July 29, 2015

WASHINGTON – Today the Information Technology Industry Council (ITI), the global voice of the tech sector, released a statement from President and CEO Dean Garfield reacting to bipartisan draft proposal legislation made public by Reps. Charles Boustany (R-LA) and Richard Neal (D-MA) to reform U.S. tax laws and establish a preferred tax rate for “innovation-box profits.”

“Innovation is more than a buzzword, it is the key ingredient for building a strong American economy that creates good-paying jobs and new opportunities for our country to compete globally. That is why we thank Congressmen Boustany and Neal for releasing their draft legislation to create an ‘innovation box’ in the United States. Our competitors around the world have implemented policies to encourage breakthrough research and development and high-paying jobs from those advances within their borders. It is time for our country to do the same, and we hope this proposal will spark that kind of forward-leaning conversation. We look forward to reviewing the proposal and offering comments. It is essential to get this policy right if we want to make sure the next big breakthrough happens here—not abroad.”

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Public Policy Tags: Tax Policy