Van Hollen Statement on the President’s Framework for Business Tax Reform
Today Maryland Congressman Chris Van Hollen, Ranking Member of the House Budget Committee, issued the following statement on the President’s Framework for Business Tax Reform:
“The test of any business tax reform proposal is whether it makes America more competitive, whether it makes our tax code more efficient, and whether it is achievable in a fiscally responsible manner. President Obama’s recently announced framework meets all of those tests.
“By proposing to lower the corporate rate to a maximum of 28 percent, the President is reinforcing the message that the United States is a great place to do business. By reducing the effective rate for domestic manufacturing to a maximum of 25 percent and cracking down on tax havens through a minimum corporate rate on foreign earnings, we can continue to ‘insource’ American jobs and reward companies that choose to stay, return, or build new operations in the United States. And by eliminating scores of narrow tax preferences, we can pay for these pro-growth measures in a fiscally responsible way.
“This business tax reform framework is the right path for America, and I look forward to working with President Obama and colleagues on both sides of the aisle to enact comprehensive business tax reform at the earliest possible opportunity.”