Government Connection

Department of the Treasury Releases the Made in America Tax Plan Report

President Biden proposed the American Jobs Plan, a proposal aimed at increasing investment in infrastructure, the production of clean energy, the care economy, and other priorities. This report describes President Biden’s Made in America tax plan, which claims to make American companies and workers more competitive by eliminating incentives to offshore investment, substantially reducing profit shifting, countering tax competition on corporate rates, and providing tax preferences for clean energy production. These corporate tax increases would provide funding to pay for the Biden Administration’s $2.25 trillion U.S. infrastructure plan. However, GCCA has concerns that these potential tax increases could hinder economic growth and make members less competitive internationally.

Read the full report HERE.

April 15, 2021

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