U.S. tax system is complex, a drag on economic growth and hinders U.S. global
competitiveness. NEMA supports a tax system that is fair, transparent, easily
understood and that allows U.S. industry to be more competitive. A tax
code that encourages growth is predictable, efficient, has rates comparable to
those of other advanced economies, and is assessed on a territorial basis. A
long-term solution such as this would be simpler, have lower compliance costs,
and encourage—rather than tacitly penalize—work, investment, research and
development, and job creation.