Chief executives push for tax reform

The RATE Coalition, which represents many corporations with higher effective tax rates than other businesses, has long said that its main goal is to reduce the top corporate rate from its current 35 percent.

In its most recent letter, the coalition reiterated that it is willing to put tax credits and deductions on the table to achieve that goal, and said that the current lame-duck session of Congress should be used to "set the stage for reforms in early 2013."

"Together, we can work to restore America’s global competitiveness and boost economic growth," the CEOs wrote.

President Obama and the most recent GOP presidential nominee, Mitt Romney, have both called for lowering the corporate rate, a goal also shared by top lawmaker in both parties. 

With the fiscal cliff of tax increases and spending cuts looming, a full rewrite of the tax code would almost certainly have to be pushed back into 2013.

The chief executives' letter was sent to the top Republican and Democrat on the Senate Finance Committee — Chairman Max BaucusMax Sieben BaucusClients’ Cohen ties become PR liability Green Party puts Dem seat at risk in Montana Business groups worried about Trump's China tariffs plan MORE (D-Mont.) and ranking member Orrin HatchOrrin Grant HatchRaces to watch in Tuesday’s primaries Senate panel to hold hearing next week for Trump IRS nominee On The Money — Sponsored by Prudential — Senators hammers Ross on Trump tariffs | EU levies tariffs on US goods | Senate rejects Trump plan to claw back spending MORE (R-Utah) — and at House Ways and Means — Chairman Dave Camp (R-Mich.) and ranking member Sandy Levin (D-Mich.).