Tax Reform Will Unleash Growth
December 20, 2017
Statement by AIA President and CEO David F. Melcher welcoming
Congressional adoption of Comprehensive Tax Reform bill.
The Aerospace Industries Association welcomes Congressional adoption of the historic conference agreement on comprehensive tax reform. This legislation will unleash our industry’s global competitiveness and potential to create jobs for the American people.
AIA and its manufacturing allies have strongly advocated to reach this critical moment. It is the culmination of efforts by the Trump Administration and the Congress to create new conditions for stronger and sustained economic growth. Our industry is heartened to see both branches of government working together to modernize the tax code and to create an environment where Americans can thrive.
In particular, AIA is encouraged that our key principles – which we clearly and consistently have communicated to Congress throughout 2017 – of transition to a territorial system, incentives to encourage repatriation of overseas revenues, and a permanent reduction to a more internationally competitive 21% corporate rate, are firmly embedded in the final bill. Our key principles can be found on our website here.
The aerospace and defense industry is the heartbeat of the American economy, employing 2.4 million people in the United States – constituting fully 13% of the U.S. manufacturing base – and boasting a proven track record for creating more high-skill, high-wage jobs with the economic boost that only comprehensive tax reform can offer.