Business Roundtable sent the following letter to leaders of 28 European Union member states, calling on the EU to overturn the European Commission's order that Ireland recover €13 billion from Apple for alleged illegal state aid.
Tax and fiscal policy have a profound impact on U.S. business investment, economic growth and job creation. Business Roundtable supports competitive, pro-growth tax and fiscal policies to promote economic expansion, level the playing field for U.S. companies competing in global markets and stabilize the federal debt relative to the size of the U.S. economy.
Recent Activities in Tax & Fiscal Policy
The European Commission’s finding against Apple and the Irish government is the latest act of aggression by the EU against a law-abiding U.S. company and sovereign government.
The report examines how Treasury’s rules would affect investments by U.S.-based companies and foreign-based firms in the United States using illustrative examples. The report finds that these investments by U.S. employers would be severely impacted by the proposed rules due to increased financing costs, elevated business risk, added
Business Roundtable believes the approach taken in the Proposed Regulations exceeds the regulatory authority granted to Treasury by Congress under Section 385. Further, the Proposed Regulations are inconsistent with fundamental principles of U.S. tax law, prior regulatory guidance, case law precedents, and Congressional intent.
We are encouraged that Speaker Ryan and Chairman Brady are laser-focused on bold tax reforms that are aimed at growing the economy.
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Momentum for America
In 2016, Business Roundtable will focus its efforts on greater job expansion and economic growth – national priorities that are inextricably linked. Informing our plan is our collective business experience as CEOs of America’s leading companies, experience that tells us what it takes to build momentum for the United States in in 2016 and beyond.