Lakeland Chamber Adds Signature to U.S. Chamber of Commerce Letter Urging Congress to Permanently Extend Pro-Growth Tax Reforms

On behalf of nearly 500 state + local chambers and national associations, including the Lakeland Chamber of Commerce, the U.S. Chamber has issued a letter to Congress to amplify the message of the business community and ensure that lawmakers understand the critical importance of making the 2017 Tax Cuts and Jobs Act permanent.

The letter states:

"To Members of the United States Congress:

The undersigned organizations support extending pro-growth tax policies that have raised workers’ wages, helped families weather inflation, and led to more well-paying jobs. The individual, business, and estate tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) have been instrumental in helping achieve these goals and should be made permanent.

As lawmakers contemplate advancing tax reform legislation through budget reconciliation this year, the importance of adopting the appropriate budget baseline cannot be overstated. We believe it is imperative that Congress adopt a current-policy baseline.

Adopting a current-policy baseline would avoid a $4 trillion dollar tax increase on American families and employers by creating a pathway for Congress to make the TCJA permanent. Doing so would provide businesses the certainty and stability they need to make the long-term investments that drive growth, accelerate productivity, and increase prosperity across all segments of the economy.

Adopting a current-policy baseline would give lawmakers a real chance to deliver permanent tax relief for American families and employers and would not increase the deficit relative to current policy.

History shows that thoughtful tax policy can drive economic growth while improving fiscal responsibility. Lawmakers have the tool in hand to do both, and now is the time to use it."

Source: U.S. Chamber of Commerce