Washington, D.C., July 27, 2017 – SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, regarding today’s tax reform announcement:

“SIFMA members are strongly in favor of federal tax reform, and we’re encouraged that Congress and the White House have today announced a serious plan to move the process forward.  Modernizing the Internal Revenue Code is critical to all Americans and has the potential to unleash unprecedented economic growth.  Our members recognize the need to address outdated business and international tax rules that are out of step with the tax regimes of our major trading partners.  SIFMA is committed to promoting policies that grow the economy while yielding a fair and competitive result for our members and the clients they serve.”

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SIFMA is the voice of the U.S. securities industry. We represent the broker-dealers, banks and asset managers whose nearly 1 million employees provide access to the capital markets, raising over $2.5 trillion for businesses and municipalities in the U.S., serving clients with over $18.5 trillion in assets and managing more than $67 trillion in assets for individual and institutional clients including mutual funds and retirement plans. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.