Tax reform is at the forefront of the economic policy debate in Washington right now.
When the Tax Reform Act of 1986 took effect, the U.S. became home to one of the lowest corporate tax rates in the world. Over the past 30 years, nearly every other country has lowered its rate, leaving the U.S. as a high-tax outlier. During that same time, the world economy has experienced significant change—from globalization to the rise of the internet and the proliferation of pass-through businesses. But our tax code has not kept pace.
Business leaders across the country have called for a tax system that is more equitable, efficient, and simple.