The people working diligently to return Michigan to a Top Ten state for doing business are loudly applauding the federal government’s attempt to overhaul the American tax plan.
Business Leaders for Michigan today is lauding the House’s tax reform legislation, which includes a provision to lower the corporate tax rate.
Patrick Doyle, President & CEO of Domino’s Pizza is also Board Chair at Business Leaders for Michigan. He says, “The U.S. has the highest corporate tax rate in the world. Anything we can do to lower that rate will put dollars directly into the American economy and create new jobs.” Doyle adds, “We are very pleased to see the House bill include a corporate rate of 20 percent.”
Doug DeVos, chairs the federal issues committee at Business Leaders for Michigan. DeVos, who is President of Amway, concurs with Doyle’s assessment, saying, “We appreciate House Speaker Paul Ryan’s leadership and the bold action taken by Congressional leaders today in introducing this legislation.” DeVos adds, “While we still need to review the details of the bill, this is an important step and we look forward to working with members of Congress and the Administration to enact meaningful tax reform this year.”
During recent Congressional meetings in Washington, member companies from the Business Leaders for Michigan realm discussed the importance of reforming the corporate tax code for increased economic growth and capital investment in Michigan.
The group’s recommended federal tax reform policies would accomplish the following:
- Set the corporate tax rate at 25-percent or less.
- Eliminate additional taxation of U.S. corporate foreign earnings.
- Simplify and reform the federal corporate tax code in a fiscally responsible manner.
- Make tax reform permanent to support long-term business decisions and commitments that allow for capital investment.
Business Leaders for Michigan serves as the state’s business roundtable, and is dedicated to making Michigan a “Top Ten” state for jobs, personal income and a healthy economy. The organization is composed exclusively of the chairpersons, chief executive officers, or most senior executives of Michigan’s largest companies and universities. Their members drive nearly one-third of the state’s economy, provide 390,000 direct jobs in Michigan, generate over $1 Trillion in annual revenue and serve nearly half of all Michigan public university students. You can learn more online by clicking the link below:
