Independent Banker - November 2017 - 25

Grassroots
POLICY
Speaking up for what's right
It has been a busy year on Capitol Hill, and ICBA has issued a number of white
papers to bolster its lobbying efforts in support of community banks. Here's a
look at some of what ICBA is recommending, and why.
By Alan Keller
T
here's a lot at stake for
community banks in
the 115th Congress, and
ICBA wants to ensure
that the community bank
voice is heard. As part of that effort,
ICBA has issued a series of white
papers on critical topics. These white
papers have been broadly covered in
the media and distributed on Capitol
Hill and to the Trump administration.
The goal is to inform the debate with
in-depth analysis and a practical perspective
about what works in the real
world of economic decision-making.
Below is a summary of the ICBA
white papers issued to date in 2017.
ICBA Principles for Tax Reform
The 115th Congress presents the
best opportunity in a generation to
restructure, modernize and simplify a
complex, inefficient and distorted tax
code. ICBA supports tax reform. The
tax code determines the nature of
our economy, and tax reform requires
fundamental choices about our
economic future. This white paper
is intended to inject the community
banker voice into this critical effort.
While covering a range of topics,
the focus of the paper is preserving
the current-law
interest deduction
for business
borrowers. The
paper argues that
community bank
credit is a critical
source of capital for
small businesses,
small farms and
ranches. Increasing
the after-tax cost of
debt financing by altering the interest
deduction would put the brakes on
new investment opportunities and
the economic growth potential they
carry. Small businesses that rely on
debt for working capital (such as
accounts receivable and inventory)
would face a threat to their viability.
Other topics covered in ICBA's
white paper include:
» The need for lower marginal
tax rates for corporations, businesses
and individuals to spur
business investment, hiring
and consumer purchasing.
» Modernization of Subchapter
S by increasing
the shareholder threshold,
allowing preferred shares
and allowing individual
retirement account (IRA)
investments. These changes
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Independent Banker - November 2017

Table of Contents for the Digital Edition of Independent Banker - November 2017

Table of Contents
Independent Banker - November 2017 - Intro
Independent Banker - November 2017 - Cover1
Independent Banker - November 2017 - Cover2
Independent Banker - November 2017 - Table of Contents
Independent Banker - November 2017 - 2
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Independent Banker - November 2017 - Cover3
Independent Banker - November 2017 - Cover4
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