ACA Writes to Senators on Exports
In 2010 ACA wrote a strongly worded letter to Senators on the Senate Finance Subcommittee on International Trade, Customs and Global Competitiveness, other members of Congress and the Administration on how to encourage exports. For a full copy of the letter, click here .
To meet President Obama’s goal of doubling exports in five years, Congress should draft an “Export Encouragement Act” to encourage domestic manufacturing and incite U.S. companies towards import substitution and export promotion, by lowering U.S. corporate tax rates to internationally competitive levels while eliminating the multitude of special tax breaks for particular industries, thereby remaining tax neutral. The “Export Encouragement Act” should also adapt current tax policies so as to eliminate major roadblocks to exporting.
ACA has continued to advocate for greater competitiveness through tax reform on Overseas Americans. The House Ways and Means Committee concurs with ACA's position that a move towards territorial taxation will make the US more competitive and will increase exports.