This morning, Republican lawmakers revealed a proposed $1.41 trillion tax plan that cuts taxes for corporations and certain middle-class families. The ESA (Entertainment Software Association), prominently known for organizing the annual E3 convention, was quick to release a statement in response to this proposal.
The statement from the ESA's president and CEO, Michael D. Gallagher, explains how these tax cuts would be beneficial for the video game industry. It can be read in full below:
Igniting greater economic opportunity and innovation, today’s tax reform proposal promises to boost the US tech sector. For the 2,600 US-based video game companies competing in the $100 billion worldwide video game market, a competitive, pro-growth tax system that encourages IP development and investment in US jobs is imperative. We commend Majority Leader McConnell, Speaker Ryan, Chairman Hatch, Chairman Brady, Secretary Mnuchin, and Director Cohn for their diligence in crafting this proposal and look forward to working with all policymakers as the effort to enact tax reform moves forward.
This isn't the first time the ESA has responded to politics that affect the tech industry. In the past, it has shown support for the White House's STEM initiative and condemned president Trump's immigration ban earlier this year.
[Source: The ESA]
Our Take
The video game industry is enormously profitable and continues to grow each year. Tax cuts such as these could help an already lucrative industry continue to flourish so that we can see advancements in video game technology and innovation.
from www.GameInformer.com - The Feed http://www.gameinformer.com/b/news/archive/2017/11/02/esa-issues-statement-about-tax-reform-proposal-and-how-it-would-affect-games-industry.aspx
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