AIA backs tax reform effort

In a new letter to congressional leaders, a group of defense and aerospace executives say they support plans “to assemble and pass the first comprehensive reforms of our tax code since the mid-1980s.”

The letter, dated March 10, was spearheaded by the Aerospace Industries Association and signed by more than 110 executives, including Dennis Muilenburg, chief executive of Boeing, and Tom Kennedy, chief executive of Raytheon.

“We urge you to enact legislation that modernizes our tax system, allows America’s businesses to better compete in the global marketplace, and encourages job creation and innovation in the United States,” the letter says. “American A&D companies are facing increasing competition from international companies who have benefited from modernized tax systems while the United States has stood still.”

The document calls the current tax system “broken.”

“The United States needs a modern system which creates a level playing field with the rest of the world in order to locate jobs, manufacturing, and profits inside the United States,” the letter adds.