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 released the Tax Cuts and Jobs Act:
“America needs a pro-growth tax reform bill that modernizes the nation’s antiquated tax code. If done right, tax reform will place American companies on a level-playing field, increase competition globally and create more jobs for Americans. These are the standards we will use to evaluate the entire legislative package. The tech industry thanks Chairman Brady and the members of the House Ways and Means Committee for continuing to prioritize this once-in-a-generation opportunity. We look forward to reviewing this plan.”
ITI has been a leading voice for tax reform. It has commended Congress and the administration for acting swiftly on the issue. 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.