July 27, 2017

WASHINGTON – Today technology industry trade group ITI, the global voice of the tech sector, released the following statement from Senior Vice President of Government Affairs Andy Halataei after congressional leadership and White House officials released their joint statement on tax reform:

“For tech, tax reform ‘done right’ can’t come soon enough. To have Congress and the White House unified like this means that not only is the band getting together, they’re singing the same tune,” Halataei said. “Even as our companies innovate, create good jobs and drive the economy to new heights, we labor under an antiquated tax code predating the internet. The resulting dysfunction holds the U.S. economy back from its true potential and it creates serious friction for our companies as we try to compete around the world. With congressional committees being given the green light, we look forward to reviewing the details of their proposals this Fall and working with lawmakers to modernize our tax code so that it unleashes future U.S. innovation.”

The tech industry considers tax reform a key legislative priority and ITI most recently laid out its tax reform priorities for Congress to update an archaic tax code by focusing on:

  • 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

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Public Policy Tags: Tax Policy