Joint Letter Request to Congress for Tax Reform
Summary
SIFMA filed a joint letter to the Member of the United States Congress, urging them to expeditiously pass a budget resolution with reconciliation instructions so that the promise of tax reform can be made a reality. It has been 31 years since Congress last reformed the tax code. Since then, the code has become an anchor weighing down the economy, job creation, and wage growth for American families.
Excerpt
September 28, 2017
TO THE MEMBERS OF THE UNITED STATES CONGRESS:
We urge Congress to expeditiously pass a budget resolution with reconciliation instructions so that the promise of tax reform can be made a reality.
It has been 31 years since Congress last reformed the tax code. Since then, the code has become an anchor weighing down the economy, job creation, and wage growth for American families.
This Congress has a once-in-a-generation opportunity to fix the problem. Over the past several years, tremendous work has been done to prepare for this moment. In the 113th Congress the Ways and Means Committee conducted a comprehensive look at tax reform. Last year House Republicans released a Blueprint for reform. During the last Congress, the Senate Finance Committee convened bi-partisan working groups that tackled all the major aspects of reform.
President Trump has outlined his goals for reform, and the “Group of Six” – consisting of members from the House, Senate, and Administration – has presented a framework to guide the drafting and markup of legislation in the Ways and Means and Finance Committees.
While much work remains to be done, we believe Congress is well-positioned to move forward with comprehensive, pro-growth tax reform.
The single-most important next step is for Congress to adopt a budget resolution with reconciliation instructions that will permit tax reform to move forward without the threat of a filibuster.
Just like Members of Congress, each of our organizations will continue to advocate for specific priorities within tax reform as the relevant committees and ultimately the full House and Senate consider tax reform legislation.
But failing to pass a budget resolution now may mean that tax reform never moves forward. That outcome is unacceptable to all of us and ought to be unacceptable to every Member of Congress who has advocated for reform.
Sincerely,