Resources | Business Roundtable

Contact

  • General Inquiries
    202.872.1260
    info@brt.org
  • Mailing Address
    300 New Jersey Avenue, NW
    Suite 800
    Washington, D.C. 20001
  • Media Contact
    Betsy Andres
    Senior Director
    bandres@brt.org

Membership Contact
LeAnne Redick Wilson
Senior Vice President
​lwilson@brt.org

    

What is Business Roundtable

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.

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We respectfully request that the Administration change its policies on background ozone to better assist states as implementation of the 2015 standard moves forward.

Our members believe that informative, clear and usable disclosures are essential to thriving capital markets and place a high value on modernizing and improving disclosures in a manner that continues to provide material information to investors. We agree that a “step-back” look aimed at improving our disclosure regime is appropriate. We are concerned that immaterial line-item disclosures and duplicative disclosure requirements both burden companies and do not provide investors with information necessary to make informed decisions.

We are concerned that the proposed rule, in its current form, is overly prescriptive, could create additional tax compliance difficulties for the individuals and institutions to which it applies, and would make U.S. financial institutions less globally competitive. The proposed rule will also make it difficult for the institutions that pump capital through the U.S. and global economies to attract top talent. In addition, the proposed rule will create burdensome record keeping and corporate governance requirements.

Business Roundtable believes the approach taken in the Proposed Regulations exceeds the regulatory authority granted to Treasury by Congress under Section 385. Further, the Proposed Regulations are inconsistent with fundamental principles of U.S. tax law, prior regulatory guidance, case law precedents, and Congressional intent.

Business Roundtable has been actively engaged with lawmakers to ensure CTE programs are updated in a way that works for all stakeholders in the system, from students to the business community.

June 27, 2016

Meredith Miller
U.S. Department of Education
400 Maryland Avenue, SW
Room 3C106
Washington, DC  20202-2800

Dear Ms. Miller:

If the TPP is not approved this year, the United States will jeopardize a huge opportunity for U.S. growth, jobs and leadership.

Deeper collaboration among Canada, Mexico, and the United States should focus on improving our international competitiveness, supporting economic growth and jobs in our countries, facilitating the legitimate movement of people, goods, services, capital, and energy between our countries, and addressing emerging challenges such as cybersecurity.

Business Roundtable released the Q2 2016 CEO Economic Outlook Survey. Capex & hiring expectations are up, but GDP outlook remains weak.

Business Roundtable believes the proposed documentation requirements are excessive and have been proposed without adequate consideration of their costs and alternative, less costly procedures.

Business Roundtable has strong concerns about the potential business disruption, significant breadth of impact, and adverse consequences caused by the proposed regulations. Because of these concerns, and the immediate effect of the new rules, I urge Congress to require the Treasury Department to take three immediate actions: (1) extend the comment period by at least 90 days (to October 5, 2016); (2) change the effective date; and (3) provide a thorough and complete economic analysis prior to considering finalizing the regulations.

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