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.

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:

Tax Relief Today

Tax Relief Today

Certainty & Economic Growth Tomorrow

Failure to pass tax extenders would hurt families, farmers, charitable organizations and businesses. Permanent and multiyear tax extenders will boost jobs, generate new investment and innovation, and boost charitable giving. 

Follow the conversation: #TaxReliefTuesday

The Top Line: Q3 GDP Growth Revised Upward to 2.1 Percent

According to the latest GDP estimate from the Bureau of Economic Analysis, the U.S. economy advanced at a 2.1percent clip in Q3 2015, faster than previously estimated but significantly slower than the 3.9 percent growth in Q2. 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.

Inversions to Continue Until Broad Tax Reform Achieved

America’s outdated tax system is once again pushing U.S. headquarters through the exit door.

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.