Tax & Fiscal Policy | Page 8 | 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: 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.

The Consensus is Clear

Over 2,000 nonprofits, charitable organizations, businesses and associations agree: permanent and multiyear tax extenders will support jobs, gerneate new investment and innovation, and boost charitable giving.

The Top Line: Labor Market Gains Momentum in October with 271,000 Jobs

Following two consecutive months of sluggish performance, the U.S. labor market gained significant momentum in October. The economy added more jobs — 271,000 — than in any other month this year, the unemployment rate declined slightly, and wage growth accelerated. This month’s report suggests that, despite economic headwinds abroad, the U.S. economy is gaining traction,   increasing the odds that the Fed will raise interest rates in December.

The Top Line below has more analysis.

CNBC Squawk Box: BRT President Engler Highlights Tax Reform, Trade

Business Roundtable President John Engler appeared on CNBC's Squawk Box this morning, interviewed by Michelle Carusa-Cabrera on the major economic issues concerning U.S. business leaders. "Slow economy ... underperforming against trend," Engler said. How to address it? Tax reform is the place to start.

But can it get done?


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.

Read More
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.