Washington – Ahead of President Biden’s second State of the Union (SOTU) address, Business Roundtable released the following statements calling on Congress and the Administration to advance workforce development reforms, sensible regulation, a competitive tax system and other policies that will strengthen the economy and benefit the American people.
“Congress and the Biden Administration have opportunities to work across the aisle on meaningful, sound policies to preserve U.S. economic stability,” said Business Roundtable CEO Joshua Bolten. “We strongly encourage Congress and the Biden Administration to find a bipartisan path forward on the debt limit as soon as possible and not risk the full faith and credit of the United States. Failing to do so could trigger a severe recession, resulting in job losses and serious hardship for millions of American families.”
Business Roundtable Chair Mary Barra, Chair and CEO of General Motors, stated, “Business Roundtable CEOs look forward to continuing to work with policymakers on both sides of the aisle to position the U.S. economy for long-term growth and American workers for long-term success. We urge policymakers to build on the bipartisan success of legislation last Congress by working together on policies to build a 21st century workforce, reform the permitting process for energy infrastructure projects and promote a competitive tax code that provides certainty to businesses large and small.”
On Workforce Development:
“Strengthening the U.S. workforce development system to equip American workers with the skills and know-how to succeed, addressing the labor shortage and filling millions of job openings across growing industries will keep America competitive and a leader in the global economy,” said Business Roundtable Education and Workforce Committee Chair Scott Kirby, Chief Executive Officer of United Airlines. “CEOs are leading the way through individual company efforts and corporate initiatives aimed at making progress at scale. From effective efforts on skills-based employment and apprenticeships, to partnering with education and community leaders to expand workforce readiness programs and enhance the cybersecurity talent pipeline, business leaders are acting. Business Roundtable urges bipartisan congressional action to reform the federal workforce development system to help close America’s skills gap and create greater economic opportunity.”
On Sensible Regulation:
“The compounding effects of duplicative, overlapping and unnecessarily burdensome rules and regulations serve as an impediment to business’ ability to drive economic growth in communities across the country, and innovate and invest in critical infrastructure,” said Business Roundtable Smart Regulation Committee Chair Lynn J. Good, President and Chief Executive Officer of Duke Energy. “Business Roundtable advocates for a smarter, more pragmatic approach to federal regulations. We urge the Biden Administration and Congress to work together to modernize regulatory policies, like permitting reform, to help unleash our nation’s full potential.”
On a Competitive Tax System:
“Business Roundtable strongly supports a competitive, pro-growth tax environment, which encourages investment in the U.S. and generates economic growth and job creation,” said Business Roundtable Tax and Fiscal Policy Committee Chair Jon R. Moeller, Chairman of the Board, President and Chief Executive Officer of The Procter & Gamble Company. “As key provisions of the 2017 tax reform legislation are set to expire in 2025, action to ensure the competitiveness of our nation’s tax system is critical to providing the stability businesses small and large need so they can continue to invest, innovate and grow. Congress should also restore full and immediate expensing for research and development investments, which will help ensure America remains an innovation powerhouse.”
On Rules-Based Trade:
“As our allies and our competitors move forward with their own trade deals, the United States could be shut out of key markets and supply chains,” said Business Roundtable Trade and International Committee Chair Judy Marks, Chair, CEO & President of Otis Worldwide Corporation. “Business Roundtable encourages policymakers to advance a robust trade agenda to ensure U.S. companies and their workers can compete in the global economy.”