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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.

More Than Leaders. Leadership.

Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.

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August 16, 2017

The United States Has a Real Economic Stake in Negotiations to Modernize NAFTA

 

For more than two decades, NAFTA has supported jobs and the economy in the United States. Successful negotiations to update NAFTA should expand on, not diminish, the many benefits this U.S. trade agreement has already created.

We write today to highlight an important issue to all of our organizations—the tax treatment of offshore earnings in moving to a territorial tax system. Specifically, we ask that the transition to a territorial system include a two-rate approach in taxing foreign earnings that distinguishes between short-term cash reserves and income reinvested in other assets.

The negotiations to modernize NAFTA provide an important opportunity to upgrade the agreement to improve protection and enforcement tools against the theft, discrimination and unfair treatment of U.S. property overseas.

The Honorable Steven T. Mnuchin
Secretary
U.S. Department of the Treasury
1500 Pennsylvania Avenue, NW
Washington, DC  20220
 
Dear Mr. Secretary:
 

We believe constructive shareholder engagement is vital to the successful operation of public companies. The importance of this relationship drives the need for a shareholder proposal process that is robust, productive and oriented toward long-term value creation for all shareholders. That is not the case today.

Business Roundtable believes the CEO pay ratio rule should be changed to exclude employees located outside of the United States in determining the median employee. Doing so would create a more consistent common denominator in the many variables that exist in formulating the ratio. In addition, BRT suggests that non-full time employees be exempt from the rule to provide some protection against distorted results.

Business Roundtable appreciates the opportunity to provide comments and contribute to the performance review of U.S. trade and investment agreements by the Secretary of Commerce and the United States Trade Representative.

Business Roundtable joins 23 business associations in urging the U.S. Treasury to quickly delay onerous documentation requirements required by Section 385 rules.

America’s business leaders have long called for a smarter, more effective approach to financial regulation that focuses on limiting systemic economic risk while continuing to enable U.S. businesses to innovate and grow.

The nation’s tax system is in urgent need of reform to boost economic growth, global competitiveness for American companies, and bring about meaningful improvements in the incomes of American families through higher wages and more and better paying American jobs.

Business Roundtable supports a light-touch regulatory framework for broadband Internet access (“broadband”) service, as the FCC revisits its 2015 order to classify broadband service.

H.R. 2842, the Accelerating Individuals into the Workforce Act, is a thoughtful approach for encouraging companies to hire recipients of Temporary Assistance for Needy Families (TANF).

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