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The fix is in. Did you know, lobbyists in Washington, D.C. are already trying to influence key Republican lawmakers on tax reform? Corporate lobbyists know their special deals are on the chopping block, and the pressure is on.
Political analysts are calling the tax reform debate the “corporate Hunger Games.” Here’s why:
Republicans want to lower the corporate tax rate, which is currently the highest in the world. With control over the House, Senate and White House, the GOP has a once-in-a-generation opportunity to get this done.
To accomplish this goal without increasing the national deficit, lawmakers will have to close all the corporate loopholes, breaks, and carve-outs that make our current tax code look like a slice of Swiss cheese.
These reforms will be great for business… if your company is already playing by the rules. For special interests who are currently gaming the system, it could cost millions (or billions) of dollars.
The risk of losing sweetheart tax deals has corporations like General Electric (GE) shaking in their boots. According to the Boston Globe, a GE tax lobbyist already hosted a political fundraiser for House Speaker Paul Ryan on Nantucket. Coincidence? Probably not.
General Electric is so entrenched in the tax code, its “tax planning team” includes former employees from the Treasury, IRS, and congressional tax-writing committees. Nope, you read that right. GE hired the people who wrote the laws, to help them get around the laws.
No special interest group wants to sacrifice its loophole or carve-out for the good of the country, which means lobbyists aren’t going to let tax reform pass without a fight.
If grassroots activists don’t hold congressional Republicans accountable for tax reform, the lobbyists just might win.
The American people aren’t being heard by their government because the game is rigged. Washington isn’t broken. It’s “fixed.”