1 | House Memorial |
2 | A memorial to the Congress of the United States, |
3 | urging Congress to cut the federal corporate tax rate. |
4 |
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5 | WHEREAS, it is the mission of the American Legislative |
6 | Exchange Council to advance Jeffersonian principles of free |
7 | markets, limited government, federalism, and individual liberty, |
8 | and |
9 | WHEREAS, the combined United States average federal-state |
10 | corporate income tax rate is over 39 percent, according to the |
11 | Organization for Economic Cooperation & Development (OECD), |
12 | meaning the United States imposes the second-highest overall |
13 | statutory corporate tax rates in the industrialized world, much |
14 | higher than the OECD average of 25 percent, and |
15 | WHEREAS, effective United States corporate tax rates are |
16 | out of step with the rest of the world, with studies estimating |
17 | the United States tax is between 4 and 17 percentage points |
18 | higher than the averages of other countries, according to a Tax |
19 | Foundation survey, and |
20 | WHEREAS, the federal corporate tax rate of 35 percent |
21 | undermines the ability of every state in the nation to compete |
22 | against lower-tax nations such as Canada, China, Great Britain, |
23 | Ireland, Korea, and Singapore, and |
24 | WHEREAS, 75 nations have cut their corporate taxes since |
25 | 2007, making it increasingly difficult for the United States to |
26 | attract new business investment and jobs, and |
27 | WHEREAS, corporate taxes have been identified by the OECD |
28 | as the most harmful tax for long-term economic growth by |
29 | reducing investment, entrepreneurship, productivity, and wages, |
30 | and |
31 | WHEREAS, according to the United States Census Bureau, |
32 | federal corporate income tax collections in 2008 amounted to |
33 | over $2,000 for every American household, a tax that is borne by |
34 | every American in the form of lower wages, higher prices, or |
35 | lower dividends, and |
36 | WHEREAS, while many federal officials have identified |
37 | corporate tax competitiveness as a serious problem, the Federal |
38 | Government, as of yet, has no official policy regarding United |
39 | States tax competitiveness, NOW, THEREFORE, |
40 |
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41 | Be It Resolved by the Legislature of the State of Florida: |
42 |
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43 | That the Florida Legislature urges the United States |
44 | Congress to cut the federal corporate tax rate. |
45 | BE IT FURTHER RESOLVED that copies of this memorial be |
46 | dispatched to the President of the United States, to the |
47 | President of the United States Senate, to the Speaker of the |
48 | United States House of Representatives, and to each member of |
49 | the Florida delegation to the United States Congress. |