Tomorrow, Apple CEO Tim Cook will put forward the tenets of a reform plan that could fix the broken, antiquated U.S. tax code. His testimony before a Senate panel will focus on shaping a competitive, market-based tax code that has a lower rate and enhances American innovation. We need to responsibly modernize our tax structure, to help American companies create jobs and new opportunities here at home. We live in a worldwide marketplace; it’s time America had a world-class tax system that helps to spark new jobs and new industries across the country
In case you missed it on Friday night, Dean Garfield was on CNBC and pressed for these changes. He noted that when the tax code was last changed, “Ferris Bueller’s Day Off” was the number one movie at the box office. Shifting to a competitive, market-based tax system would bring more money to the U.S., creating jobs and boosting the economy. Everyone on the program agreed, and the time for Congress to act is now. Our economy cannot wait.
Watch Dean on The Kudlow Report, and check back tomorrow for more news on the hearing.