The National Restaurant Association announced its participation in a new group called the Coalition for Fair Effective Tax Rates, a diverse group of organizations joined to advocate for tax reform through fair effective tax rates, the amount of tax that businesses actually pay.
In addition to the nearly 500,000 restaurant locations represented by the National Restaurant Association, the Coalition’s members include a wide range of nearly 500,000 additional businesses – including small business owners paying individual tax rates as well as large corporations paying corporate rates. The groups are unified by agreement that the federal tax code needs to be overhauled, and comprehensive reform is needed.
“In order to spur job creation and economic growth throughout the economy and the restaurant industry, there needs to be a focus on an equal treatment of businesses under the tax code,” said Scott DeFife, Executive Vice President of Policy and Government Affairs for the National Restaurant Association. “By eliminating tax preferences, lawmakers would have the opportunity to lower corporate and individual tax rates and promote more robust economic growth.”
Coalition members plan to encourage Administration officials and members of Congress to use effective tax rates as a leading metric as tax reform develops on Capitol Hill. The Coalition hopes effective-tax-rate comparisons will bolster legislation that broadens the tax base while lowering rates for corporations as well as pass-through businesses.
The Coalition does not plan to take positions on specific tax provisions, but will concentrate on the benefits of viewing tax reform through the lens of effective tax rates with the goal of creating a fair, neutral playing field across all industries and business sectors.
The National Federation of Independent Business and the Retail Industry Leaders Association co-chair the Coalition. A full listing of the group’s membership and more information about the coalition can be found on the group’s website: http://www.FairEffectiveTaxRates.com