*** MEDIA ADVISORY ***
Cardin to Discuss Groundbreaking Tax Reform Proposal with Maryland Business Leaders
Monday, February 23 at 11:00 AM, U.S. Senator Ben Cardin will discuss the details of his recently introduced tax reform package, which centers on a progressive consumption tax, with leaders of the Maryland business community. Cardin’s proposal represents a comprehensive overhaul of America’s outdated system of taxation and would eliminate income tax liability for most Americans. It also would reduce the corporate income tax rate to one of the lowest among industrialized nations. Cardin’s bill, S. 3005, the Progressive Consumption Tax Act, changes the way the federal government raises revenue. Rather than taxing income, a progressive consumption tax generates reasonable revenue by taxing the purchase of goods and services.
“Our tax code should be fair for families and employers. It should help make Maryland-based businesses more competitive and our nation’s economy stronger. And it should provide a way to responsibly and reliably collect reasonable revenues. Our current, 1980s-style tax code simply cannot accomplish these goals,” said Senator Cardin. “Credible tax reform is critical to America’s economic competitiveness.The Progressive Consumption Tax Act represents one clear path toward this goal. I look forward to exploring its merits with representatives from many of Maryland’s largest businesses and institutions, several of whom have built their success on similar outside-the-box thinking.”
WHAT: Roundtable Discussion on Progressive Consumption Tax
WHO: U.S. Senator Ben Cardin
Maryland Business Community Leaders
WHEN: Monday, February 23 @ 11:00 AM
WHERE: Maryland Chamber of Commerce, 60 West St., Annapolis, MD
HOW: Media please RSVP to tim_zink@cardin.senate.gov.