Now that Japan has dropped its corporate tax rate, effective April 1, the United States is officially the “world leader” with the highest corporate tax rate among developed nations. This dubious distinction makes America less competitive in global markets, further harming the anemic economic recovery. Today, the RATE Coalition is hosting a panel with elected officials, business leaders and academics at Ohio State University to discuss corporate tax rate reform.

U.S. Sen. Rob Portman (R-OH) and U.S. Rep. Pat Tiberi (OH-12) will join Professor William A. Raabe of the Fisher College of Business at Ohio State; Ohio Rep. John Adams; Tax Foundation President Scott Hodge; Abercrombie & Fitch Sr. Tax VP Everett Gallagher; and Time Warner Sr. VP and Chief Tax Officer Mark Schichtel to discuss comprehensive corporate tax reform and how to achieve this politically. The panel will be moderated by WBNS-10TV News Anchor Jerry Revish. RATE Co-Chairs James Pinkerton and Elaine Kamarck will also participate in the event.

The RATE Coalition Co-chairs released the following statements on the event:

“After April 1, America’s unfortunate 'leadership' in corporate taxation will inevitably lead to declining international competitiveness and increasing burdens on job creators,” said James Pinkerton, Co-Chair of the RATE Coalition and former White House domestic policy adviser to Presidents Ronald Reagan and George H.W. Bush. “Our corporate tax code, which is currently the world’s highest at 35 percent, will deter companies with much-needed capital from investing in America and instead they will invest and hire abroad, shifting U.S. jobs overseas.”

“Policymakers in both parties have made it clear that corporate tax reform must be a priority for Congress and the administration,” said Elaine Kamarck, RATE Co-Chair and former member of the Clinton-Gore Administration. “We should be encouraged that a bipartisan consensus is forming around the proposition that corporate tax reform is an important part of the economic recovery. As we pull out of a long and jobless recovery anything that can be done to promote growth should be done and soon, even if it means going against conventional wisdom and legislating in an election year.”