July 27, 2017

CRANE Coalition: Joint Statement on Tax Reform Highlights Cost Recovery To Drive Economic Growth

 

Kevin Dempsey, Senior Vice President for Public Policy at the American Iron and Steel Institute and spokesman for the CRANE Coalition, issued the following statement about the joint tax reform announcement made today by House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY), Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch (R-UT), and House Ways and Means Committee Chairman Kevin Brady (R-TX):

 

“Today’s Joint Statement on Tax Reform significantly moves forward the process for reforming the tax code to promote capital investment, job creation and economic growth here at home.

 

“The shared tax reform principles of the House, Senate, Treasury Department and White House demonstrate the critical role that rapid cost recovery plays in promoting domestic investment. This public commitment also highlights the recognition that reducing or eliminating this powerful pro-growth tool, as some had previously proposed, would have been a short-sighted and ineffective effort to raise revenue.

 

“The CRANE coalition looks forward to working with the Trump Administration and Members of the House and Senate on both sides of the aisle who share this commitment to use rapid cost recovery in tax reform to create jobs by promoting domestic investment that grows our economy.”

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The Cost Recovery Advances the Nation’s Economy (CRANE) Coalition is made up of American companies and associations focused on preserving accelerated depreciation to provide the capital needed to continue driving America’s economic growth and job creation here at home.