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Manufacturers Head to Hill to Ask for Tax Relief
U.S. lawmakers should level the playing field for U.S. companies competing in the global market by adopting reforms that reward investment in innovative technologies, AdvaMed President Stephen Ubl said in written testimony submitted for a Thursday House Ways & Means Committee hearing. “Simply lowering the overall tax rate — while very helpful — would not by itself create anything approaching parity,” Ubl said. He called for a territorial tax system that taxes domestic, but not foreign, income and a special reduced rate for advanced manufacturing.
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