The Wall Street Journal this morning surveys business associations for their views on the need and best approach for policies to stimulate economic growth: “Business Seeks Share of Stimulus.” Particularly relevant passage:
The National Association of Manufacturers is pressing for a reduction of the corporate capital-gains tax rate to 15% from 35%, as well as renewal of the R&D tax credit. “When you’re looking to create jobs and stimulate the economy, that’s one that would be helpful,” says Dorothy Coleman, NAM’s vice president of tax and domestic-economic policy.
We released our agenda for economic growth yesterday, our recommendations that would maximize the effectiveness of any quick policy action Congress moves on. They are:
“Moving forward, as outlined in NAM’s white paper, A 21st Century Tax Policy to Promote Job Creation and Economic Growth, there are a number of other tax law changes that policy makers should consider to promote U.S. jobs and competitiveness and ensure continued economic growth,” [NAM President] John Engler said. “In particular, we urge policy makers to consider our recommendation to reduce the corporate tax rate to 25 percent or lower. American businesses compete in a fiercely competitive global marketplace, and the more efficient and competitive we are, the healthier the U.S. economy.
You can find the white paper at www.nam.org/taxwhitepaper
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