Washington — Mark A. Weinberger, Global Chairman and CEO of EY, and Chair of the Business Roundtable Tax and Fiscal Policy Committee, issued the following statement today following the unveiling of the House Republicans’ tax reform blueprint by Speaker Paul Ryan and Ways and Means Chairman Kevin Brady:

“The U.S. economy has been plagued by a decade of lackluster growth. America needs its leaders to put forth bold ideas that facilitate debate and action. We are encouraged that Speaker Ryan and Chairman Brady are laser-focused on bold tax reforms that are aimed at growing the economy.

“The blueprint contains tax changes that will dramatically improve the U.S. investment environment for both domestic and foreign businesses, creating jobs, kick starting capital expenditures and leading to economic growth. Competitive business tax rates and a modernized international tax system are needed to add jobs, boost wages and grow the economy.

“We recognize that to attain fiscally responsible tax reform, businesses will have to give up many long-held tax incentives, credits and deductions to achieve competitive rates. The economic growth that will result over time from pro-growth tax reforms will benefit all businesses, large and small. A modern tax system, one built for growth, should end the practice of preferring or penalizing one business over another and aim to level the playing field to maximize shared gains of a faster growing economy. 

“Business Roundtable is committed to thoroughly analyzing the blueprint, with special attention to the economic and competitive impact of the business tax proposals.

“Tax reform must be an urgent priority in 2017 when we have a new President and Congress. This blueprint is another important step toward modernizing our outdated tax system with its pro-growth foundation. Business Roundtable looks forward to working with leaders of both parties to build the necessary bipartisan support to make tax reform a reality.”

Tax reform is a key element in the Business Roundtable plan for stronger economic growth and job creation. For more information on these policy priorities, see www.BRT.org/growth.