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CTA Statement on President Trump’s Tax Reform Proposal

Arlington, VA – April 26, 2017 – 
The following statement is attributed to Gary Shapiro, president and CEO, Consumer Technology Association (CTA), regarding President Trump's tax reform proposal to lower the corporate tax rate to 15 percent:

"We thank President Trump for thinking boldly on business tax reform. For far too long, our tax system has had an almost punitive effect on small and big businesses. Republicans, Democrats, and all sizes of businesses share an appetite for simplifying the tax code and increasing our nation's global competitiveness.

"We are also glad to see the plan doesn't include a border adjustment tax, which would cost American families an average of $1,700 and hurt small businesses. More, the lower repatriation tax rate will allow American companies to return money to the U.S., contribute to the U.S. Treasury and stimulate our economy.

"With these principles, Congress can move forward on a meaningful tax reform package that supports the innovation economy and brings our archaic system into the 21st century."