Published: January 26, 2011
Washington– “Business Roundtable is heartened by President Obama’s focus on American competitiveness. U.S. job creation and long-term growth depend on a robust economic climate. The priorities laid out tonight by the President must now be analyzed closely to ensure they will promote, rather than stifle, an environment where the private sector can create jobs and expand the economy.
“In our comprehensive economic plan released in December, the Roadmap for Growth, our member CEOs outlined several priority areas where immediate action is needed. The Roadmap can help advance the President’s goal of increasing U.S. competitiveness.
“We were pleased that the President was squarely focused on the need for comprehensive tax reform. Today, the U.S. has a non-competitive international tax system, and our companies will soon pay the highest rate among all developed countries. We need to redesign the system so it addresses the hyper-competitive global marketplace. A stable, reliable, equitable and non-discriminatory tax system that provides a level playing field is essential for long-term economic growth and job creation.
“Since November, President Obama has taken important steps – including his recent order for a comprehensive regulatory review – signaling that he is ready to change direction and focus on what is necessary to drive a vigorous recovery with job opportunities for American workers. We look forward to continuing our work with the Administration and Congress on policies that will make our nation more competitive, more innovative and more prosperous,” said Business Roundtable President John Engler.
Business Roundtable is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 13 million employees. Business Roundtable member companies comprise nearly a third of the total value of the U.S. stock markets, invest more than $114 billion annually in research and development – nearly half of all private U.S. R&D spending, pay more than $179 billion in dividends to shareholders and the economy and play a significant role in the competitiveness of small businesses, serving as key customers of their goods and services and providing them with access to world markets.
Business Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving.