Tax Reform Can Boost US Economy

The American electorate is more than ready for Washington officials to enact policies that will spur greater economic growth and modernize a convoluted tax code last revamped in 1986. Changing the code to put the US on equal footing with global competitors by reducing the corporate tax rate from 35% is the best and most immediate way to do so, Yahoo reported. An overhaul would also help in bringing overseas money back home, generating lasting certainty and creating parity among all sectors of the economy–energy, telecommunications, manufacturing and the transportation sector. As Congressman Kevin Brady of Texas, the lead tax writer in the US House of Representatives, has said, the current code is no longer defensible. But neither is inaction, which is why a large contingent of the business community is increasingly united on this front—willing to put all tax expenditures on the table—and why US industry is making the sale to the American public.