Washington – Ahead of President Biden’s first State of the Union address, Business Roundtable called for bipartisan efforts to address lasting impacts of the pandemic, support Ukrainian sovereignty and security and stability in Europe, and enact policies to better enable the U.S. to compete globally.
“We face unprecedented challenges that require bold solutions. Business Roundtable is committed to working with the Biden Administration and both parties in Congress to preserve U.S. economic strength and global leadership and to expand opportunity for all Americans,” said Business Roundtable Chair Mary Barra, Chair and CEO of General Motors. “We will continue to work to address pandemic-related challenges, including labor market and supply chain disruptions, and to advocate for sound economic policies that position the United States to compete and thrive over the long term. We believe there are many opportunities to work with policymakers of both parties to advance policy solutions that meet the needs of our country, U.S. businesses, workers and families over the year to come.”
“In recent days, the United States has cooperated commendably with our closest allies in support of Ukrainian sovereignty,” said Business Roundtable CEO Joshua Bolten. “Business Roundtable welcomes the bipartisan commitment to preserving European security and stability and the rule of law.”
Bolten continued: “Despite substantial uncertainty in the economy, exacerbated by inflation, supply chain challenges and the crisis in Europe, we see important opportunities for policymakers to strengthen the U.S. economy for the long term. Those include enacting CHIPS funding, supporting the production of more energy domestically, and promoting competitive tax and regulatory regimes. We oppose policies that would stifle U.S. economic leadership, including burdensome government regulations and harmful tax increases on job creators.”
“Business Roundtable supports competitive tax policy that will benefit the U.S. economy as a whole—including American workers,” said Business Roundtable Tax and Fiscal Policy Committee Chair Gregory J. Hayes, Chairman and Chief Executive Officer of Raytheon Technologies Corporation. “We urge the Administration and Congress to focus on expanding pro-innovation, pro-competition policies like extending immediate expensing for R&D.”
“A dynamic and prosperous U.S. economy demands a smart, efficient approach to regulation that protects American workers and our environment while also promoting innovation, economic growth and job creation,” said Business Roundtable Smart Regulation Committee Chair Lynn J. Good, Chair, President and Chief Executive Officer of Duke Energy Corporation. “We urge the Biden Administration and Congress to prioritize policies and regulations that help—rather than hinder—U.S. companies to compete and lead around the world. This includes implementation of the bipartisan Infrastructure Investment and Jobs Act, which represents a transformational opportunity to position our nation for the next century, while creating jobs and addressing climate change.”
Energy Security and Climate Change
“Access to sustainable, reliable, affordable energy is fundamental to preserving U.S. economic leadership, combatting climate change and protecting our national security, especially in light of the momentous crisis in Ukraine. Business Roundtable companies are working to reduce their own carbon emissions and develop and scale technologies for use in the global transition to a greener economy,” said Business Roundtable Energy and Environment Committee Chair George R. Oliver, Chairman and CEO, Johnson Controls. “As that work continues, Business Roundtable supports congressional action to invest in programs and incentives to both increase clean energy production at home and reduce greenhouse gas emissions.”
Business Roundtable also called on the Administration to pursue a proactive trade agenda.
“Trade supports over 41 million American jobs and drives long-term U.S. innovation, growth, and opportunity. In the face of a rapidly changing competitive environment, the United States needs a comprehensive international trade and economic agenda,” said Business Roundtable Trade and International Committee Chair Lance Fritz, Chairman, President and Chief Executive Officer of Union Pacific Railroad.
“Business Roundtable urges the Biden Administration to pursue an ambitious Indo-Pacific Economic Framework initiative to complement efforts to expand trade and economic ties across the Atlantic, the Western Hemisphere and with key allies and trading partners around the world. U.S. trade and economic leadership will expand the substantial benefits of trade to more American businesses, farmers, workers and families.”
Business Roundtable companies reiterated their commitment to ensuring greater opportunity for American students and workers.
“The challenges of the past two years have demonstrated the importance of a well-prepared and resilient U.S. workforce—one that is capable of adapting to rapid change in a competitive global economy,” said Business Roundtable Education and Workforce Chair Scott Kirby, Chief Executive Officer of United Airlines. “Business Roundtable CEOs—who employ more than 20 million people across all 50 states—believe strengthening U.S. education and workforce development is critical to opening pathways to good-paying careers and upward mobility for more Americans.
“Public-private sector collaboration is essential to meet these objectives and keep U.S. businesses globally competitive. The U.S. needs policy reforms, such as expanding eligibility for Pell Grants, that equip more students and workers with the skills, training, and work-based learning needed for the jobs of today and tomorrow. Together, these policy reforms coupled with business-led efforts, like the Business Roundtable Multiple Pathways Initiative and Workforce Partnership Initiative, will help close America’s skills gap and advance broader economic opportunity in communities across the country.”