The World Economic Forum has released its Global Competitiveness
Report, which shows the United States in fourth place for where companies
should do business.
Two years ago, the U.S. was ranked first.
The forum identified high taxes and onerous regulations for dulling the competitive edge of the United States.
"This disturbing news makes it clear that the administration and the
Congress must take immediate action," Aerospace Industries Association
(AIA) President and CEO Marion Blakey said in prepared remarks. "We
cannot risk falling further behind in today's competitive global
To make the country more competitive, the AIA urges Congress to make the research and development tax credit permanent, reduce the corporate tax rate and reinstate bonus depreciation for companies.