Voters strongly oppose action to retroactively limit tax inversions, according to a new poll released today by the U.S. Chamber of Commerce’s “Fair Reform for Growth” campaign. The nationwide survey of likely voters, conducted by Purple Insights, also found that when it comes to changing U.S tax law, voters do not want the president to take any action unilaterally. Additionally, they overwhelmingly agree that Washington needs to do its part by reforming the tax code for the first time in nearly 30 years.
– 84% agree that companies shouldn’t be punished for following the law.
– Only 5% of voters said they would like to see the President take unilateral action to change tax laws.
– 87% think Washington needs to do its part by updating the tax code as American workers face global competition.
“Voters have made it clear that they want real, comprehensive tax reform, not election season grandstanding as U.S. companies seek to remain competitive in today’s global marketplace,” said Bruce Josten, executive vice president for Government Affairs at the U.S. Chamber. “Demagoguery and fragmented action aren’t going to protect American businesses or workers’ jobs.”
Recently, some leaders in Washington have suggested retroactive legislation on tax inversions, and the administration has threatened unilateral executive action. If implemented, this policy would punish American workers and businesses that have acted in complete compliance with the law.
Purple Insights conducted 1,000 interviews with 2014 likely voters nationwide from August 21-26, 2014. Seventy percent (70%) of the interviews were completed with voters on landlines and 30 percent (30%) were completed with voters on their cellphones. The margin of error is +/- 3.1%. The margin of error for subgroups is higher.
The polling memo is available here.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.