Published: November 09, 2012
Washington – Business Roundtable (BRT) today launched “It’s Time to Act,” a concentrated effort by America’s top CEOs to press Congress and the President to act on key economic issues before the end of the year. In a multipronged advertising campaign, the CEOs personally call on Washington to avoid the so-called “fiscal cliff” and end the uncertainty that is stifling business investment and hiring.
The CEOs believe that at a minimum Congress should extend expired and expiring tax provisions until comprehensive tax reform can be enacted; prevent automatic spending cuts through sequestration; address the debt ceiling; and approve permanent normal trade relations with Russia.
As part of the campaign, policymakers will hear directly from BRT CEOs in a series of videos and print, radio and online advertisements and a dedicated website. The first video and ads were released today and feature calls for action from 13 CEOs, including:
Dave Cote, Chairman & CEO of Honeywell International, Inc.: “If the last debt ceiling discussion was playing with fire, this time they’re playing with nitroglycerin. It’s important to recognize that the stakes have gone up across the board when you combine the debt ceiling with the fiscal cliff.”
Ursula Burns, Chairman & CEO of Xerox: “The looming fiscal cliff is creating even more uncertainty. Economic recovery will remain stalled until Washington resolves the fiscal crisis and starts focusing on longer-term solutions next year.”
Scott Davis, Chairman & CEO of UPS, Inc.: “Lack of political will by our leadership in Washington is immobilizing us. Our national debt increases about $3 million every minute. Our leadership needs to adapt to the economic realities, take a disciplined approach, and most importantly, ACT.”
The “It’s Time to Act” campaign also includes outreach by BRT CEOs and member companies to members of Congress and the White House, as well as social media outreach through Twitter and Facebook.
“The inaction from Washington on a range of key fiscal and tax policies represents an irresponsible abdication of duty,” said BRT President John Engler. “To improve our economy, which is still struggling to rebound, Congress and the Administration must address the immediate threats to U.S. economic growth and competitiveness. It’s time for Washington to act.”
To learn more about BRT’s “It’s Time to Act” campaign, visit brt.org/itstimetoact.
Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with more than $7.3 trillion in annual revenues and nearly 16 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development – equal to 61 percent of U.S. private R&D spending. Our companies pay $182 billion in dividends to shareholders and generate nearly $500 billion in sales for small and medium-sized businesses annually.
BRT companies give more than $9 billion a year in combined charitable contributions.