The National Marine Manufacturers Association submitted comments this week to the Senate Finance Committee’s Business Income Tax working group outlining goals for tax reform during the 114th Congress.
Earlier this spring, the committee put out a request for stakeholders to participate in this effort before Tax Day.
The committee is expected to unveil policy recommendations next month, laying a foundation for tax reform to potentially take place later this year, according to the NMMA newsletter Currents.
The NMMA’s comments called on the committee to lower corporate tax rates to align more closely with other developed nations while ensuring that benefit programs remain for companies to continue to invest in new technologies, employees and their communities.
The NMMA said it is working closely with numerous other associations and coalitions to achieve a more balanced, fair and effective tax code for businesses and individuals alike.