MSCI, Coalition Allies Send Letter To House Tax Reform Working Group Urging Comprehensive Tax Reform
Last week, the Coalition for Fair and Effective Tax Rates, a large coalition representing more than 1.5 million businesses that MSCI is part of, sent a letter to all members of the U.S. House Tax Reform Working Group urging them to lower tax rates for all businesses, no matter how they are organized.
The letter said, “We believe that tax rates must be lowered for both corporations and ‘pass-through’ entities that pay taxes using individual tax rates. We also strongly believe that disparities in effective tax rates – the amount businesses actually pay in taxes – must be reduced.” The letter called the imbalance in effective tax rates paid by different U.S. industries “enormous” and noted that “effective actual federal corporate tax rates paid between 2007 and 2010 ranged from 30.3 percent by construction firms, 29.4 percent by service companies and 27.9 percent by wholesaler-distributors and retailers to 17.7 percent by leasing companies and 14.5 percent by utilities.” The letter concluded, “The gap is too large to be ignored, and too large to be fair.”
Check the coalition’s website to read the full letter and to learn more about its efforts to ensure Congress passes a comprehensive tax reform bill that lowers rates for all types of businesses.