The Honorable Max Baucus
United States Senate
511 Hart Senate Office Building
Washington, DC 20510-2602
Dear Senator Baucus:
The undersigned business associations represent millions of individuals and businesses and we urge you to oppose any attempts to increase the tax burden on U.S. businesses before the end of the year.
During this time of widespread economic uncertainty, proposals to increase taxes on U.S. companies – including small businesses, domestic companies, worldwide American companies and U.S. subsidiaries of companies headquartered abroad – could have significant negative repercussions for the struggling American economy. Given the urgent need for new private sector jobs, adding to the tax burden would only undermine vital economic recovery efforts now underway throughout the country.
As nations around the world are eliminating barriers to economic growth and incentivizing investment within their borders, the United States is in danger of falling further behind as its tax system becomes comparatively less competitive. The U.S. corporate tax rate has risen to the second highest in the developed world. We believe Congress’ focus should target only those proposals that would create greater certainty and stability for the private sector to eliminate disincentives for job creation and investment.
Therefore, we ask you to put job creation at the very top of your legislative priorities and oppose any proposals that would make it more difficult for U.S. businesses to maintain their current payrolls or expand to help put more Americans back to work.
Alliance of Automobile Manufacturers
American Chemistry Council
American Gas Association
American Petroleum Institute
American Staffing Association
Association of Equipment Manufacturers
Association of International Automobile Manufacturers
AMT-The Association for Manufacturing Technology
Emergency Committee for American Trade (ECAT)
European-American Business Council
Financial Executives International Committee on Taxation
National Association of Manufacturers
National Foreign Trade Council
Organization for International Investment
U.S. Chamber of Commerce
U.S. Council for International Business