Advancing America in the Global Economy | Business Roundtable

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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.

The Facts on Tax Reform

Countries around the world have focused on driving increased investment, growth and job creation by lowering their corporate tax rates and modernizing international tax rules. The United States stands as an exception to this worldwide trend at a time when U.S. businesses face unprecedented global competition.

America is in urgent need of  tax reform to increase growth and provide greater economic opportunity for all Americans.

U.S. Corporate Tax Policy is Out of Step

The U.S. effective tax rate – what businesses actually pay – is among the world’s highest, and America is the only G7 country with a worldwide tax system on foreign earnings.

39%

U.S. has the highest corporate tax rate among industrialized countries at 39%.

1,300

With a 25% corp. tax rate, the US would have added or retained 1,300 US-based companies over the past 10 years.

28%

decline in U.S.-headquartered companies in the Fortune 500 due in part to anticompetitive U.S. tax policy.

Up to 75%

of the corporate income tax burden is borne by U.S. workers.

America's Competitors Benefit from Territorial Tax Systems

The U.S. is the only G7 nation with a worldwide tax system on foreign earnings. Others and 28 of the 34 OECD nations use territorial.

71 Million

The number of American jobs supported by U.S. globally engaged companies.

$30 Trillion

Annual consumption in emerging markets is expected to grow to $30T over next 10 years.

2.2%

GDP would increase 2.2% after 10 years when the U.S. leads on tax reform.

Tax Reform Would Boost U.S. GDP, Wages and Investment

In the long run, all Americans would benefit from pro-growth tax reforms.

3.8%

after-tax wage boost for American workers after 10 years once Congress enacts tax reform.

6.5%

jump in investment from businesses in 10 years after tax reform.

Download the Full Report

This primer on tax reform focuses on the corporate income tax system and the changes needed to update the corporate income tax to allow American companies and their workers to be competitive in markets both at home and abroad and improve U.S. economic growth, which will result in higher wages and increased job creation in the United States. 

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