Washington – Business Roundtable today commends members of Congress for reaching a compromise to fund federal government operations for the 2016 fiscal year and urges swift passage of the legislation.

The legislation would provide the fiscal stability on which the U.S. economy relies. The Consolidated Appropriations Act of 2016 would also lift the 40-year-old ban on U.S. exports of crude oil, delay the implementation of the 40 percent tax on health benefits, place a moratorium on the health insurance tax and address growing cybersecurity threats by enabling information sharing. All are Business Roundtable priorities for economic growth.

“We applaud Congress and the Administration for working together to reach a compromise on this omnibus spending bill,” said John Engler, President of Business Roundtable. “CEOs, like all Americans, look to leaders in Washington to deliver on the basic promise to keep our government running. Passage of this legislation will send a powerful signal that Congress can work together to begin to put us on a path that provides the fiscal stability that our economy needs to reach its full potential.”

“By including a provision in this legislation to lift the 1970s-era policy that has kept the United States from exporting crude oil, Congress is strengthening America’s strategic position in global energy markets,” Engler said. “The United States has become the world’s top oil producer, and this bill reflects that reality.” Business Roundtable has been a strong advocate for lifting the export ban to allow U.S. energy producers to compete globally.

Engler also noted Business Roundtable support for the provisions in the spending bill that would protect health benefits. “More than 150 million Americans rely on employer-sponsored health benefits to cover care for themselves and their families. With the delay of the 40 percent tax on employer-sponsored health benefits and the moratorium on the health insurance premium tax, the Administration will have time to work with employers to preserve reforms that were made before the Affordable Care Act. These benefits need to be protected for millions of employees.”

“Inclusion of the critical cybersecurity information sharing provisions is also vital for national security,” Engler said. “It’s long overdue, but this bill will enable the exchange of information about cyber attacks, while preserving civil liberties.”

“We urge Congress to pass the omnibus bill without delay,” Engler said.

Earlier this year, Business Roundtable released an economic growth agenda that calls for tax reform, trade expansion, fiscal stability, infrastructure investment and a competitive workforce so that America can reach its full potential.