Business Roundtable

Washington – Business Roundtable Executive Director Larry Burton made the following statement in response to the agreement announced last night on the extensions of income tax relief:

“We are pleased that congressional leadership and the President have made considerable progress toward a comprehensive bipartisan agreement. It reflects a compromise by all sides to extend tax relief and help provide certainty for American workers and businesses. This tax relief – including the extension of the dividends and capital gains rate – will provide a needed boost to job creation and investment.

“We applaud the inclusion of the R&D credit and other important business tax provisions that expired at the end of 2009. These provisions include long-standing features of the tax code that businesses rely on when they undertake hiring and investment decisions. Restoration of these provisions lifts an uncertainty for businesses that will improve their ability to employ more workers and grow the economy. Additionally, an employee payroll tax reduction and an increased incentive to undertake investment in machinery and equipment in 2011 should help to assist in the recovery.”