Following passage of the Tax Cuts and Jobs Act, America became increasingly internationally competitive.
Before December 2017, the U.S. 35% corporate tax rate was the highest in the world. Higher even than China’s 25%. Our tax rate was higher than every major competitor.
The cornerstone of America’s new, more competitive tax system is the 21 percent corporate rate.
Every Democrat in the House and Senate opposed this tax reduction and they are now threatening to raise the corporate income tax as part of proposals to expand or create new government programs. Raising the 21 percent rate will harm today’s strong economic growth, growing wages, record job openings, and lower utility bills.
“Democrats view any tax rate hike from 21% to be a raid on a piggy bank — ‘free money.’ Taxpayers and taxpayer friendly elected officials now must defend 21 percent as a bright line in the sand that cannot be crossed,” said Grover Norquist, president of Americans for Tax Reform.
“If we fail to stop any and every effort to break the 21 percent ceiling, then every year there will be demands from special spending interests to raise the rate ‘just one or two points’ to fund ‘fill in the blank,’” said Norquist.
Americans for Tax Reform will officially launch “Defend21.org” in early 2019.