Tax and Fiscal Policy Committee
To increase the pace of economic growth and increase job opportunities, American businesses must have the confidence to invest and hire. The Tax and Fiscal Policy Committee is focused on advocating tax and budget policies that promote U.S. competitiveness, economic growth and job creation. Specifically, this Committee advocates both fundamental reform of the U.S. tax law that reduces corporate tax rates while adopting a competitive territorial system like most of the rest of the world and a reduction in the growth of federal spending to stabilize federal debt and achieve long-term fiscal stability.
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Committee Chair
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Robert A. McDonald
Chairman, President and CEO,
Procter & Gamble CompanyVice Chair and Committee Chair, Business Roundtable
More About the Committee
Changes in tax policy and government spending should create the proper conditions for more robust job creation in the private sector, increased capital formation, higher exports and greater competitiveness in foreign markets. Conversely, uncertainty surrounding unsustainable federal deficits and excessive taxation restrict our ability to innovate, compete and hire.
In particular, Business Roundtable wants to work with Congress and the Administration on the following matters:
- Implementing comprehensive tax reform to promote investment in the United States and strengthen U.S. competitiveness in the global marketplace. This includes decreasing the corporate tax rate – American corporations already face the highest corporate tax rate in the developed world – while adopting a territorial tax system.
- Retroactively extending important business tax provisions that expired at the end of 2011, including the R&D credit and important international provisions. Immediate extension of these provisions provides a critical incentive for companies to retain and create high-paying American jobs, and this is an easy step to help create a more certain business environment.
- Reducing the debt and deficits by examining all aspects of the federal budget and reviewing policy recommendations designed to help the Administration and Congress achieve consensus deficit targets that maximize economic growth while putting the U.S. economy on a more sound fiscal foundation.