Business Roundtable on April 15, 2015, submitted comments to the Senate Finance Committee's working groups on tax reform. In its memo, BRT reiterated its recommendations to set the corporate tax rate at a competitive 25 percent while adopting a modern international tax system.

The Roundtable also identified key principles for reform:

• Tax reform should promote U.S. economic growth and competitiveness.  An OECD report found that the corporate income tax is the most harmful type of tax for economic growth and therefore tax reform should not result in a net increase in corporate income taxes.  In considering the impact of tax reform on revenues, a realistic budget baseline should be used that acknowledges that longstanding tax provisions extended repeatedly on a short-term basis are in reality a permanent feature of current law.
• Tax reform should provide a simplified, efficient, and unbiased tax system.  A simpler, more efficient tax system would allow our economy to produce more for any given amount of investment.  A reformed tax code should not be biased for or against any particular segment of the business community.
• Permanence.  Tax reform should be permanent to support long-term business decisions and commitments that will allow for capital investment and consistent hiring of American workers. 

The memo concluded: "Business Roundtable urges this Committee to enact tax reform this year.  Our economy has waited too long already.  Unless decisive action is taken this year, our anti-competitive tax system will continue to hinder the competiveness of American companies and American workers.  The Roundtable and its business leaders offer their assistance to this Committee and its staff in this goal."

To read the full submission to the Senate Finance Committee, click here.