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1 Philip Bazel & Jack M. Mintz, Competitiveness Impact of Tax Reform for the United States 1 (2017)

handle is hein.taxfoundation/cvimtxrfus0001 and id is 1 raw text is: FISCAL FACT No. 546 Apr. 2017 Competitiveness Impact of Tax Reform for the United States Philip Bazel and Jack M. Mintz* School of Public Policy, University of Calgary The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and local levels. We are a 501(c)(3) non-profit organization. @2017 Tax Foundation Distributed under Creative Commons CC-BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 Key Findings: * Among 43 nations surveyed, the United States has the second highest statutory corporate income tax rate at 39.1 percent and is one of the few nations that has not reduced its statutory tax in the past seven years. * The U.S. tax burden on new investment, the marginal effective tax rate (METR), is fifth highest among the 43 nations at 34.8 percent. If bonus depreciation were made permanent the METR would be 27.3 percent. The average METR among developed nations is 19.2 percent. * Both the House GOP and President Trump have proposals that would greatly improve the competitiveness of the U.S. tax system by reforming the corporate income tax. * The House GOP proposal to convert the corporate income tax into a destination-based cash-flow tax would reduce the corporate income tax rate to 20 percent and the METR on new investment to 16.1 percent. * A proposal similar to that put forth by the Trump administration would reduce the statutory corporate tax rate to 15 percent and the METR on new investment in the United States to 21.4 percent. Research Associate and President's Fellow, respectively. Prepared for the Tax Foundation, Washington, D.C. We thank Duanjie Chen, who has played a critical role with the early analysis used in this paper. taxfoundation.org

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