L – R Heather Dlhopolsky Chair-Elect; Senator Cardin, Clyde Garrett Chair
I attended an interesting lunch today at The Bethesda-Chevy Chase Chamber of Commerce. Senator Ben Cardin spoke to a group of 30 of us about his tax plan to lower corporate income taxes to increase overall US competitiveness and bring corporations (and their tax revenue back to the US). The Senator’s bill, called the Progressive Consumption Tax Act (PCTA), changes the way the federal government raises revenue. Rather than taxing income, this plan would generate revenue by taxing the purchase of goods and services. In describing his plan the Senator said “Our tax code should be fair to families and employers. It should help make American based businesses more competitive and our Nation’s economy stronger. And it should provide a way to responsibly and reliably collect reasonable revenues. Our current, 1980’s style tax code simply cannot accomplish these goals.” Whether one agrees with the Senator or not it is certainly an interesting concept and worth discussing particularly in light of today’s badly broken system.
