CEO plan, 'Taking Action for America,' draws heavy media coverage
Business Roundtable CEOs unveiled BRT's major new report, "Taking Action for America: A CEO Plan for Jobs and Economic Growth." News coverage has been extensive (and good!), with reporters pursuing several different angles.
Both were packed: The room where CEOs gathered for news conference, and the report itself -- packed with specific policy recommendations meant to encourage hiring, build the economy, and spur business investment.
Fresh out of a meeting with members of the Blue Dog Coalition, dozens of CEOs in town for a series of Business Roundtable policy and lobbying meetings today unveiled proposals to boost the economy.The plan, billed as “Taking Action for America,” calls for a balanced federal budget, a reform of federal regulations and a lower corporate tax rate based on a territorial tax system, among others.
The plan, billed as “Taking Action for America,” calls for a balanced federal budget, a reform of federal regulations and a lower corporate tax rate based on a territorial tax system, among others...
“Today we are focusing on one thing and one thing only: re-energizing the slow-growing economy and putting America back to work,” said Jim McNerney, the Roundtable’s chairman and the CEO of Boeing Co.
Reuters, "U.S. CEOs urge Washington to end gridlock":
WASHINGTON, March 7 (Reuters) - More than 100 chief executives at large U.S. companies urged the Obama administration and Congress on Wednesday to end political gridlock and work together with industry to accelerate economic growth through measures such as corporate tax reform.
"We cannot be successful if government and business remain divided," Boeing Co CEO Jim McNerney told a news conference in Washington, D.C. He was flanked by dozens of chief executives participating in meetings hosted by the Business Roundtable.
Wall Street Journal (blog), "CEOs Say Change Volcker Rule, Other Pending Fed Regulations":
A group of chief executives on Wednesday called for major changes in Washington, including modifying parts of the Dodd-Frank financial overhaul bill and balancing the federal budget.
Such action will spark job creation and economic growth that has remained tepid during the recovery, said members of the Business Roundtable, an organization of more than 100 U.S. chief executive officers...
Amid political gridlock in Washington, the Business Roundtable, representing companies with over $6 trillion in annual revenues, laid out a broad plan that includes streamlining regulation, tax and immigration reform, and improving education.
"Accelerating economic growth and job creation are top priorities for American companies and American workers," said Jim McNerney, chairman, president and CEO of The Boeing Company, and Business Roundtable chairman.
A Business Roundtable plan announced at the press conference seeks to cut America's corporate tax rate from nearly 40 percent to the international average of 25 percent and move America to a territorial tax system, where earnings abroad are taxed only in those countries.
"A modern, streamlined, and fiscally responsible tax system will create a more competitive business environment that attracts new investment and supports strong economic growth and job creation," said Bob McDonald, chairman of Procter & Gamble.
Market News International, "US CEOs Concerned Uncertain Regs, High Tax Rate Hurting Econ":
[Dow Chemical CEO Andrew] Liveris said he would like policymakers to "engage us on the front-end" and discuss the regulations with the "spirit of compromise."
He said uncertainty, particularly with financial regulation, is weighing on business decisions and impacting corporations ability to hire.
"We don't understand the costs, we don't know the details whether it is Volcker Rule or Dodd-Frank legislation," Liveris said, adding "let's start picking the pieces that you really care about, that we care about."
- The Hill, "CEOs release policy wish list after meeting with Obama"
- CNNMoney, "CEOs: Create jobs by cutting corporate tax rate and regulations"
- IndustryWeek, "CEOs Offer Plan to Revitalize US Economy"