New England Council Releases Tax Reform Principles
As our leaders in Congress consider reforms to our nation’s outdated and complicated tax code, The New England Council today released its “Principles for Effective Tax Reform,” a set of broad recommendations for how best to update and improve the federal tax code. The principles were developed based on input and feedback from a variety of NEC members representing a broad range of industries throughout the region.
“We believe that these principles represent the common concerns and recommendations of the region’s business community, and hope that they are helpful to leaders in Washington as tax reform proposals continue to take shape in the coming weeks and months,” NEC President & CEO Jim Brett said in releasing the principles.
In the principles, the Council encourages a comprehensive approach to tax reform that addresses both business and individual tax provisions at the same time. The Council also recommends that the tax code be simplified to minimize the burden on businesses, and that all provisions be permanent to provide certainty to businesses. Finally, the Council urges Congress to preserve and enhance incentives for Americans to save and invest in their futures, and to enact tax reform that will continue to encourage the innovation and investment that is so key to continued growth in New England. The New England Council has shared these principles with members of the New England Congressional delegation, other key Congressional leaders, and with the Trump Administration.