Tax & Fiscal Policy | Business Roundtable

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LeAnne Redick Wilson
Senior Vice President
​lwilson@brt.org

    

What is Business Roundtable

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.

Business Roundtable supports tax and budget policies that promote U.S. business investment, competitiveness and job creation. Specifically, the Committee focuses on pro-growth reform of domestic and U.S. international tax rules and advocates for slowing the growth of federal spending to stabilize federal debt and achieve long-term fiscal sustainability.

Key Stats on the U.S. Economy

Last updated October 02, 2015

The Top Line: GDP Growth in Q1 Revised Upward to 1.1 Percent

The U.S. economy grew by 1.1 percent (revised), the Bureau of Economic Analysis announced Tuesday, a slightly faster pace than was initially estimated, although still below the 1.4 percent growth rate in the final quarter of 2015. 

A modest gain in consumer spending, small uptick in net exports, and robust residential investment offset a sharp decline in business investment. Will heightened global uncertainty, particularly in Europe, reduce the likelihood of a rebound in the second quarter and beyond?

Business Roundtable Statement on the House Republicans' Tax Reform Blueprint

We are encouraged that Speaker Ryan and Chairman Brady are laser-focused on bold tax reforms that are aimed at growing the economy.

CEO Survey: Economic Signs Make Slight Improvement

Business Roundtable CEOs are becoming slightly more optimistic about their companies' capital investment, sales and hiring over the next six months, according to BRT's Quarterly CEO Economic Outlook Survey for the second quarter of 2016. 

However, the CEOs projection for GDP growth for 2016 ticked down from 2.2 percent to 2.1 percent. 

BRT Letter to the Office of Management and Budget on Debt/Equity Regulations

Business Roundtable believes the proposed documentation requirements are excessive and have been proposed without adequate consideration of their costs and alternative, less costly procedures.

Key Stats on the U.S. Economy

Whether it be in the context of private enterprise or public policy, Business Roundtable CEOs believe that sound decisions must be grounded in the facts.  Our commitment to evidence-based, data-driven decision making is embodied in the Business Roundtable Data Monitors — a suite of executive-style dashboards that illustrate key data points and trends in various areas of public policy.

The Top Line: A Disappointing Jobs Report

Labor market momentum slowed sharply in May, casting doubts on the strength of the U.S. economy, according the Bureau of Labor Standards report released today. Nonfarm payrolls added a disappointing 38,000 jobs and labor force participation fell for the second month.

However, the unemployment rate dipped to 4.7 percent, while average annual wage growth held on to a solid 2.5 percent pace. Will May’s weak employment report cause the Fed to postpone interest rate increases this summer?

The Top Line: New Revision Reaffirms Halting Growth

The U.S. economy grew by 0.8 percent in the first quarter of 2016, the Bureau of Economic Analysis announced in its second estimate released today. The growth represented a slightly faster pace than initially estimated, though still below the 1.4 percent growth rate in the final quarter of 2015. A modest gain in consumer spending and robust residential investment offset a sharp decline in business investment and negative net exports.

BRT Letter to Congress on Treasury Department's Proposed Debt/Equity Regulations

Business Roundtable has strong concerns about the potential business disruption, significant breadth of impact, and adverse consequences caused by the proposed regulations. Because of these concerns, and the immediate effect of the new rules, I urge Congress to require the Treasury Department to take three immediate actions: (1) extend the comment period by at least 90 days (to October 5, 2016); (2) change the effective date; and (3) provide a thorough and complete economic analysis prior to considering finalizing the regulations.

Business Community Letter to the U.S. Treasury on the Proposed Debt-Equity Regulations

The proposed guidance, which overturns long-standing tax principles and well-established case law and regulations, will significantly increase the cost of doing business in the United States, and create further obstacles to much needed investment, job creation and economic growth.

The Top Line: April Jobs Report Suggests 'Cooling' Labor Market

The labor market showed signs of cooling in April after three quarters of subdued economic growth. Non-farm payrolls added 160,000 jobs and the unemployment rate held steady at 5.0 percent while labor force participation slipped from 63 percent to 62.8 percent, the Bureau of Labor Standards reported today.  However, earnings were a bright spot this month as average annual wage growth reached 2.5 percent. How will this month’s mixed report impact the Fed’s decision regarding the timing of its next interest rate hike?

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Committee Priorities

Tax reform for all businesses is fundamental to strengthening the U.S. economy and ensuring that American workers and American companies can successfully compete around the globe. A modernized U.S. tax system with competitive tax rates and competitive international tax rules would promote growth through greater investment, higher wages and more jobs in the United States. 

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Tax reform for all businesses is fundamental to strengthening the U.S. economy and ensuring that American workers and American companies can successfully compete around the globe. A modernized U.S. tax system with competitive tax rates and competitive international tax rules would promote growth through greater investment, higher wages and more jobs in the United States.

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Achieving Sound Fiscal Policy

Business Roundtable supports sound fiscal policy by urging Congress to pass annual budgets on time; appropriate funds early enough in the legislative session to avoid disrupting government operations; follow an orderly process to allow for required borrowing; and strengthen entitlements for the long haul.