Washington - Business Roundtable CEO Joshua Bolten released the following statement after the House Budget Committee advanced a fiscal year 2025 budget resolution with reconciliation instructions to extend and strengthen the Tax Cuts and Jobs Act (TCJA):
“Business Roundtable commends the House Budget Committee for taking a significant first step toward extending and strengthening President Trump’s signature tax reform. With most of the TCJA reforms set to expire at the end of this year, we urge the House to take the next step in advancing a comprehensive, pro-growth tax package by swiftly passing the budget resolution.
“TCJA leveled the playing field for U.S. companies, helping to stop large companies from relocating their headquarters abroad and increasing domestic business investment by 20%. In just the first two years after tax reform, large U.S. companies created more than 500,000 new American jobs, and real median household income grew by more than $6,000.
“As the reconciliation process continues, we stand ready to work with both chambers of Congress to protect and boost the economic benefits that TCJA delivered for American businesses, workers and families.”