In Letter to Hill and White House, America’s Business Leaders Say Tax and Immigration Reform, Expanded Trade and Greater Fiscal Stability Will Drive Investment, Growth and Jobs
Washington – Business Roundtable, representing CEOs of leading U.S. companies from every sector of the economy, today sent a letter to all members of Congress and the White House detailing its plan to spur business investment, increase U.S. economic growth and create more American jobs. The plan was also released as a report titled, “Invested in America: A Growth Agenda for the U.S. Economy,” at a news conference today.
“Policymakers have the means to reopen America’s doors to the investment that it desperately needs to realize its full potential,” said Randall Stephenson, Chairman and CEO of AT&T Inc. and Chairman of Business Roundtable. “By modernizing the business tax system, expanding trade opportunities, implementing sensible immigration reform and adopting a responsible approach to fiscal policy, Washington can join the business community in supporting America’s success.”
The four areas detailed in the plan that Business Roundtable will aggressively pursue with policymakers over the coming year to encourage growth include:
- Comprehensive Tax Reform: Burdened by high business rates and an outdated method of taxing overseas earnings, the U.S. tax system stifles domestic investment that drives the economy. Congress must pass comprehensive reform for individuals and businesses, with competitive rates and a modern system to tax overseas earnings.
- Expanded International Trade and Investment: Ninety-six percent of the world’s consumers live outside of the United States, creating enormous potential for increased U.S. domestic investment and economic growth beyond America’s borders. America should complete pending trade agreements and advance other trade priorities, including passing updated Trade Promotion Authority.
- Immigration Reform: America’s business leaders believe that immigration reform will create a healthier economy and strengthen national security. The benefits from improving security and enforcement, welcoming more legal immigrants and providing a solution for undocumented immigrants – including a pathway toward legal status – would be significant for this country.
- Fiscal Stability: Policymakers should adopt a more strategic approach toward budget and fiscal policy, including measures that strengthen the nation’s health care and retirement system. Finally, it is critical that budget, borrowing and fiscal decisions be made in a timely manner to avoid government by crisis.
Starting this week, Business Roundtable is initiating a series of high-level activities to build support for the plan and ensure that policymakers act on the priorities this year. These include – in addition to delivering the growth agenda to every member of Congress and the White House – meeting with federal policymakers and their staffs to brief them on the issues; outreach to reporters and editorial boards across the country; speeches in major metropolitan areas; opinion pieces in major outlets; and an aggressive advertising and social media campaign.
Momentum for America
In 2016, Business Roundtable will focus its efforts on greater job expansion and economic growth – national priorities that are inextricably linked. Informing our plan is our collective business experience as CEOs of America’s leading companies, experience that tells us what it takes to build momentum for the United States in in 2016 and beyond.