Coverage of the Obama Administration's Fiscal Year 2016 budget released Monday included extensive reporting, analysis and speculation on the prospects for his 14 percent, one-time tax on foreign profits of U.S. corporations held overseas, followed by a 19 percent tax on future profits. 

A frequent -- but definitely not exclusive -- response struck the tone, "Well, there are some possibilities here for political compromise. Let's see where things are headed." 

Business Roundtable President John Engler issued a statement that included this on taxes:

The Administration has correctly identified the importance of reducing the corporate tax rate to competitive levels and overcoming barriers to the reinvestment of foreign earnings at home to increase US investment, promote higher wages, and enhance job creation. 

“Unfortunately, the Administration has proposed steep tax increases on businesses that will negatively impact their competitiveness – especially those businesses that compete in the global marketplace.  Tax reform should increase the competitiveness of businesses to fully strengthen the U.S. economy and enhance job creation. Business Roundtable is committed to working with the Administration and Congress to further develop tax policies and find common ground that will help America achieve its full growth potential.

Business Roundtable's position on pro-growth tax reform is detailed here.  Key recommendations:

• Enact permanent, pro-growth tax reform that sets the corporate tax rate at 25 percent.
• Enact permanent, pro-growth tax reform that adopts a modern international tax system.

More coverage of the budget:

The Hill, "Obama looks to entice GOP with tax plan":

John Engler, the president of the Business Roundtable, said Monday that the White House had “proposed steep tax increases on businesses that will negatively impact their competitiveness — especially those businesses that compete in the global marketplace.”

Still, Engler also praised the Obama administration for seeking to cut the corporate rate, and agreed “that infrastructure investment is important.”

Wall Street Journal, "Firms Back Tax Reform—Just Not Obama’s: They Agree Change Is Needed, but Disagree With President’s Approach":

Mr. Obama’s proposal is an opening bid to break the logjam and raise $478 billion the government can spend shoring up the country’s infrastructure. But a wide gulf remains between the president’s idea and what many businesses hope to secure. ...

John Engler, president of the Business Roundtable, which represents CEOs of the biggest U.S. companies, took issue with the suggested 19% minimum tax on all future foreign profits. That would penalize U.S. companies that had long believed they would never owe such taxes as long as they invested their foreign profits abroad.

Agence France-Presse, "Obama's budget seeks tax on US companies' offshore profits":

The proposal earned modest criticism from the business world while others said it was too much a giveaway to the big companies.

John Engler, the head of Business Roundtable, a grouping of major corporate chief executives, said the Obama administration "has correctly identified the importance of reducing the corporate tax rate to competitive levels and overcoming barriers to the reinvestment of foreign earnings at home."

"Unfortunately, the administration has proposed steep tax increases on businesses that will negatively impact their competitiveness -- especially those businesses that compete in the global marketplace."

• Bloomberg, "Obama Closer to Republicans on Revamp of Business Taxation"
• Investor's Business Daily, "Obama Plays Repatriate Games With U.S. Businesses"
• Wall Street Journal, "Obama Budget Sets Off Push for Deals: Republicans Dismiss Calls for New Taxes, but Openings for Compromise Are Seen"