Many people in both parties agree that the United States needs corporate tax reform, but we have a harder time passing tax reform than our international competitors. Will we succeed this year?

The United States has been blessed with a system of checks and balances that require the House, Senate, and Executive Branch to sign off on new laws. This has the benefit of ensuring that legislation has broad appeal. It prevents much damaging legislation from passing, but it also makes it harder to pass worthwhile legislation.

All other major countries have lowered their rates, leaving the United States with the highest in the world after the United Arab Emirates.

In contrast, other countries can announce new tax laws and they pass right away.British Prime Minister Theresa May can announce that the top U.K. corporate rate will decline to 17 percent in 2020, and she has the power as leader of the ruling Parliamentary party to make it happen.

Prime Minister May and other leaders can lower their tax rates without having to prove revenue neutrality. Canada has steadily reduced its tax rates over the past 20 years without signoff from a Congressional Budget Office—because they do not have one.In contrast, our Congress must consider numerous points of order while passing tax and revenue bills. These rules stem from the Congressional Budget Act of 1974 and later budget resolutions and statutes.

The U.S. corporate tax rate has been at 35 percent since 1993. During the 1970s and 1980s, many other countries had rates in that range, or higher.However, over the past 15 years all other major countries have lowered their rates, leaving the United States with the highest in the world after the United Arab Emirates, according to a new CBO report comparing international tax rates.

Now the OECD average corporate tax rate is 23 percent, Canada’s federal corporate tax rate stands at 15 percent, and the UK rate is 20 percent.

Not only is the U.S. corporate tax an outlier, but U.S. corporations are taxed on their worldwide income—a path taken by only 7 of the 34 Organization for Economic Cooperation and Development countries (including the U.S.). This places America at a competitive disadvantage.