The United States has the highest statutory corporate tax rate among developed countries....more
AISI supports tax policy that encourages manufacturing activity in the United States and increases the global competitiveness of domestic steel producers. Other nations have been lowering their corporate tax rates in order to encourage economic growth while the United States’ combined (federal plus state) tax rate is the highest in the developed world, at almost 40 percent. In addition to an overall reduction of the corporate tax rate, simplification of the tax code and a broadening of the tax base, capital investment is crucial for economic growth and job creation. Cost recovery systems, such as accelerated depreciation and full expensing, directly impact whether or not manufacturing companies will make new investments, and must be a central feature of any tax reform legislation.
Industry Position: AISI supports tax policy that encourages manufacturing activity in the United States and increases the global competitiveness of domestic steel producers. Congress should enact substantial reform to the tax code that includes a significant corporate rate reduction, accelerated cost recovery provisions to promote domestic capital investment, elimination of the corporate alternative minimum tax, and necessary and appropriate transition rules that allow companies to carry into any new tax system net operating losses and other tax assets they have accumulated under current law. More »
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4/20/2017 - AISI CEO and Steel Executives Meet with President Trump
The United States has the highest statutory corporate tax rate among developed countries.