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ESA Issues Statement About Tax Reform Proposal And How It Would Affect Games Industry
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:
Today’s tax reform proposal will energize tech sector innovation and economic opportunity. For the $30.4 billion US video game industry, which employs more than 220,000 people all across the United States, the pro-growth policies introduced will incentivize greater US investment and more high-quality American jobs. ESA commends Speaker Ryan, Chairman Brady, House leadership, and the Ways and Means Committee for crafting a reform package that drives US economic growth. The video game industry is committed to working with congressional leaders at every stage of this process.
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.
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