President Trump's signature on the bottom line of the new tax reform bill--cutting the corporate tax rate from 35% to 21%--drew more praise from inside the Beltway.
"President Trump and our hardworking members of Congress have made history with this critical tax reform legislation, and we could not be more pleased the president has signed this bill into law," said Consumer Technology Association President Gary Shapiro. "American entrepreneurs can now enjoy much-needed tax relief and savings as part of a revitalized and reinvigorated tax system. With a healthier approach to taxes, businesses of all sizes across the country will now be able to take advantage of additional economic opportunities, bringing our communities and our broader economy headlong into a brighter future."
“Modernizing America’s tax system will help ignite economic growth, make our businesses more competitive, add jobs and increase paychecks,” said Financial Services Roundtable CEO Tim Pawlenty. “This is a victory for American taxpayers, and we look forward to working with policymakers to further increase economic opportunity in communities across the country.”
“CTIA and the wireless industry applaud President Trump and Congress for their leadership in securing comprehensive tax reform for the American economy," said CTIA President Meredith Attwell Baker [CTIA represents wireless providers], who recently re-upped with the association. "These significant reforms will spur the U.S. wireless industry to invest hundreds of billions of dollars in new mobile networks and create well-paying jobs that will broaden our nation’s economic growth and prosperity.”
So far, at least three communications companies, including CTIA member AT&T--have announced $1,000 holiday bonuses to the rank and file.
RELATED: Media Groups, Companies Applaud Tax Reform Bill Passage
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Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.