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.
America’s business leaders have consistently called upon Congress and the Administration to adopt smarter, more effective approaches to financial services regulation that target systemic economic risks without limiting business creativity and innovation.
Business Roundtable believes passage of your legislation can play a key role toward addressing this mismatch by supporting state and local efforts to build talent pipelines that provide students and workers the skills they need to succeed in today’s workforce.
With every passing day, businesses from the United States are missing out on new business opportunities overseas, to the detriment of local economies and American jobs. Congress can and must act swiftly.
Currently, federal financial aid does too little to support students who are older, returning to school, or seeking specific skills and credentials for work. These students, who may be employing strategies such as combining work and learning, accelerating their time to degree, and/or attending school part-time and year-round, need this flexibility to more successfully persist and complete their program of study.
Reinstating year-round Pell would provide that flexibility, allowing students to receive Pell throughout the entire academic year. Adopting this policy would more formally recognize that the needs of today’s low- income students are inadequately served by the current Pell Grant program.
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
U.S. Department of Education
400 Maryland Avenue, SW
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.