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: 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?

Business Roundtable Letter on Country-by-Country Tax Reporting

Business Roundtable’s interest in CbC reporting stems from the fact that the information requested in these reports includes sensitive competitive business information. Safeguarding the confidentiality of this information is key, which the Treasury’s proposed CbC reporting regulations recognize by providing the same confidentiality protection to CbC reports as to other tax return information.

Business Roundtable Letter to Senate on Tax Treaties

Increasing the ability of American businesses and their U.S. workers to compete in foreign markets provides immediate benefits to the U.S. economy.

Business Roundtable Statement on Inversions

Business Roundtable President John Engler issued a statement following the U.S. Treasury action regarding inversions and President Obama's remarks.

The Top Line: A Resilient Economy with 215,000 Jobs Added in March

The labor market showed resiliency in March despite continued global headwinds, according to the Bureau of Labor Analysis' economic situation summary released today. Non-farm payrolls added 215,000 jobs, while the average hourly workweek held steady and wage growth ticked up. Finally, the slight uptick in March’s unemployment rate – from 4.9 percent to 5 percent – was coupled with an increase in the labor force participation rate, suggesting that sustained labor market gains may be drawing more Americans into the labor force.

CEO Survey Shows Economy Stuck on Slow, TPP Would Boost Growth

U.S. GDP will grow just 2.2 percent in 2016, according to results of Business Roundtable's Q1 CEO 2016 Economic Outlook Survey released today, dropping from last quarter's projection of 2.4 percent.

The Top Line: Robust Hiring as U.S. Economy Adds 242,000 Jobs in February

Robust job creation returned in February after the pace of hiring slowed in January. The labor market added 242,000 jobs to nonfarm payrolls and the unemployment rate held steady at 4.9 percent. However, average weekly hours fell and wages declined after accelerating in January.

For more detail, see The Top Line analysis below.

The Top Line: 1 Percent GDP Growth in Fourth Quarter of 2015

The U.S. economy grew by 1.0 percent in the fourth quarter of 2015, the Commerce Department announced today, revising its estimate up from 0.7 percent. The growth is down from 2 percent in the third quarter. Modest growth in consumer spending and strong residential investment were partially offset by a reduction in business investment and exports. Despite a slowdown in the second half of 2015, economic growth averaged 2.4 percent for the full year – the same growth rate as 2014 and above the 2.1 percent average rate for the six years following the recession.

BRT Statement on House Ways and Means Committee Hearing on the Global Tax Environment

Business Roundtable supports the Ways and Means Committee’s efforts to address our broken tax system, and we look forward to working with them in a constructive way.

Business Roundtable Statement On The President’s FY 2017 Budget

The President’s FY 2017 budget continues to demonstrate the bipartisan support for a more competitive corporate tax rate. American workers bear as much as 75 percent of the corporate tax rate today through lower wages.

Pages

Committee Priorities

It has been over 30 years since major tax reform was last undertaken. The United States has failed to act while the rest of the world has implemented modern tax policies to aggressively compete for jobs and investment.

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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.