We are almost five months into this new presidency and the nation is still waiting for tax reform. However, it appears that many people, including congressional lawmakers, are more worried about issues other than the country’s tax code. There are some, though, that want change, and they wanted it yesterday.
One of the country’s top CEOs says the time for tax reform is overdue, and it’s time to fix it now. JPMorgan CEO and chair of the Business Roundtable, Jamie Dimon, recently pleaded with lawmakers in Washington to get to work on fixing the country’s tax system and easing taxpayers’ burden.
According to Dimon, CEO confidence is at its highest point in the last three years, but that confidence is anchored in whether or not Congress is able to push through new tax reform. Both the President and Congress want change but so far they have done very little to move in that direction.
Meanwhile, the president and CEO of Business Roundtable, Joshua Bolton, says tax reform would greatly boost the possibility and probability for more investment. For his part Dimon claims that companies that invest in other countries with lower tax rates will reap the savings until the U.S. can fix its own tax situation.