Why Protecting Competitive Tax Rates Matters for You
An urgent call from 500+ chambers and associations to prevent a massive tax hike.
When debates about tax policy happen, they can seem distant from daily life. Yet, the decisions made in Washington, DC, can directly affect every family and business in your community.
What’s happening: Over 500 state and local chambers of commerce and national trade associations from—representing every sector of the U.S. economy and all 50 states—are urging the next Congress and administration to prevent a significant tax increase that could impact American families and businesses at the end of 2025.
How we got here: In 2017, pro-growth tax reforms were enacted to invigorate our economy, bringing significant benefits to families and local businesses nationwide. These changes sparked the emergence of new companies, fueled pay raises for workers, and opened job opportunities as employers reinvested in their communities.
Consequences of expired tax reforms: Without decisive action from the next Congress and administration, many of the benefits of the 2017 pro-growth tax reforms will vanish at the end of 2025; this means:
Businesses might face increased taxes, leading to potential job cuts, reduced wages, or even closures.
Families could experience decreased take-home pay, making managing everyday expenses like groceries, childcare, and gas challenging.
Communities may suffer as local businesses, the backbone of our towns and cities, struggle to survive, resulting in fewer jobs and less investment in local services.
Why it matters: This isn’t just economic theory; it’s about improving lives with more opportunities and a better quality of life. When tax policies support growth, they create more opportunities for everyone—more jobs, increased investment, and stronger communities.
Message to Washington: In their letter to Washington, chambers and trade associations across America are united in their call for tax policies that fuel growth and prosperity, and they caution against inaction:
"The expiration of many of these reforms will stunt economic growth, increase costs for families, harm main street businesses, reduce workers' take-home pay, and result in significant job losses."
"Maintaining a pro-growth tax code is essential to building a strong economy that benefits all Americans and ensures our nation remains a leader in global competitiveness and economic opportunity."
Bigger picture: This summer, the U.S. Chamber of Commerce launched the Growth and Opportunity Imperative for America, which calls on members of Congress and candidates to focus on economic growth that creates opportunities for all Americans.
Bottom line: The message is clear—to keep local economies thriving, we need a tax code that fuels growth, not hinders it. Making the right choices today, we can secure a future of opportunity, growth, and prosperity for every community.
