Washington, D.C. – A coalition of over 40 national organizations representing millions of taxpayers, workers, and consumers has formally called on Congress to oppose any increase to the corporate tax rate above the 21% level established by the 2017 Tax Cuts and Jobs Act (TCJA). The coalition emphasized that raising the corporate tax rate would negatively impact economic growth, job creation, and wage levels while discouraging investment in the United States.

The TCJA successfully reduced America’s corporate tax rate to a globally competitive level, spurring domestic investment, economic expansion, and enhanced retirement savings for millions of Americans. The coalition highlighted research showing that a corporate tax increase would disproportionately harm low-income, younger, and female workers, as well as result in higher consumer costs and slower economic growth.

Read the full letter here.

Key Takeaways:

  • Economic and Worker Impact: Studies show corporate tax hikes reduce wages by 49 cents for every dollar increase and could cost millions of jobs while lowering GDP growth and productivity.
  • Global Competitiveness: Raising rates above the OECD average would discourage international investment, putting the U.S. at a disadvantage in the global market.
  • Tax Stability: A stable corporate tax environment supports business decision-making and long-term investment; volatile increases threaten innovation and economic resilience.

The coalition urges Congress to reject any proposals to raise the corporate tax rate and instead focus on policies that encourage growth, job creation, and wage increases. Preserving the gains achieved under the TCJA will ensure America remains a global leader in economic competitiveness and innovation.

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The American Consumer Institute is a nonprofit education and research organization. For more information about the Institute, visit www.TheAmericanConsumer.Org or follow us on Twitter (X) @ConsumerPal.

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