Florida Senate - 2012                                    SM 1038
       
       
       
       By Senator Evers
       
       
       
       
       2-00972A-12                                           20121038__
    1                           Senate Memorial                         
    2         A memorial to the Congress of the United States,
    3         urging Congress to cut the federal corporate tax rate.
    4  
    5         WHEREAS, the combined United States average federal-state
    6  corporate income tax rate is more than 39 percent, according to
    7  the Organization for Economic Cooperation & Development (OECD),
    8  meaning the United States imposes the second-highest overall
    9  statutory corporate tax rates in the industrialized world, much
   10  higher than the OECD average of 25 percent, and
   11         WHEREAS, effective United States corporate tax rates are
   12  out of step with the rest of the world, with studies estimating
   13  the United States tax is between 4 and 17 percentage points
   14  higher than the averages of other countries, according to a Tax
   15  Foundation survey, and
   16         WHEREAS, the federal corporate tax rate of 35 percent
   17  undermines the ability of every state in the nation to compete
   18  against lower-tax nations such as Canada, China, Great Britain,
   19  Ireland, Korea, and Singapore, and
   20         WHEREAS, 75 nations have cut their corporate taxes since
   21  2007, making it increasingly difficult for the United States to
   22  attract new business investment and jobs, and
   23         WHEREAS, corporate taxes have been identified by the OECD
   24  as the most harmful tax for long-term economic growth by
   25  reducing investment, entrepreneurship, productivity, and wages,
   26  and
   27         WHEREAS, according to the United States Census Bureau,
   28  federal corporate income tax collections in 2008 amounted to
   29  over $2,000 for every American household, a tax that is borne by
   30  every American in the form of lower wages, higher prices, or
   31  lower dividends, and
   32         WHEREAS, while many federal officials have identified
   33  corporate tax competitiveness as a serious problem, the Federal
   34  Government, as of yet, has no official policy regarding United
   35  States tax competitiveness, NOW, THEREFORE,
   36  
   37  Be It Resolved by the Legislature of the State of Florida:
   38  
   39         That the Florida Legislature urges the United States
   40  Congress to cut the federal corporate tax rate.
   41         BE IT FURTHER RESOLVED that copies of this memorial be
   42  dispatched to the President of the United States, to the
   43  President of the United States Senate, to the Speaker of the
   44  United States House of Representatives, and to each member of
   45  the Florida delegation to the United States Congress.