FedEx Chief Financial Officer Alan B. Graf, along with the Reforming America’s Taxes Equitably (RATE) Coalition, today commended House Ways and Means Committee Chairman Dave Camp on his proposal to overhaul the antiquated U.S. tax code, including lowering the corporate income tax rate.
The RATE Coalition believes the distorted and arcane U.S. tax code, with its 39% corporate income tax rate -- the highest in the industrialized world -- harms the ability of American companies to invest, hire and grow in the U.S. and around the world. While the U.S. stands in place, at least 25 other developed countries have reduced their corporate tax rates in the last several years, including our largest trading partner, Canada, now at 25%, the United Kingdom, at 21%, and the world’s second-largest economy, China, also at 25%.
Chairman Camp’s proposed legislation aims to increase jobs and investment in the United States by lowering the federal corporate tax rate to 25 percent on a revenue-neutral basis via an expansion of the corporate tax base. FedEx and the RATE Coalition encourage additional dialogue among policymakers to find the best way to modernize our tax code and ensure we remain competitive and grow our economy over the long term.
For more: http://ratecoalition.com/wp-content/uploads/2014/04/RATE-CFO-Letter-04-03-14.pdf