ACT Statement on President Obama's Comments on Tax Reform

Washington, D.C. Today, the Alliance for Competitive Taxation (ACT) issued the statement below regarding President Obama's speech on tax reform:

"President Obama's speech today, along with the hard work of Chairmen Baucus and Camp, is another clear sign of growing momentum behind reforming America's outdated tax system to boost our economy and create jobs. Our current tax code is hurting American businesses and workers and locking out trillions of dollars overseas that could instead benefit the U.S. economy.

"ACT companies support comprehensive tax reform, including revenue neutral corporate tax reform that lowers the corporate tax rate and transitions to a new hybrid international system so American businesses can compete abroad and grow in the U.S. To ensure reforms are revenue neutral, ACT members also support rules to protect American jobs and our tax base, and ending corporate tax breaks and preferences. We look forward to working with Congress and the Administration to modernize our tax code to make it simpler and fairer."