Tax policy not only helps drive competitiveness, but is an effective tool to support economic growth, promote job creation, and encourage innovation.
In the United States, policymakers should ensure that the U.S. maintains an internationally competitive tax system, including a competitive and fiscally responsible corporate tax rate. Policymakers must also leverage tax policy to promote growth in high-skilled, highly paid jobs, including by supporting innovation and technology manufacturing and making the U.S. a desirable destination for groundbreaking research and development activities and valuable intellectual property. Improving the competitiveness of U.S. tax policies helps enable the competitiveness of its economy as a whole.
Globally, multilateral and consensus-based approaches to address the tax implications of the increasing digitalization of the global economy are essential to ensuring a predictable and stable international tax system and certainty for businesses worldwide.