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.
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.
The proposed guidance, which overturns long-standing tax principles and well-established case law and regulations, will significantly increase the cost of doing business in the United States, and create further obstacles to much needed investment, job creation and economic growth.
Business Roundtable’s interest in CbC reporting stems from the fact that the information requested in these reports includes sensitive competitive business information. Safeguarding the confidentiality of this information is key, which the Treasury’s proposed CbC reporting regulations recognize by providing the same confidentiality protection to CbC reports as to other tax return information.
Business Roundtable believes that investors are entitled to the information necessary to make effective investment and voting decisions to advance a company’s long-term interests. Directors serve a vital role in overseeing a company’s business and management, and information relating to directors’ outside compensation arrangements is important to investors. Accordingly, we join NASDAQ’s call for enhanced transparency on this subject.
Increasing the ability of American businesses and their U.S. workers to compete in foreign markets provides immediate benefits to the U.S. economy.
Equal Employment Opportunity Commission
131 M Street, NE
Washington, D.C. 20507
Dear Chair Yang:
Re: AGENCY INFORMATION COLLECTION ACTIVITIES: REVISION OF THE EMPLOYER INFORMATION REPORT (EEO-1) (EEOC-2016-0002-0001)
Business Roundtable supports NASDAQ’s efforts to require disclosure of third-party compensation for directors and director nominees.
The following joint statement was submitted to the Senate Judiciary Committee, Subcommittee on Immigration and National Interest, for a Feb. 25, 2016 hearing, "The Impact of High-Skilled Immigration on U.S. Workers."
For more than 80 years, income tax treaties have played a critical role in fostering U.S. bilateral trade and investment and protecting U.S. businesses, large and small, from double taxation of the income they earn from selling goods and services in foreign markets.
The importance of these tax provisions cannot be overstated. Many are longstanding features of the business and individual tax systems – including items such as the research and development credit, bonus depreciation, and international provisions that help U.S. companies compete in foreign markets; and all of which companies count on in formulating investment plans and budgets.
Dear Mr. President:
Passage of this legislation would mark a historic moment in our nation’s longstanding commitment to ensuring all students are ready to succeed in college, career or military service.