WASHINGTON: The Business Roundtable is launching a national campaign this week about tax reform, contending that modernizing the US tax system would enhance job creation and lead to a healthier economy.
The effort is called the “Campaign for Home Court Advantage,” playing off March Madness.
The organization feels that America's ability to compete in the global marketplace is undermined by a decades-old tax policy. The Business Roundtable launched a similar campaign last year, but this one will run for a longer period of time, said Tita Freeman, SVP of communications and public affairs at the organization.
“Last year, we recognized it was an election year and tax reform was likely not going to be a priority, but we wanted to raise visibility of the issue,” she said. “This year, we feel is ripe for change.”
The campaign's strategy, developed with the help of APCO Worldwide, uses traditional and digital media, events, and local outreach. On Wednesday, the day the president usually makes his March Madness picks, the Roundtable will take over the homepage of Politico.com with a tax-rate bracket of its own.
APCO won the business after a competitive pitch process. It is working with Washington-based public affairs firm Fratelli Group on the initiative.
The Business Roundtable contends that the US has the highest average combined corporate tax rate of any nation in the developed world, 14% higher than an average of international competitors.
The “Home Court Advantage” campaign urges the establishment of a competitive corporate rate and a transition to a more modern and competitive international tax system. The group's outreach will encourage members, suppliers, a network of state business roundtables, and employer allies across the US to push Congress and the Obama Administration to work together to pass comprehensive legislation.
Specifically, it is asking the federal government to stop doubling taxes on foreign earnings of US companies, reduce the corporate tax rate to 25%, and simplify the tax code, which was last overhauled in 1986.