As the nation’s leading organization of CEOs, Business Roundtable strongly endorses the conference report on H.R. 1, the Tax Cut and Jobs Act of 2017. We urge the House to pass this legislation quickly.
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Business Roundtable sent the following letter to all Members of the Senate urging support of the Tax Cuts and Jobs Act.
Dear Member of the United States House of Representatives:
Business Roundtable urges you to vote in favor of H.R. 1, Tax Cuts and Jobs Act.
September 19, 2017
The nation’s tax system is in urgent need of reform to boost economic growth, increase global competitiveness for American companies, and bring about meaningful improvements in the incomes of American families through higher wages and more American jobs.
We write today to highlight an important issue to all of our organizations—the tax treatment of offshore earnings in moving to a territorial tax system. Specifically, we ask that the transition to a territorial system include a two-rate approach in taxing foreign earnings that distinguishes between short-term cash reserves and income reinvested in other assets.
The Honorable Steven T. Mnuchin
Secretary
U.S. Department of the Treasury
1500 Pennsylvania Avenue, NW
Washington, DC 20220
Dear Mr. Secretary:
Business Roundtable joins 23 business associations in urging the U.S. Treasury to quickly delay onerous documentation requirements required by Section 385 rules.
The nation’s tax system is in urgent need of reform to boost economic growth, global competitiveness for American companies, and bring about meaningful improvements in the incomes of American families through higher wages and more and better paying American jobs.
June 8, 2017
Now is the time to shift from listening to action. We urge you to undertake this effort with the highest priority and move forward with pro-growth legislation that will put America on a path of accelerated economic growth with higher wages and greater employment opportunities for all Americans.
The regulations effectively increase tax burdens, impede economic growth, and saddle American businesses with onerous fines, complicated forms, and frustration.
September 16, 2016
Business Roundtable sent the following letter to leaders of 28 European Union member states, calling on the EU to overturn the European Commission's order that Ireland recover €13 billion from Apple for alleged illegal state aid.
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.