Washington, D.C. – The American Bakers Association (ABA) commends White House and congressional leadership on taking the important first steps towards simplifying our U.S. Tax Code.
“Bakers are excited to see the White House and Congress take the initiative to reform our overly burdensome tax code,” said ABA President and CEO Robb MacKie. “Tax relief efforts dating back to the 1960's have always unleashed the incredible strength of our entrepreneurs, our innovators, and our companies,” added MacKie.
The baking industry is comprised of companies from large multi-billion-dollar international companies to small family-owned businesses. The elimination of the estate tax, coupled with the 20 percent corporate rate and two percent pass-through rate included in the framework, would help promote business growth and innovation.
“These much-needed reforms would boost the economy, open up capital for bakers seeking to improve facilities and hire more skilled workers, and provide government more resources for critical priorities. We urge Congress to pass this long overdue, common-sense package with bipartisan support by the end of the year,” added MacKie.
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About the American Bakers Association:
The American Bakers Association (ABA) is the Washington D.C.-based voice of the wholesale baking industry. Since 1897, ABA has represented the interests of bakers before the U.S. Congress, federal agencies, and international regulatory authorities. ABA advocates on behalf of more than 1,000 baking facilities and baking company suppliers. ABA members produce bread, rolls, crackers, bagels, sweet goods, tortillas and many other wholesome, nutritious, baked products for America’s families. The baking industry generates more than $153 billion in economic activity annually and employs more than 799,500 highly skilled people.
Source: American Bakers Association
