Washington,
D.C.
— TechNet, the national, bipartisan network of innovation
economy CEOs and senior executives, today announced its support for the
unified framework for tax reform unveiled today

that would modernize the U.S. tax code and spur innovation and investment in
the United States. The following
statement can be attributed to Linda Moore, President and CEO of TechNet:

“This tax reform plan would provide a
needed jolt to our economy and create a new wave of innovation and investment
in the United States.
It will serve notice to our
foreign competitors that America is stepping up its economic game by slashing the corporate tax rate and bringing
it in line with the rates of other developed nations. Just as important as lowering the corporate
tax rate, this plan would encourage businesses to invest $3 trillion in
overseas earnings here at home.

“We’ve known for years that our
nation’s tax system is broken and outdated.
The last time the corporate tax code was updated was in 1986, a time
when many of the companies that make up the innovation economy were in their
infancy or did not yet exist.

“This proposal represents a significant
chance to create more opportunities for more Americans and ensure that the
United States continues to lead the world in technological innovation. This framework would achieve this in part by
recognizing the importance of the research and development tax credit and
preserving it.

“Congress should seize this moment and
take up tax reform legislation as soon as possible. TechNet stands ready to work with the White
House and members of Congress on both sides of the aisle to see that this
proposal is improved, approved, and signed into law.”