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… while Business organizations take stock of tax bill’s changes


Several national business organizations applauded passage of the tax bill as a win for their members, while others sharply criticized the bill for failing to carry out promised reforms. 

“The tax bill will help make American businesses of all sizes more competitive, add more jobs, and increase wages,” said Tim Pawlenty, CEO of the Financial Services Roundtable. “With a near 35 percent rate, the U.S. has one of the highest corporate tax rates in the industrialized world. This bill includes meaningful tax reforms that will help make America more economically competitive and increase opportunity for individuals and families.” 

The Main Street Alliance, a small-business coalition, blasted the bill. 

“Loaded with complex new loopholes and special interest kick-backs, this bill betrays the economic interests and wellbeing of everyday Americans, while lavishing outrageous, permanent benefits on big corporations and the wealthy,” National Director Amanda Ballantyne said in a release. “This unconscionable bill is not the tax reform that Main Street needs.”

The National Retail Federation called passage of the legislation “a major victory for retailers.” 

“Passage of tax reform is a major victory for retailers who currently pay the highest tax rate of any business sector, and for the millions of consumers they serve every single day,” Retail Federation President and CEO Matthew Shay said in a release. “Our priorities were clear: reform must jumpstart the economy, encourage companies to invest here in the United States, increase wages and expand opportunities for employees, and protect our small business community, of which the vast majority are retailers.” 

National Association of Manufacturers President and CEO Jay Timmons released this statement: 

“When this bill becomes law, manufacturers in America will be more competitive than they have been in decades. This is a win for the American economy, and it puts the world on notice: America is even better prepared to compete and win for every job and opportunity.” 

Timmons added: “Manufacturers do wish that some elements of the bill had been more pro-growth, and the NAM will continue working with Congress to improve on this foundation in the years to come.” 

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