all at once 10.25.17 Comprehensive tax reform is an issue taking center stage in our national dialogue not just in Washington, D.C. but around the country. As a U.S.-based domestic company with nearly 250,000 employees , CVS Health is committed to improving health care and lowering costs for millions of Americans, and we believe that common sense changes to the tax code will help us, and many U.S. companies like us, do just that. Decreasing the Corporate Tax Rate Enables Increased Investments in Better Health Comprehensive tax reform comes with measurable benefits to Americans health. Reducing the corporate tax rate would enable accelerated investment in the technologies and infrastructure needed to improve care quality and efficiency, while encouraging competition and expanding lower cost options for patients. In 2016, CVS Health s effective tax rate was actually greater than the statutory federal tax rate of 35 percent, and the enterprise paid nearly one percent of all corporate taxes collected in the U.S. Reducing the corporate tax rate to a competitive 25 percent would allow CVS Health to build new CVS Pharmacy and CVS MinuteClinic locations each year, helping to bring care closer to home for thousands of Americans. Savings generated by tax reform would also enable us to invest more than $100 million in new technologies to improve care and outcomes. A reduced corporate tax rate would also encourage other businesses in the industry to make similar investments, improving health options and outcomes for Americans at an even larger scale. Reducing the Corporate Tax Rate Would Spur Economic Growth in Local Communities A lower corporate tax rate would also grow local economies, expanding opportunities for more Americans. Using CVS Health as an example, each single-digit reduction in the corporate tax rate would generate more than $90 million in annual capital that we could invest in local communities. If corporate taxes were lowered from 35 to 25 percent, CVS Health could create 3,000 permanent jobs and 4,500 temporary construction jobs for new facilities. Comprehensive tax reform will strengthen our company s ability to help lower health care costs and improve patient outcomes while at the same time supporting growth in local communities across the nation. For more information about CVS Health s efforts to improve pharmacy care, visit our Health Care Delivery & Innovation information center and the CVS Health Impact Dashboard . And to stay informed about the most talked-about topics in health care, register for content alerts and our bi-weekly health care newsletter . Related Articles By the Numbers: The State of Health Care in the United States Frustrated by the U.S. health care system, Americans want change, yet remain optimistic about its future outlook. On Target: What the New Hypertension Guidelines Mean New hypertension guidelines could mean lifestyle and medication changes for consumers. CVS Health tools and experts can help. 5 Things Pharmacists Do Beyond the Pharmacy Counter CVS pharmacists are on the front lines of health care and do much more for our patients than fill prescriptions. Related Press Releases 09.06.17 CVS Pharmacy Addressing Access, Affordability and Quality Care with Annual Free Health Screening Campaign 07.25.17 CVS Health Expands Clinical Affiliation with Cleveland Clinic to Increase Access to Patient-Centered Care and Improve Coordinated Health Care Delivery 04.18.17 Phoenix VA Health Care System, TriWest, and CVS Health Partner to Increase Veteran Access to Health Care Services 12.05.16 CVS Pharmacy and MinuteClinic Encourage Families to Get Their Flu Shots During National Influenza Vaccination Week 09.07.16 CVS Health Increasing Access to Health Care with Annual Project Health Campaign 08.22.16 CVS Health Research Institute Study Shows Value in Tailoring Medication Adherence Interventions to Specific Patient Populations reputable
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