Business Roundtable

February 07, 2012

The Honorable Max Baucus
Chairman
Committee on Finance
United States Senate
Washington, DC 20510

The Honorable Orrin Hatch
Ranking Member
Committee on Finance
United States Senate
Washington, DC 20510

Dear Chairman Baucus and Ranking Member Hatch:

Business Roundtable (BRT), the association of chief executive officers of leading U.S. companies, encourages Congress to pass a multi-year surface transportation bill.  While reauthorization is an urgent priority, BRT strongly opposes the $2-3 billion retroactive and punitive tax increase included in the February 3^rd Chairman’s Mark of the Highway Investment, Job Creation and Economic Growth Act of 2012 and as revised in the Modified Chairman's Mark.  We call on the Senate Finance Committee to adhere to sound tax policies that enhance economic certainty and make the United States a more competitive location to attract investment and employment.

As a matter of sound tax policy, BRT opposes singling out specific companies or industries for higher taxes or other significant revenue offsets intended for unrelated purposes.  Such measures disrupt and distort business and investment decisions to the detriment of the U.S. economy.  Moreover, the retroactive tax increase included in this Mark would overturn previously established tax policy relied upon in past business planning and investment decisions. 

Accordingly, we urge Members of the Senate Finance Committee to oppose any and all retroactive and punitive tax increases. 

Sincerely,

 

John Engler

JE/dr

C: The United States Senate Finance Committee