Business Roundtable Urges Congress to ‘Do No Harm’ on International Tax

Cautions Proposed Changes to International Tax System Would Stifle Economic Recovery, Job Creation

Washington – Following today’s Senate Finance Committee hearing on “How U.S. International Tax Policy Impacts American Workers, Jobs, and Investment,” Business Roundtable President & CEO Joshua Bolten released the following statement:

“As business leaders work with Congress and the Administration to bring an end to the pandemic and usher in a strong economic recovery, we caution lawmakers against pursuing policies that would slow growth and job creation. Those policies include some of the proposed changes to the U.S. international tax system discussed during today’s hearing.  

“Generating long-term U.S. economic growth and opportunity for more Americans depends in part on a reliable and consistent international tax system and a competitive U.S. tax rate for companies. Tax reforms enacted in recent years are helping ensure that American companies are able to compete on a level playing field internationally, which benefits American workers. Considering the significant gains from these reforms, including historically low unemployment and higher wages, and the immediate need to shore up the economy, we urge policymakers to do no harm.

“Ensuring American companies can compete on the international stage means more companies are equipped to invest in workers back home. When companies can compete around the world, they can invest in the U.S. and create jobs for American workers. We look forward to working with Congress and the Administration to prioritize policies that enable the strongest recovery possible and sustained economic growth.”