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Commentary: Reducing corporate tax rates can restore a prosperous America
0729John Engler
John Engler
Even as the country struggles with slow growth and high unemployment, America remains resilient, capable of tackling great challenges including the looming year-end “fiscal cliff” and the vast national debt.Success will require Congress and the administration to unleash the dynamism of the private sector, adopting policies that will result in the economic growth necessary to reduce our deficits and put our citizens back to work.Tax reform must be a priority.A serious short-term tax problem does loom. Unless Congress extends expired and expiring federal tax provisions, taxes could rise by $400 billion in 2013, threatening to drive the U.S. economy back into recession. Business Roundtable, an association of corporate CEOs, has urged Congress to extend the expiring and already expired individual and business tax provisions through the rest of next year.