Tax & Fiscal Policy | Page 7 | 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.

BRT Letter to Senate Leadership on Tax Treaties

For more than 80 years, income tax treaties have played a critical role in fostering U.S. bilateral trade and investment and protecting U.S. businesses, large and small, from double taxation of the income they earn from selling goods and services in foreign markets.

The Top Line: GDP Growth Dips in Final Quarter, Stays at 2.4 Percent for 2015

The U.S. economy grew by 0.7 percent in the fourth quarter of 2015, below expectations and down from 2 percent in the third quarter. For the full year, GDP growth was 2.4 percent.

SOTU Address: Work Together to Support Jobs and Economic Growth

Congress and the Obama Administration ended 2015 on an up note, with bipartisan cooperation producing new laws supporting economic growth and employment. In tonight’s State of the Union President Obama should build on those successes with an offer to continue working with Congress on those same priorities.

The Top Line: Year Ends with Solid Job Growth in December

The U.S. labor market closed out the year with solid job growth in December, making Q4 the best quarter for payroll growth in 2015. This month’s solid jobs numbers, 5 percent unemployment rate, and slight uptick in labor force participation may soothe concerns about a U.S. slowdown in the face of global headwinds, although relatively sluggish wage growth may heighten concerns about reaching the Fed’s targeted 2 percent inflation rate. For more detail, see The Top Line report below.

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.


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.