Business Community Unites to Advocate for Pro-Growth Tax Policy - U.S. Chamber of Commerce

Business Community Unites to Advocate for Pro-Growth Tax Policy - U.S. Chamber of Commerce

What’s happening: The U.S. Chamber of Commerce, alongside nearly 500 chambers and associations, sent a letter to Congress urging lawmakers to extend the pro-growth tax provisions of the 2017 Tax Cuts and Jobs Act (TCJA). The letter emphasizes the importance of adopting a current-policy budget baseline to prevent a $4 trillion tax increase and to create a pathway for making the TCJA permanent.

‌

Why it matters: The TCJA has been pivotal in raising wages, creating well-paying jobs, and helping families navigate inflation. Adopting a current-policy baseline would provide businesses with the stability needed to make long-term investments, driving economic growth and prosperity. Without action, American families and employers face the largest tax increase in history.

‌

Big picture: Extending the TCJA provisions permanently would ensure continued economic benefits, including higher wages, increased productivity, and robust job creation. It would also avoid unnecessary disruptions to businesses and families, fostering a stable environment for growth and innovation.

‌

Key takeaways:

• A current-policy baseline avoids a $4 trillion tax hike.
• Making the TCJA permanent provides stability for businesses and families.
• Pro-growth tax policies drive economic growth and improve fiscal responsibility.