Tax & Fiscal Policy | Page 8 | Business Roundtable


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What is Business Roundtable

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.

More Than Leaders. Leadership.

Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.

About BRT

Business Roundtable supports tax and budget policies that promote U.S. business investment, competitiveness and job creation. Specifically, the Committee focuses on pro-growth reform of domestic and U.S. international tax rules and advocates for slowing the growth of federal spending to stabilize federal debt and achieve long-term fiscal sustainability.

The Top Line: A Resilient Economy with 215,000 Jobs Added in March

The labor market showed resiliency in March despite continued global headwinds, according to the Bureau of Labor Analysis' economic situation summary released today. Non-farm payrolls added 215,000 jobs, while the average hourly workweek held steady and wage growth ticked up. Finally, the slight uptick in March’s unemployment rate – from 4.9 percent to 5 percent – was coupled with an increase in the labor force participation rate, suggesting that sustained labor market gains may be drawing more Americans into the labor force.

CEO Survey Shows Economy Stuck on Slow, TPP Would Boost Growth

U.S. GDP will grow just 2.2 percent in 2016, according to results of Business Roundtable's Q1 CEO 2016 Economic Outlook Survey released today, dropping from last quarter's projection of 2.4 percent.

The Top Line: Robust Hiring as U.S. Economy Adds 242,000 Jobs in February

Robust job creation returned in February after the pace of hiring slowed in January. The labor market added 242,000 jobs to nonfarm payrolls and the unemployment rate held steady at 4.9 percent. However, average weekly hours fell and wages declined after accelerating in January.

For more detail, see The Top Line analysis below.

The Top Line: 1 Percent GDP Growth in Fourth Quarter of 2015

The U.S. economy grew by 1.0 percent in the fourth quarter of 2015, the Commerce Department announced today, revising its estimate up from 0.7 percent. The growth is down from 2 percent in the third quarter. Modest growth in consumer spending and strong residential investment were partially offset by a reduction in business investment and exports. Despite a slowdown in the second half of 2015, economic growth averaged 2.4 percent for the full year – the same growth rate as 2014 and above the 2.1 percent average rate for the six years following the recession.

BRT Statement on House Ways and Means Committee Hearing on the Global Tax Environment

Business Roundtable supports the Ways and Means Committee’s efforts to address our broken tax system, and we look forward to working with them in a constructive way.

Business Roundtable Statement On The President’s FY 2017 Budget

The President’s FY 2017 budget continues to demonstrate the bipartisan support for a more competitive corporate tax rate. American workers bear as much as 75 percent of the corporate tax rate today through lower wages.

BRT Letter to Senate Leadership on Tax Treaties

For more than 80 years, income tax treaties have played a critical role in fostering U.S. bilateral trade and investment and protecting U.S. businesses, large and small, from double taxation of the income they earn from selling goods and services in foreign markets.

The Top Line: GDP Growth Dips in Final Quarter, Stays at 2.4 Percent for 2015

The U.S. economy grew by 0.7 percent in the fourth quarter of 2015, below expectations and down from 2 percent in the third quarter. For the full year, GDP growth was 2.4 percent.

SOTU Address: Work Together to Support Jobs and Economic Growth

Congress and the Obama Administration ended 2015 on an up note, with bipartisan cooperation producing new laws supporting economic growth and employment. In tonight’s State of the Union President Obama should build on those successes with an offer to continue working with Congress on those same priorities.

The Top Line: Year Ends with Solid Job Growth in December

The U.S. labor market closed out the year with solid job growth in December, making Q4 the best quarter for payroll growth in 2015. This month’s solid jobs numbers, 5 percent unemployment rate, and slight uptick in labor force participation may soothe concerns about a U.S. slowdown in the face of global headwinds, although relatively sluggish wage growth may heighten concerns about reaching the Fed’s targeted 2 percent inflation rate. For more detail, see The Top Line report below.


Committee Priorities

Tax reform for all businesses is fundamental to strengthening the U.S. economy and ensuring that American workers and American companies can successfully compete around the globe. A modernized U.S. tax system with competitive tax rates and competitive international tax rules would promote growth through greater investment, higher wages and more jobs in the United States.

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Achieving Sound Fiscal Policy

Business Roundtable supports sound fiscal policy by urging Congress to pass annual budgets on time; appropriate funds early enough in the legislative session to avoid disrupting government operations; follow an orderly process to allow for required borrowing; and strengthen entitlements for the long haul.