Washington, D.C (Nov. 2, 2017)—Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine issued the following statement on today’s release of House legislation to reform the nation’s tax code.
“ICBA remains strongly encouraged by the continued dedication of Congress and the Trump administration to passing pro-growth tax reform. We support lowering the marginal tax rates for businesses and individuals, and will comprehensively review the House tax plan released today and provide feedback to lawmakers.
“Meanwhile, ICBA and the nation’s community bankers remain focused on the priorities laid out in the ICBA Principles for Tax Reform white paper, such as strengthening the ‘pass-through’ model for Subchapter S institutions, preserving the business interest deduction, and promoting tax parity among all financial services providers, including tax-subsidized credit unions and Farm Credit System entities. These and other ICBA principles are essential to strengthening the community bank-small business partnership and thereby enhancing local economic growth and prosperity. Community banks provide half of all small business loans in the nation and are an outsized source of job creation and economic activity in the communities they serve.
“ICBA looks forward to continuing to work with Congress and the Trump administration on tax reform.
The Independent Community Bankers of America®, the nation’s voice for more than 5,700 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.