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Tax reform presents an opportunity to bolster U.S. middle class jobs

By Randy Mullett | 03/10/2014 | 7:21 AM

It’s a well-known fact that the United States has one of the highest nominal corporate income tax rates among the world’s developed countries—a fact that, in an increasingly global economy, puts us at a competitive disadvantage and incents investment abroad.

The good news is that there is bipartisan support for tax reform that would lower the nominal rate. And since that task will require some rebalancing within the tax code, it presents a parallel opportunity to support another bipartisan goal—strengthening the middle class.

Ever since its inception in 1909, the corporate tax code has been continually adjusted to encourage growth in particular sectors. Over time, this has unbalanced the playing field and created effective tax rates that vary widely from industry to industry. And just as varying nominal tax rates incent investment in certain countries over others, so too do the differences in effective tax rates channel the flow of domestic investment. The industries that benefit are able to grow, hire, and offer better wages.

Through tax reform, policy makers have a window of opportunity to rebalance the field. A code that not only lowers the corporate rate, but also supports investment in industries where middle-class jobs traditionally exist (trucking being one) could firmly shift our economy back into high gear.

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About Randy Mullett

Randy Mullett

C. Randal (Randy) Mullett is founder and principal of Mullett Strategies, LLC. Helping clients navigate the intricacies of Washington, DC, he focuses on transportation/freight policy, sustainability, security, and issue advocacy messaging. Prior to his current role, Mullett was vice president, government relations and public affairs, for XPO Logistics (previously Con-way Inc.) As a member of Con-way's Executive Leadership Team, he had responsibility for all government relations, corporate security, and public affairs activities including PR, corporate communication, brand management, social media, and corporate social responsibility. Additionally, he was Con-way's Chief Sustainability Officer and President of the Con-way Foundation.

Before going to Washington, he spent 25 years in LTL trucking operations and sales management. He served on the board of directors of the National Association of Manufacturers, The American Trucking Associations, The Cargo Airlines Association, The American Benefits Council, and the Intelligent Transportation Society of America. Additionally, he is a member of the USDOT's National Freight Advisory Committee and DHS's Highway and Motor Carrier Sector Coordinating Committee. A resident of Berryville, Va., Mr. Mullet holds a bachelor's degree from Shepherd University in Shepherdstown, W.V., and an MBA from Old Dominion University in Norfolk, Va.



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