I’m writing to thank Sen. Chuck Grassley on his work on tax reform that will benefit all Iowans. Sen. Grassley’s leadership has given us a once-in-a-generation opportunity to provide tax relief to the middle class, make our corporate tax structure more competitive, foster growth, and encourage job creation.
That’s why I hope Congress opposes efforts to increase taxes on capital gains and resists the urge to move the needle toward higher capital gains taxes in other ways, like boosting taxes on carried interest capital gains.
Businesses cannot afford to take on the risk investment of having to pay more taxes than those who supplied the capital. Without the incentives from the carried interest capital gains tax, American businesses will have a harder time investing locally and creating new jobs.
As we move toward a more competitive tax structure, we need to make sure that we prioritize job creation, long-term business investments, and implementing tax policy that helps businesses thrive in Iowa.
As a leader on this issue in Washington, Iowans should thank Sen. Grassley for the opportunity before us to get our economy moving again and benefiting all Americans.
Chairman of the Johnson County Republicans