The U.S. corporate tax of 35% had been the highest in the developed world. Even SYRIZA, the far left party governing in Greece, has kept their corporate rate lower. Actually, many countries decreased their rates in the aftermath of the last recession. Only the Obama Administration remained largely inactive, assuming companies would always want to do business in the U.S. This is what Trump has changed dramatically.
But does the world's most advanced economy actually need to compete by cutting taxes? Undeniably, there are other ways to strengthen the business environment, such as simplifying the tax code or limiting bureaucracy. Should this Committee back Trump's substantial tax reductions, which he is keen on extending further, or rather promote the alternatives?
There is a definite connection with the agenda of the Budget Committee, the Education and Labor Committee, and the Foreign Affairs Committee, examining various ways of strengthening the economy as well as advancing the prospects of the American people.
(Briefing Papers Available Soon)
Trump's presidency is marked by a grand reversal on combating climate change and renewable resources. He has championed the restoration of coal and oil mining to its former glory. Is the move towards fossil fuels making the U.S. economy great again or rather ruining the environment beyond repair?
The decision to withdraw from the Paris Agreement was meant to liberate American companies, but it rather seems to set China free to become the global leader in green technologies. And what role should nuclear energy have in the 21. century?
This links directly to the agenda of the Education and Labor Committee as well as the Foreign Affairs Committee, both considering the impacts of technological development and environmental cooperation in the future.
(Briefing Papers Available Soon)
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Recommended Committee Specific Research Materials follow:
Hearing - The Positive Economic Growth Effects of the Tax Cuts and Jobs Act
Hearing - Unleashing America's Economic Potential
World Economic Forum - Three countries are leading the renewable energy revolution
Foreign Policy - China Is Winning the Solar Space Race
Bloomberg - What's Really Warming the World?
(More Coming)