A group of major American corporations have joined forces to demand an overhaul of the tax system.
RATE, which stands for “Reforming America’s Taxes Equitably,” was started last October when 13 companies came together to protest America’s high corporate tax rate. Led by Republican strategist James Pinkerton and former Bill Clinton aide Elaine Karmack, the RATE Coalition is pushing for what they call “sound and equitable reforms to the U.S. corporate tax code.”
The group’s spokesman, Jim Dyke, told The Daily Caller that RATE “was formed and continues to grow as a means to advocate for reform with lawmakers and the administration while educating the public about the facts surrounding the need for a reduction in the corporate rate.”
The U.S. has one of the highest statutory corporate tax rates in the world, and RATE argues that the burden imposed by those taxes makes America less competitive in the global economy. And their message seems to be catching on with America’s big businesses: as of January, RATE represents 25 corporations that together employ millions of Americans.
“RATE members and affiliated companies represent over 30 million employees in all 50 states and support innumerable numbers of suppliers and small businesses,” RATE said in a press release.
According to the press release, RATE’s members include: “AT&T, Altria Client Services Inc., Association of American Railroads, Boeing, Capital One, Cox Enterprises, CVS Caremark, FedEx, Ford, General Dynamics, Home Depot, Intel, Kimberly-Clark, Lockheed Martin, Macy’s, National Retail Federation, Nike, Raytheon, Texas Instruments, Time Warner Cable, T-Mobile, UPS, Verizon, Viacom and Walt Disney.”