Business Roundtable supports a comprehensive restructuring of the U.S. corporate tax system, including a broadening and lower of rates plus a move to a competitive territorial system. Until that reform is accomplished, let's make sure to extend the current exemptions that buttress a vital and competitive private sector.
In keeping with that priority, BRT joined more than 1,500 other associations and businesses today in a letter urging Congress to pass what's commonly known as the "tax extenders."
Here's the substance:
The undersigned organizations urge Congress to extend as soon as possible the tax provisions set to expire in 2011. These tax provisions, which benefit a wide range of taxpayers, including associations, businesses, individuals, community development organizations and non-profit organizations, are important to U.S. jobs and the broader economy. The lack of timely congressional action to extend these provisions would inject more instability and uncertainty into the economy and further weaken confidence in the employment marketplace.
Moreover, the extension of the expiring provisions should not be delayed until policymakers complete work on comprehensive tax reform. Even though Congress has begun to consider tax reform proposals, a wide-ranging group of taxpayers is making decisions right now related to current law which will have an immediate impact on the economy. While we are hopeful that the tax reform debate results in policy that is fair, efficient, and encourages economic growth, it is critical that the current tax system provide certainty in the interim. Additional uncertainty is not a recipe for improving confidence in this economy.
And the news release is here, with a link to the letter and the signers.