VIEW THE LETTERS HERE:
U.S. Senator Mitch McConnell Letter
U.S. Senator Rand Paul Letter
Commerce Lexington Inc. has a long-standing position of supporting tax reform to improve Kentucky’s competitiveness, including lower corporate tax rates. We were pleased to see Congressman Andy Barr and the U.S. House of Representatives pass federal tax reform and encourage the Senate to continue to move forward with this critical issue.
In expectation of progress being made, the Kentucky business community believes that:
- A lower corporate tax rate would better allow U.S. businesses to compete in today’s globalized marketplace.
- The best means of achieving a more competitive tax system is through a reduction in the U.S. statutory corporate tax rate, currently the highest in the industrialized world.
- A lower corporate tax rate would benefit both domestic and multinational companies and would increase incentives to invest in the U.S., enhancing economic growth and benefitting American workers, consumers, and small businesses.
- A lower corporate tax rate will result in increased economic growth, but the Chamber recognizes budget responsibility and is willing to put all tax expenditures on the table to achieve a globally competitive rate.
- Further, we recognize small businesses, which are critical to Kentucky’s economy, are often organized as pass-through entities. We believe tax reform should also consider the tax burden of small businesses by simplifying the code and reducing costs to ensure small businesses do not incur a greater tax burden.