Washington - Business Roundtable President & CEO Joshua Bolten today released the following statement on the Administration’s Build Back Better Framework:
“Business Roundtable opposes the harmful corporate tax increases on America’s job creators proposed in the Build Back Better Framework. Together these proposals would impose $800 billion in tax increases on businesses, one of the largest tax increases in history. Among other harmful provisions, changes to international tax policy would aggravate the serious competitive disadvantage faced by U.S. companies relative to their foreign competitors, none of whom pay a minimum tax on earnings abroad. Congress should not agree to these changes unless and until our major competitors adopt their own comparable rules.
“While we believe there are areas that merit investment from Congress, including climate change, the significant corporate tax increases in the Build Back Better Framework would seriously undermine U.S. growth, competitiveness and jobs and make it harder for companies to invest in innovation and workers.”