Governor Kay Ivey on Thursday announced she has joined fellow Republican governors in sending a letter to House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell, urging Congress to pass tax reform legislation.
“President Trump is proposing the largest tax cut for American families and businesses in decades,” Ivey said. “The current tax structure is oppressive to families and businesses alike, and it simply sets us up for failure in today’s global economy. We’ve proven in Alabama, with the lowest unemployment rate in history, lower taxes and less government regulation produces jobs – it’s time Washington joins us in our efforts.”
The letter, signed by Ivey and 21 of Republican gubernatorial colleagues, urges both chambers of Congress to accomplish comprehensive tax reform on behalf of all Americans. According to Ivey, our nation’s tax code is outdated and in desperate need of reform. The current corporate tax rate of 39 percent is the highest among industrialized nations and puts American workers and businesses at a major competitive disadvantage.
“Tax reform is good for families, businesses and for our country,” Ivey concluded. “Cutting and simplifying taxes is the right thing to do for all Americans, and it is certainly right for Alabama. Thriving small and midsize businesses are essential to spur economic growth and to create new jobs. We need a tax code that propels businesses to success rather than punishing them for their success.”
Ivey urged Congress to enact tax policies which encourage businesses to return to the United States, as well as policies which will remove burdensome regulations, resulting in businesses investing in their employees, through higher wages, and in growth to their bottom lines.