Tax & Fiscal Policy | Page 6 | Business Roundtable

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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.

More Than Leaders. Leadership.

Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.

About BRT

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.

The Top Line: Inventories and Slowing Exports Hit GDP in Q3

The U.S. economy advanced at a 2.0% clip (revised) in Q3, significantly slower than the 3.9% growth in Q2, according to the Bureau of Economic Analysis' December release. Solid growth in consumer spending, business and residential investment, and government spending was partially offset by a slowdown in exports and a sharp decline in inventories.

For more detail, see this The Top Line report below.

More Time to Get Health Care Right

Congress took an important step for employees and employers alike with its passing of an omnibus spending bill and tax extenders legislation. With a suspension of the 40 percent tax on high-value health care benefit plans, the House and Senate prevented the higher costs and more limited benefits that this so-called Cadillac tax would have caused.

Business Leaders Welcome Budget and Tax Agreements

Congress worked across party lines to put American families and the U.S. economy first. Fiscal instability and uncertainty in the tax code have stifled investment for years; workers and wages have suffered.

Congress Embraces Economic Growth in Year-End Legislation

As Congress wraps up business for 2015, it's recording major, pro-growth successes in the omnibus spending bill and the tax extenders legislation. From the lifting the ban on oil exports to a variety of renewed and even permanent tax provisions, members of Congress have stepped up on behalf of U.S. employers and employees, adopting many of the policies that  Business Roundtable has made priorities.(See our economic growth agenda, Achieving America’s Full Potential.)

Business Leaders Commend Major Tax Agreement

The importance of this agreement, which includes permanent tax extenders, cannot be overstated. We strongly urge immediate action on this package.

Debates Should Highlight Both National Security and Economic Growth

Given the recent terrorist attacks, this week’s presidential debates in Las Vegas and Manchester, N.H., will undoubtedly focus on national security. That’s as it should be: Defense of the United States and its people is an explicit constitutional responsibility of the president, and America faces deadly danger from terrorism.

Yet at the same time, candidates should continue to lay out their plans for economic growth. National security and a strong economy key to afford it are intrinsically linked, and the U.S. economy has been lagging for far too long.

The Top Line: Latest Employment Report Shows Economic Resilience

The U.S. labor market posted a second month of solid job growth in November.The unemployment rate held steady despite more Americans entering the workforce, and wages increased moderately following a surge in October. This month’s report  suggests that the U.S. economy has remained resilient to economic headwinds abroad, and increases the likelihood that the Fed will raise short-term interest rates in December for the first time since 2006.

For more, here's Business Roundtable's The Top Line:

BRT Letter to Congressional Leaders Urging Tax Extenders

The importance of these tax provisions cannot be overstated. Many are longstanding features of the business and individual tax systems – including items such as the research and development credit, bonus depreciation, and international provisions that help U.S. companies compete in foreign markets; and all of which companies count on in formulating investment plans and budgets.

Letter to President Obama Urging Tax Extenders

Dear Mr. President:

Business Roundtable, an association of Chief Executive Officers of leading companies, is committed to promoting sound public policy and a thriving U.S. economy. We make capital investments and other significant business decisions every day based on the current economic and legal environment.
These decisions become difficult when there is uncertainty in our tax laws. In 2015, this problem was exacerbated with the expiration at the end of last year of more than 50 tax provisions.

CEO Quarterly Survey: News Reports Highlight Slipping Capex, Sales

Business Roundtable members are again lowering their expectations for capital investment and sales over the next six months, according to the 4th Quarter CEO Survey released today. Hiring plans remained flat. GDP growth for 2016 was projected at 2.4 percent.

In an additional question asked every fourth quarter, business leaders also identified regulation as their companies' largest cost pressure, followed by labor costs and health care costs. 

News coverage:

Pages

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.