REACTION: Obama’s inconsistent budget
14 February 2012
Matthew Gilleard - ITR
President Barack Obama delivered his 2013 budget speech yesterday and despite not dealing with comprehensive reform of the tax code – proposals for which will come in the next few weeks – he reiterated the sentiments of his State of the Union address and called for ending tax breaks for companies that ship jobs overseas, replacing them with incentives for those companies that conversely bring jobs and investment to the US.
Some have welcomed Obama’s call for immediate action on a reduction of the corporate tax rate, while others feel the budget proposals are inconsistent with the President’s stated objectives. Read the reaction below.
The budget can be accessed here, and International Tax Review’s analysis can be found here.
REACTION
Jay Timmons, president and CEO of the National Association of Manufacturers
“The President’s tax proposals seem more focused on providing good campaign rhetoric than serious solutions.”
Hank Gutman, principal at KPMG, former chief of staff for the Joint Committee on Taxation, former deputy tax legislative counsel in the Treasury Department Office of Tax Policy
“The budget document does not present a comprehensive view of tax reform. It fails to state a target corporate rate and consequently provides no guidance as to what...
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