During the 2012 presidential campaign, we were encouraged to learn that President Obama agrees that the current 35 percent corporate tax rate needs to be lowered. Put simply, the current corporate tax rate is unsustainable and bad for the U.S. economy. Among the highest in the industrial world, our present corporate tax rate reduces the ability of businesses of all sizes to compete in the global economy and to invest and create jobs.
We support legislation that allows businesses, along with their employees, to grow and prosper and will continue to encourage both parties to pursue corporate tax reform. We will encourage members of Congress and President Obama to stay true to his word and take action to lower the corporate tax rate.