December 18, 2013

Dear Members of the United States Congress:

On behalf of the 208 chief executive officers who are members of the Business Roundtable, I want to thank the House and Senate for passing the Bipartisan Budget Act of 2013.

By enabling the U.S. government to operate responsibly within the confines of an approved budget, the enacted budget agreement will promote the fiscal stability that U.S. businesses need to invest, grow and hire. Business activity and economic recovery are hindered by policy uncertainty, so this budget deal is a much‐needed and appreciated step.

Congress can build on the success of this budget agreement by taking action on other needed measures to boost the economy. These include enacting comprehensive tax reform, fixing America’s broken immigration system and passing updated Trade Promotion Authority legislation to advance U.S. trade agreements.

In the near‐term, Congress should also continue to work together in a bipartisan manner to complete the appropriations process, address the debt ceiling and extend long‐standing tax policies that expire on or before December 31, 2013, as a bridge to tax reform.

We stand ready to assist on these critical issues.

Sincerely,

Randall L. Stephenson

Chairman and Chief Executive Officer, AT&T Inc.

Chairman‐elect, Business Roundtable