February 22, 2012

Washington, D.C. (February 22, 2012) – Today Dean Garfield, President and CEO of the Information Technology Industry Council (ITI), issued the following statement in response to President Obama's corporate tax reform proposal:

"American innovation drives job growth and economic strength.  Yet, America’s tax priorities, for too long, have failed to create markets and opportunities here at home that would benefit the American worker," Garfield said. "The Administration’s tax framework does not include the significant steps necessary to fix those underlying competitive challenges.  The framework would punish successful companies and push investments out of the United States."
"We stand ready to work with Congress and the Administration to create a tax structure that is smart, fair, and globally competitive.  Without question, the President deserves credit for recognizing that tax reform is urgently needed, and we appreciate his R&D tax incentives and focus on manufacturing.  But there are many other pieces that need to be part of corporate tax reform.  It should include a heavy dose of support for R&D, a move to a territorial system to encourage an inflow of capital to the United States, a reduction in rates, and ways to encourage repatriation of foreign-earned profits.  These commonsense steps can serve as the foundation of a 21st century tax code that promotes innovation, prosperity, and jobs."

About ITI
The Information Technology Industry Council (ITI) is the premier voice, advocate, and thought leader for the information and communications technology (ICT) industry. ITI is widely recognized as the tech industry's most effective advocacy organization in Washington D.C., and in various foreign capitals around the world.

Media Contact
Meghan Fletcher
(202) 524-4389