creates uncertainty precisely when businesses are making plans to grow their ventures in the year ahead.  Today’s one-year extension only applies to 2014, meaning businesses that are well into plans for 2015 still won't have the certainty they need to plan and remain competitive in the global marketplace.  It's one more symptom in a long list that underscore why lawmakers need to fix a dysfunctional tax code that is holding back the American economy."

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Public Policy Tags: Tax Policy