Washington — Business Roundtable President John Engler issued the following statement in response to the U.S. Treasury announcement of the final rule governing tax treatment of debt, equity and investments of U.S.-based companies with international operations under Internal Revenue Code Section 385:
“Business leaders have consistently communicated deep and broad concerns with Treasury’s debt/equity regulations as proposed in April.
“The previously proposed rules would impose excessive and disproportionate regulatory burdens on the U.S. economy. We are carefully reviewing the extent to which these were addressed in the revised regulations. After initial review, it appears that Treasury has sought to address several of the key issues raised by Business Roundtable, but further analysis is required.
“Our detailed review will focus on ensuring these revised regulations do not harm job creation and economic growth.”
See more about the Business Roundtable solutions to expand job creation and grow the U.S. economy at: BRT.org/growth.