December 18, 2017

WASHINGTON – Today ITI, the global voice of the tech sector, announced its support of the Tax Cuts and Jobs Act ahead of an anticipated vote on the legislation before the U.S. House of Representatives on December 19, 2017. In a letter to members of Congress, ITI emphasized that, overall, tax reform will build a more competitive economy and incentivize future innovation here in the U.S.

ITI scores votes that are key priorities for the technology sector. The following is text of the letter sent to members of Congress announcing the tech organization’s intention to key vote the legislation:

December 18, 2017

The Honorable Mitch McConnell The Honorable Chuck Schumer

Majority Leader Minority Leader

U.S. Senate U.S. Senate

Washington, DC 20515 Washington, DC 20515

The Honorable Paul D. Ryan The Honorable Nancy Pelosi

Speaker of the House Minority Leader

U.S. House of Representatives U.S. House of Representatives

Washington, DC 20515 Washington, DC 20515

Dear Leaders McConnell and Schumer, Speaker Ryan and Leader Pelosi:

On behalf of the over 60 members of the Information Technology Industry Council (ITI), I write to express our strong support of the conference report to the H.R. 1, the Tax Cuts and Jobs Act. Given the importance of these provisions to the high-tech community, we will consider scoring votes in support of final passage of the tax reform legislation in our 115th Congressional Voting Guide.

ITI has long advocated for tax reform that builds a more competitive economy and incentivizes innovation. We are pleased to see that this critical legislation includes a permanent, competitive corporate rate, moves to a territorial system and creates powerful incentives for innovation including a permanent Research and Development Credit, and a tax incentive for income made abroad on intellectual property held in the United States.

Updating the over 30-year-old U.S. tax code is an essential step towards a more rational system for the nation. Adopting a territorial tax system where profits are taxed where they occur is essential to aligning the US system with the rest of the world. Similarly lowering the corporate rate, from one the highest statutory rates in the developed world, will make the United States more competitive in the global arena. Critically for our sector, the law will help ensure the United States remains the global leader in innovative technologies by providing incentives for the development and retention of intellectual property.

On behalf of ITI’s member companies, we urge members of the House and Senate to support the final conference report to the Tax Cuts and Jobs Act.

Sincerely,

Dean Garfield

President & CEO

cc: Members of the House of Representatives and Senate

Public Policy Tags: Tax Policy