The Honorable Harry Reid
Majority Leader
United States Senate
The Honorable Mitch McConnell
Minority Leader
United States Senate
The Honorable John Boehner
Speaker
U.S. House of Representatives
The Honorable Nancy Pelosi
Minority Leader
U.S. House of Representatives
Dear Leaders:
During the final weeks of the 113th Congress, America’s business leaders urge Congress and the Administration to work together to fund government operations, extend expired tax provisions, and pass updated Trade Promotion Authority (TPA). Doing so will help generate the investment, growth, and jobs our entire economy needs.
The results of the third quarter Business Roundtable 2014 CEO Economic Outlook Survey make it clear why Congress must take action now to continue to improve the climate for business investment and expansion. In that survey, America’s CEOs forecast continued weak economic growth and job creation absent action from Washington. To spur growth, we call on you to:
1) Ensure Fiscal Stability
Congress should fund the operations of government for the current fiscal year in a prudent and budget-conscious way, while avoiding any damaging fiscal showdowns.
2) Restore Expired Tax Provisions
Congress should seamlessly extend or make permanent important business tax provisions that expired on December 31, 2013, particularly the research credit, the active financing and look-through rules, and the 50 percent expensing provision for business investment. Making pro-growth tax provisions permanent will promote U.S. competitiveness and spur investment and hiring.
3) Update Trade Promotion Authority (TPA)
Congress should pass updated TPA to strengthen U.S. negotiators’ hands and help achieve solid outcomes for American companies, workers, and farmers in trade negotiations.
The U.S. economy is poised for sustained expansion, but it needs Congress and the Administration to act on policies that will drive increased business investment, more robust GDP growth and accelerated hiring. America’s business leaders urge action this year on the above measures not only to help boost the economy but also to enable the next Congress to begin immediate consideration of a growth agenda that includes tax reform, energy policy, immigration reform, trade expansion, and infrastructure investment.
Sincerely,
Randall L. Stephenson
Chairman and Chief Executive Officer
AT&T Inc.