ACT Statement on President Obama's State of the Union Address

Washington, D.C. Today, the Alliance for Competitive Taxation (ACT) issued the following statement regarding President Obama's annual State of the Union address:

"We agree with President Obama that the U.S. needs tax reform that will make the U.S. more competitive, grow the U.S. economy and boost wages for millions of workers. While we support the idea of ending corporate tax breaks to help pay for corporate reform, the U.S. economy does not need new taxes on banks that will end up harming workers, businesses and their customers. ACT strongly believes tax reform should simplify the code, provide a competitive rate, modernize our international system of taxation, promote economic growth and create good paying jobs. ACT is very encouraged by the Senate Finance Committee's establishment of bipartisan tax reform working groups. We look forward to continuing to work with the new Congress and the Administration on tax reform that makes the economy stronger for everyone."