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AFP Statement on President Obama’s Corporate Tax Framework

  • By Staff Writers
  • Published: 2012-02-23

The Association for Financial Professionals applauds the Obama Administration’s willingness to examine all options to reform our nation’s corporate tax code.  AFP strongly encourages White House staff to consider changes that would improve the competitiveness of the U.S. economy and American companies by taxing earnings, both foreign and domestic, at rates that are comparable to those of other developed nations.

A tax policy that continues to impose higher tax burdens on U.S. companies relative to their overseas competitors puts U.S. business at a significant disadvantage. Over time, this structural disadvantage will reduce investment, employment levels and profitability of American companies both domestically and internationally, as foreign companies exploit their lower tax burden to lower prices, capture market share and reinvest a larger portion of their profits into future growth.

In a global market where capital flows across national borders at the push of a button, capital will also gravitate toward those countries with lower corporate tax burdens, harming economic growth in the U.S. Therefore, AFP strongly encourages changes to the corporate tax system that will allow the U.S. economy as a whole, as well as American companies, to compete effectively in a global economy.

See also: AFP’s February 22 comment letter to the House Ways and Means Committee on its recent hearings regarding corporate tax and financial accounting. 

Copyright © 2014 Association for Financial Professionals, Inc.
All rights reserved.

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