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. For example, we must promptly ratify and pursue more trade agreements, enact comprehensive tax reform and reevaluate excessive and expensive regulations.
“At the same time, we also urge a careful review of all new spending proposals mentioned tonight. As Chairman Paul Ryan made clear in his response, American prosperity depends on our ability to simultaneously manage down the debt and deficit as we work to boost competitiveness. This work must build on the outline suggested by the President’s own National Commission on Fiscal Responsibility and Reform.
“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 (BRT) 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. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $114 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay more than $179 billion in dividends to shareholders and generate an estimated $1.5 trillion in sales for small businesses annually.
BRT companies give nearly $9 billion a year in combined charitable contributions.