ARSA Urges House Ways & Means Committee to Simplify Tax Code
Aviation maintenance companies need a simpler tax code and greater tax certainty to continue to grow and create jobs ARSA told the U.S. House of Representatives Committee on Ways & Means.
In its comments to the committee’s Small Business Tax Reform Working Group, ARSA Vice President of Legislative Affairs Daniel Fisher laid out four key policy priorities for lawmakers to consider when drafting comprehensive tax reform legislation:
- Restoring certainty and simplification to the tax code so that resources utilized for retaining tax attorneys and accountants could be used to invest and hire more workers.
- Proceeding simultaneously on corporate and pass-through tax reform to ensure all businesses benefit from improvements to the Internal Revenue Code.
- Increasing Sec. 179 expensing and phase out levels to encourage capital investment.
- Repealing the estate tax so ARSA’s family-owned member companies aren’t forced to incur significant estate planning and insurance costs, allowing financial resources to be better used to invest and hire employees.
“I commend the Ways & Means Committee for allowing the public to be a part of the comprehensive tax reform debate,” said Fisher. “ARSA looks forward to working with Congress to restore long-term certainty and simplification to the tax code and pursue pro-growth tax policies to encourage job creation, economic growth, business risk-taking, and investment.”
ARSA’s comments will be included in a Joint Committee on Taxation report, which will be delivered to the Committee on Ways & Means on May 6. More information about the Committee on Ways & Means’ small business reform efforts can be found at http://waysandmeans.house.gov/taxreform/.