New AIM Website Makes Case for IP Box PolicyJuly 5, 2016
WASHINGTON, DC – American Innovation Matters (AIM), a coalition of businesses pushing for the United States to adopt an IP Box tax policy, today launched a new website – www.ipbox4jobs.com. The website is a useful resource that underlies the problems with our current tax code, new threats to the U.S. tax base, and reasons for tax reform that includes an IP Box policy.
“More than a dozen countries have adopted IP Box policies, which help attract and retain intellectual property along with the R&D, jobs and earnings it creates. This new website, www.ipbox4jobs.com, will be an effective tool in explaining why the United States needs to adopt an IP Box before we lose more innovative companies and good-paying jobs to our overseas competitors,” said Jim Morrell, spokesperson for AIM.
Recognizing that intellectual property is highly mobile, a growing number of countries are adopting IP Box policies. These policies put American companies under immense pressure for inversions and foreign takeovers. This pressure is being compounded by the United States’ broken domestic tax code and widespread global acceptance of the OECD’s Base Erosion and Profit Shifting (BEPS) plan. Under BEPS, many countries with IP Boxes are now enacting new restrictions designed to lure American IP and jobs overseas.
Tax reform that includes an IP Box – a lower tax rate on intellectual property – would keep critical American jobs, research and development, and earnings in the United States. An IP Box also would protect our nation’s domestic tax base and allow our biggest innovators to continue to grow and compete globally.
“An IP Box is important to many parts of our economy including the manufacturing, biopharma and technology sectors, and to the American workers whose jobs depend on where intellectual property is housed and utilized. In the coming months, AIM will continue to educate the public and policymakers about the need to protect American innovation and jobs through an IP Box policy,” said Morrell.
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Contact: Laura Christof 571-414-0730
AIM’s membership includes Cisco, Boeing, Biogen, Intel, S&P Global, Oracle, Facebook and other companies whose strong investments in R&D and innovation help create new jobs and spur economic growth.