More than 500 Business Groups from Across the Country Call on Washington to Avoid the Largest Tax Increase in American History

WASHINGTON, D.C. - Today, the U.S. Chamber of Commerce led 529 chambers and associations-representing every sector of the U.S. economy and all 50 states-in calling on the next Congress and administration to prevent tax increases on American families and businesses and instead protect American paychecks by pursuing a pro-growth agenda that will foster capital investment, job creation, and higher wages.

Absent congressional action, American families, workers, and businesses will be hit with the largest tax increase in American history at the end of next year.

"While the impact of a massive tax increase on individual Americans is clear, it is critical for policymakers to understand that the expiration of many pro-growth business tax reforms from the 2017 Tax Cuts and Jobs Act (TCJA) also will dramatically increase costs for families and customers, harm main street businesses, reduce take-home pay for workers, and result in the loss of innovation and American jobs," said Neil Bradley, Executive Vice President and Chief Policy Officer at the U.S. Chamber of Commerce. "Pro-growth tax policy doesn't just grow the overall U.S. economy; it raises wages for American workers and improves standards of living. Maintaining and improving pro-growth tax policy ensures that the U.S. remains globally competitive, retaining and attracting businesses, jobs, investment, and innovation here at home."

This letter is the latest effort in the Chamber's comprehensive education and advocacy blitz in support of maintaining a pro-growth tax code that builds a robust economy that benefits all Americans

This summer, the Chamber put forth the Growth and Opportunity Imperative for America, a series of policy recommendations that will help the United States reach a goal of 3% annual real economic growth. The Chamber also unveiled a new resource for policymakers and candidates detailing how a pro-growth tax code benefits American workers, businesses, and the economy.

Recent polling from the Chamber shows a majority (80%) of voters are concerned that increasing taxes would result in higher prices and 93% believe American families and businesses are already paying enough in taxes.

Small businesses say that a competitive tax code means local economies grow and prosper, while workers across the country benefit from higher paychecks and more job opportunities.

###