Architects balk at House tax reform proposal
WASHINGTON, D.C., - November 2, 2017 - The American Institute of Architects today expressed serious concerns about The Tax Cuts and Jobs Act (HR-1), the tax reform proposal unveiled today by House Ways and Means Committee Chairman Kevin Brady (R-TX).
The proposal excludes certain professional services companies from the lower 25 percent tax rate. It also eliminates tax incentives that support other vital public policy goals, including the preservation of our national architectural heritage and ensuring energy efficient buildings.
Please attribute the following statement to AIA 2017 President Thomas Vonier, FAIA:
"The House Ways & Means Committee proposal, as drafted, will unfairly damage the thousands of small and family-owned businesses that organize as pass-through entities. This includes the majority of U.S. architecture firms. It undercuts the design and construction sector's role as a primary catalyst of job growth in the American economy. The American Institute of Architects cannot support it as drafted.
"Any reform of the U.S. tax code should achieve three basic goals to ensure the long-term vitality of small business and the health, safety and welfare of our communities:
· Preserve tax policies that support and strengthen small businesses.
· Support innovative, economically vibrant, sustainable and resilient buildings and communities.
· Ensure fairness.
"We are prepared to work with the Committee and other Congressional members as this proposal makes its way through what must be an open and transparent legislative process. We are mobilizing our members across the country to make sure that their Congressional delegations know our views.
"Tax reform isn't just about abstract numbers; it has real impacts on small businesses and communities throughout the country. We will campaign for tax reforms that are aligned with our values and meet the needs of the American people."
About The American Institute of Architects
Founded in 1857, the American Institute of Architects consistently works to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through nearly 300 state and local chapters, the AIA advocates for public policies that promote economic vitality and public wellbeing. Members adhere to a code of ethics and conduct to ensure the highest professional standards. The AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation and world. Visit www.aia.org.