Washington, D.C. – Business Roundtable today issued the following statement applauding passage of legislation amending H.R. 1, the Tax Cuts and Jobs Act, by the U.S. Senate:
“We congratulate members of the Senate for their historic achievement in passing tax reform that will boost our economy and benefit American workers,” said Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co. and Chairman of Business Roundtable.
“The Senate vote today for structural tax reform makes the prospect for monumental changes to business taxation in the U.S., and middle-income tax relief, much more likely,” said Mark A. Weinberger, Global Chairman and CEO of EY and Chair of the Business Roundtable Tax and Fiscal Policy Committee. “Passage of this bill will make U.S. companies more competitive, and increase investment by both U.S. and foreign businesses, resulting in higher spending on capital equipment, and growth in U.S. jobs and wages.”
“We thank Senators for demonstrating their commitment to supporting American workers and their families by passing pro-growth tax reform legislation that includes a competitive corporate tax rate and a shift to a territorial tax system,” said Joshua Bolten, President & CEO of Business Roundtable. “This will allow businesses to compete on a level playing field, increase capital investment, create jobs, and raise wages. But the task is not yet done. Business Roundtable encourages Congress to deliver a final bill to the President’s desk before the end of 2017.”