Washington,
D.C.
— TechNet, the national, bipartisan network of innovation
economy CEOs and senior executives, today commented on the introduction of tax
reform legislation in the U.S. House of Representatives.

The House Ways and Means Committee is
scheduled to consider the bill next week, and the Senate Finance Committee is
expected to introduce its legislation this month. The following statement can be attributed to
Linda Moore, President and CEO of TechNet:

“TechNet strongly supports meaningful reforms
to our tax code that will jumpstart our economy, usher in a wave of innovation
and investment, and make us more competitive on the global stage. We
thank Chairman Kevin Brady and his colleagues on the Ways and Means Committee for
their work in developing this legislation and kicking off the most important
phase of this debate.

“We are encouraged to see a commitment
in this bill to significantly lower the corporate tax rate, make it easier for
global businesses to bring back overseas earnings to invest here at home, promote
startups, preserve the R&D tax credit, and restore the Investment Tax
Credit. We will continue reviewing the details
of this bill closely and work to ensure we do everything possible to seize this
once-in-a-generation opportunity to modernize the tax code in a way that
supports innovation and investment in the United States.

“We look forward to next week’s
committee mark-up as an opportunity to improve the bill, particularly as it
relates to getting the territorial tax system right, creating more opportunities
for investment in the U.S., and measures that may affect innovators in the gig
and sharing economy.”