News

A new U.S. Chamber of Commerce survey reveals overwhelming public support for making the 2017 Tax Cuts and Jobs Act (TCJA) permanent. Absent congressional action, most of the pro-growth reforms in the TCJA will expire at the end of this year and trigger the largest tax increase in American history. 

As Congress debates the future of federal tax policy, this new polling underscores that permanent tax relief is both smart policy and smart politics.

Majorities Support Making Tax Reforms Permanent

• By a nearly 3- to- 1 margin (64% to 20%), voters favor permanently extending the TCJA noting its ability to reduce and simplify the federal tax burden on families and businesses, stimulate economic growth, create jobs, and enhance the global competitiveness of American companies.  

• Support for permanent tax relief transcends partisan lines, with 81% of Republicans, 55% of Independents, and even a majority—53%—of Democrats backing the 2017 tax law.   

• This broad support can translate at the polls, as 65% of voters say they are more likely to support a candidate who votes to make the tax cuts permanent, compared with just 20% who would be less likely to do so. 

 

Strong Support for 2017 Tax Cuts and Jobs Act Business Components

• 75% support permanently restoring the deduction for R&D expenses.   

• 73% support making full capital expensing permanent. 

• 73% support keeping tax rates lower by making the 20% deduction for pass-through business income permanent.  

• 69% support permanently restoring a less-restrictive deduction for interest expenses. 

Voters Agree: Increasing Taxes Isn’t the Answer to Balancing the Budget or Reducing the Deficit 

• 78% believe the best way to balance the budget is by holding the line on taxes, cutting wasteful spending, and promoting pro-growth policies—rather than increasing taxes. 

Competitive, pro-growth tax policies drive economic growth and create new opportunities for American businesses and workers. Permanently extending the TCJA's pro-growth reforms will create more certainty and stability for businesses to plan, invest in, and grow both their operations and their headcounts.

The Chamber is leading a coalition of nearly 500 business organizations—representing all 50 states—in calling on Congress to adopt a current-policy baseline to deliver permanent tax relief to American families and employers.

 Learn more about the Chamber’s tax advocacy here.