WASHINGTON – Today the technology industry trade group ITI, the global voice of the tech sector, released the following statement from president and CEO Dean Garfield after the House of Representatives passed the Tax Cuts and Jobs Act:
“We thank the House of Representatives for their hard work on tax reform. As the process continues, we urge lawmakers to work together to finalize a bill that incentivizes businesses to invest in the U.S., allows for a competitive transition to a territorial system, and cements robust support for R&D. We have a once-in-a-generation chance to make the U.S. tax code globally competitive and we look forward to continuing to work with lawmakers to make that happen.”
ITI has been a leading voice for tax reform. ITI thanked the House of Representatives for prioritizing tax reform, earlier. The tech industry considers tax reform a key legislative priority, and ITI has outlined its key priorities for Congress to update the tax code by:
- Lowering the corporate rate
- Moving to a territorial system in which profits are taxed where they occur, and
- Investing in innovation that is needed to bolster economic growth and U.S. job creation.