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Fed Up With Tax Stalemate, FedEx CEO Pushes Alternative Solution

Posted June 29, 2017

Under Economic Issues, International Trade Issues

(Matthew Townsend – Bloomberg)

FedEx Corp. Chief Executive Officer Fred Smith has spearheaded the creation of an alternative tax overhaul plan amid divisions in Washington over the proposals that Congress and President Donald Trump’s administration have offered.

Smith, also FedEx’s founder, has been directly involved in pitching his plan across corporate America as well as to the White House and congressional leaders, said Bobby Brown, the delivery company’s vice president of tax. FedEx decided to devise its own plan after the debate over the controversial border-adjusted tax on imports that House leaders favor bogged down the legislative process.

“We at FedEx, like many major U.S. companies, are concerned the window for tax reform is closing,” Smith said in an email. “Our current federal tax system is simply not globally competitive, retarding investment and the high paying jobs that follow.” Click here to read more.