Tax & Fiscal Policy | Page 64 | 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.

Worldwide American Companies Face High Effective Tax Rates

U.S. companies face the second highest statutory tax rate among the 30 members of the Organization for Economic Cooperation and Development (OECD). The U.S. rate was 39.1 percent in 2009, including federal and state income taxes, according to the OECD.

Proposed International Tax Increases Would Harm U.S. Economy

The Administration proposes to fundamentally rewrite the basic rules of international taxation that have been in existence for nearly 100 years in a manner that would severely disadvantage American companies and make U.S. workers less secure. The Administration estimates its proposals would increase taxes by $200 billion on U.S. corporations over ten years.

Fair Tax Treatment for U.S. Companies in the World Economy

Tax changes that disadvantage U.S. companies in foreign markets will only hurt U.S. workers here at home. U.S. companies need a level playing field.

Uncompetitive U.S. Corporate Tax Rate

Increasing Already High U.S. Corporate Taxes Will Disadvantage American Companies in the World Economy

U.S. Taxes are Out of Sync with World’s Leading Economies

America Proposes Increasing Already High Corporate Taxes as the Rest of World Moves in Opposite Direction

Massive New Taxes on U.S. Companies Will Slow Economic Recovery and Job Growth

As many of the world’s major economies take steps to enhance the ability of their companies to grow and spur economic growth and job creation, proposed new U.S. international tax policies threaten to unfairly harm American companies and make U.S. workers less secure.

Business Roundtable Statement on Treasury’s Tax Proposal

The proposed tax increases on U.S. companies by the Treasury threaten the jobs of tens of millions of U.S. workers and our future economic growth. These unprecedented tax increases could not come at a worse time for struggling U.S. workers and businesses. We urge Congress to reject these proposals.

Business Roundtable Statement on President Obama’s International Tax Proposals

President Obama’s plan today to increase taxes on American corporations is the wrong idea at the wrong time for the wrong reasons. This plan will reduce the ability of U.S. companies to compete in foreign markets, which will not only reduce jobs, but will also cripple economic growth here in the United States.

Letter to Secretary Murphy Re: File Number S7-27-08

Business Roundtable supports the efforts of the Securities and Exchange Commission (SEC) to promote the use of a single set of high-quality global accounting standards.

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.