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ABOUT US

U.S. ON PACE TO RECOVERY

The Promote America’s Competitive Economy (PACE) coalition is dedicated to a robust economic recovery and long-term prosperity for all Americans. As the United States recovers from the COVID-19 pandemic, we must fight to remain a global leader in an increasingly competitive, international marketplace. We believe Congress should enact tax policies that help the United States keep pace with competitors like China and that promote U.S. economic growth and job creation through a competitive tax system. With recovery from the global pandemic still in its early stages, now is the worst time to increase the tax burden on job creators. We support policies that help American companies compete internationally so that they can invest in their workers back home.

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THE FACTS

WE PROMOTE AMERICA'S GLOBALLY COMPETITIVE ECONOMY

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“GILTI works effectively as a global minimum tax to deter profit shifting overseas. An increased GILTI tax rate would reduce American companies’ competitiveness versus foreign companies.” – Caroline L. Harris, U.S. Chamber of Commerce

According to analysis by the Bureau of Economic Analysis of the most recent data, employment, value added, and investment in plant and equipment of U.S. multinational companies grew faster in the U.S. than abroad in 2018, the first year following the 2017 tax act.

U.S. tax law does not encourage companies to invest abroad. U.S. companies invest abroad primarily to serve foreign markets – approximately 90% of all sales from the foreign operations of U.S. companies are to foreign customers.

Facts About Tax and Tax Terms to Know

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