SE Valley Times

A coalition of organizations has expressed support for extending tax policies they believe have positively impacted the economy. In a letter addressed to members of the United States Congress, these groups advocate for making the 2017 Tax Cuts and Jobs Act (TCJA) permanent. They argue that this move would stabilize businesses and families, citing benefits such as increased wages, job creation, and inflation resilience.

The letter emphasizes the importance of adopting a current-policy baseline to prevent a $4 trillion tax increase on American families and employers. "Adopting a current-policy baseline would avoid a $4 trillion dollar tax increase on American families and employers by creating a pathway for Congress to make the TCJA permanent," the coalition states. They further assert that this approach would not raise the deficit relative to current policy.

The coalition argues that making these tax provisions permanent will provide businesses with certainty, enabling long-term investments crucial for economic growth. "Doing so would provide businesses the certainty and stability they need to make the long-term investments that drive growth, accelerate productivity, and increase prosperity across all segments of the economy," they write.

They call on lawmakers to use their legislative tools wisely to foster economic growth while maintaining fiscal responsibility. "History shows that thoughtful tax policy can drive economic growth while improving fiscal responsibility," they note in their communication.

The letter is signed by numerous national organizations, including industry associations and chambers of commerce from various states across the country.