Linda Moore President and CEO at TechNet | Official website
TechNet, a national network of CEOs and senior executives from the innovation economy, has addressed Congress in a letter regarding the ongoing budget reconciliation process. The organization is urging lawmakers to focus on policies that enhance innovation, economic growth, and the global competitiveness of American businesses.
Linda Moore, TechNet's CEO, stated: "As Congress considers tax reform in the ongoing budget reconciliation process, it is important to prioritize U.S. tax policies that support innovation, spur economic growth, and strengthen the global competitiveness of American businesses." She emphasized the need for improvements in the tax system to better serve businesses, workers, and consumers by maintaining a competitive corporate tax rate and supporting startups.
The letter outlines several key priorities for tax policy. These include maintaining the current 21% corporate tax rate and preserving existing provisions for Qualified Small Business Stock. It also calls for reinstating research and development deductions in their incurred year and extending investment credits under the CHIPS and Science Act. Additionally, TechNet advocates for reinstating a $20,000 threshold for 1099-K reporting.
The full text of TechNet's letter can be accessed online.
