Pro-growth tax policy that boosts GDP, jobs, and wages should be a legislative priority at any time but has taken on an added importance as policymakers look to help businesses and workers return to the economic gains of the pre-COVID U.S. economy.
April 16, 2021
The Honorable Ron Wyden
Chairman
Senate Committee on Finance
219 Dirksen Senate Office Building
Washington, D.C. 20510
The Honorable Richard Neal
Chairman
House Committee on Ways and Means
1102 Longworth House Office Building
Washington, D.C. 20515
The Honorable Mike Crapo
Ranking Member
Senate Committee on Finance
219 Dirksen Senate Office Building
Washington, D.C. 20510
The Honorable Kevin Brady
Ranking Member
House Committee on Ways and Means
1139 Longworth House Office Building
Washington, D.C. 20515
Dear Chairman Wyden, Chairman Neal, Ranking Member Crapo, and Ranking Member Brady:
On behalf of the undersigned taxpayer, free-market, and consumer advocacy organizations, we ask you to prioritize and pass a number of tax relief measures this year that will aid in America’s economic recovery from the COVID-19 pandemic. Pro-growth tax policy that boosts GDP, jobs, and wages should be a legislative priority at any time but has taken on an added importance as policymakers look to help businesses and workers return to the economic gains of the pre-COVID U.S. economy.
Specifically, we hope your Committees and Congressional leadership will prioritize the following this year:
If Congress accomplishes all three of the above initiatives, they could spur significant growth in the U.S. economy, jobs, and wages, at just the time businesses need additional confidence to invest in the American recovery from COVID-19. Should your Committees be interested in advancing any of the above, we would be pleased to work with you and other champions in Congress to ensure these bills are signed into law in 2021. Thank you for your consideration.
Sincerely,
National Taxpayers Union
60 Plus Association
Association of Mature American Citizens Action
American Consumer Institute
Americans for a Balanced Budget
Americans for Prosperity
Americans for Tax Reform
Center for a Free Economy
Center for Freedom and Prosperity
Center for Individual Freedom
Center for Innovation and Free Enterprise
Competitive Enterprise Institute
Consumer Action for a Strong Economy
Council for Citizens Against Government Waste
Freedom Works
The Heartland Institute
Hispanic Leadership Fund
Independent Women’s Forum
Independent Women’s Voice
Institute for Liberty
Institute for Policy Innovation
R Street Institute
Taxpayers Protection Alliance
CC: Members of the Senate Committee on Finance
Members of the House Committee on Ways and Means
The Honorable Charles Schumer, Majority Leader of the Senate
The Honorable Nancy Pelosi, Speaker of the House of Representatives
The Honorable Mitch McConnell, Minority Leader of the Senate
The Honorable Kevin McCarthy, Minority Leader of the House of Representatives
1 See Table 4.−Bonus Depreciation by Industrial Sector, 2017 in: Joint Committee on Taxation. (March 12, 2021). “Tax Incentives for Domestic Manufacturing.” Retrieved from: https://www.jct.gov/publications/2021/jcx-15-21/.
2 See Table 6.−Bonus Depreciation by Size of Business Receipts, 2017 in: Joint Committee on Taxation. (March 12, 2021). “Tax Incentives for Domestic Manufacturing.” Retrieved from: https://www.jct.gov/publications/2021/jcx-15-21/.
3 Congress.gov. (Introduced February 13, 2020). “S. 3296 – ALIGN Act.” Retrieved from: https://www.congress.gov/bill/116th-congress/senate-bill/3296/text (Accessed March 25, 2021.)
4 Congress.gov. (Introduced May 12, 2020). “H.R. 6802 – ALIGN Act.” Retrieved from: https://www.congress.gov/bill/116th-congress/house-bill/6802/text (Accessed March 25, 2021.)
5 Joint Committee on Taxation. (March 12, 2021). “Tax Incentives for Domestic Manufacturing.” Retrieved from: https://www.jct.gov/publications/2021/jcx-15-21/.
6 Congress.gov. (Introduced February 24, 2021). “H.R.1304 – To amend the Internal Revenue Code of 1986 to restore the deduction for research and experimental expenditures.” Retrieved from: https://www.congress.gov/bill/117th-congress/house-bill/1304/text (Accessed March 25, 2021.)
7 Congress.gov. (Introduced March 15, 2021). “S.749 – A bill to amend the Internal Revenue Code of 1986 to enhance tax benefits for research activities.” Retrieved from:
https://www.congress.gov/bill/117th-congress/senate-bill/749/text (Accessed March 25, 2021.)
8 Joint Committee on Taxation. (March 12, 2021). “Tax Incentives for Domestic Manufacturing.” Retrieved from: https://www.jct.gov/publications/2021/jcx-15-21/.
9 Joint Committee on Taxation. (March 9, 2021). “Estimated Revenue Effects Of H.R. 1319, The “American Rescue Plan Act Of 2021,” As Amended By The Senate, Scheduled For Consideration By The House Of Representatives.” Retrieved from: https://www.jct.gov/publications/2021/jcx-14-21/.
10 Senator Roy Blunt. (April 15, 2021). “Blunt, Portman, Lankford, Inhofe Introduce Legislation to Support U.S. Manufacturers.” Retrieved from: https://www.blunt.senate.gov/news/press-releases/blunt-portman-lankford-inhofe-introduce-legislation-to-support-us-manufacturers (Accessed April 16, 2021.)