U.S. Rep. Keith Rothfus argues for lower corporate tax rates because our current rate “makes our country seem unfriendly to business and discourages job creation.” He also argues that lower tax rates “would bring more investors to America” (Nov. 16 Perspectives, “Why Tax Cuts? Why Now?”). Unfortunately, Mr. Rothfus appears to be ignorant of the facts. 

According to the 2017 World Investment Report of the United Nations Conference on Trade and Development, in 2016 the U.S. received $391 billion compared with $348 billion in 2015, becoming once again the largest foreign direct investment recipient in the world. The report goes on to say that the United States is the No. 1 prospective host economy for 2017-2019, ahead of China and India. 

Mr. Rothfus’ argument is also off the mark about the effective corporate tax rate. Those who argue that the 35 percent statutory rate makes us uncompetitive ignore the fact that the average rate actually paid is below 20 percent.

The tax bill now before Congress will do nothing to create jobs while, at the same time, hurting middle-class workers by eliminating deductions for state and local taxes and medical expenses, especially cruel to those stuck with high expenses and stagnant incomes.

BILL PRESUTTI JR.
South Fayette

First Published: November 22, 2017, 5:00 a.m.