December 20, 2017

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Tech's biggest win of the year

By
Ina Fried
Axios Login

(This story originally appeared in Axios Login on December 20, 2017)

Tech has been at odds with Republicans all year over issues like climate change and immigration. But the industry will notch a victory with the party's tax plan, Axios' David McCabe reports.

Industry groups were declaring success ahead of the Senate's passage of the bill early Wednesday morning.

  • In a letter to congressional leaders on Monday, the Information Technology Industry Council praised the package's lowering of the overall corporate tax rate and switch to a territorial tax system, among other changes.
  • "Reforming this tax code is long overdue, and we appreciate the leadership that Congress and the Administration have shown in moving this important issue forward," TechNet president Linda Moore said in a statement on Tuesday afternoon.

Our thought bubble: There's a fair amount the industry likes in this bill and it's a big reason why execs sat through meeting after meeting with Trump and his team even when the White House was at war with Silicon Valley.

What's next? The House is expected to re-vote on the package (thanks to some procedural speed bumps) before sending it to the White House for President Trump's signature.

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