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BRT Chairman McNerney: 'What Business Wants From Washington'

Oct 31, 2011

In a Wall Street Journal op-ed today, "What Business Wants From Washington." (subscription) Business Roundtable Chairman Jim McNerney, president, chairman and CEO of Boeing, identifies policy priorities to strengthen the U.S. economy and create private-sector jobs.

In the view of business, America retains tremendous strengths. But absent a clear change in course, no one should be surprised if some companies ultimately invest abroad, creating jobs beyond our borders that could have been based here. This doesn't have to happen, but an increasingly skeptical business community needs proof Washington can put America on a sustainable fiscal footing and promote economic growth.

The work of the Joint Select Committee on Deficit Reduction is a critical first step, and business is watching this "supercommittee" to succeed as a "key indicator" whether political leaders can deliver, McNerney argues. He continues:

For the good of the nation, our elected leaders must now find it within themselves to pass sound laws, regulate judiciously, and put aside escalating tactical political battles. If the super committee succeeds, the White House and Congress should build on the momentum and:

• enact comprehensive, pro-growth tax reform that benefits everyone;

• proceed with regulatory reform; and

• reform and restructure existing entitlement programs.

In a letter from John Engler, BRT president, Business Roundtable last week urged members of the deficit-reduction panel to meet and exceed its statutory goals.

We fully respect that decisions of this magnitude are extremely controversial and politically difficult. The bottom line, however, is that America has no choice.  We can no longer delay the tough decisions by shouldering future generations with our debt.  The Joint Select Committee has been given a remarkable amount of discretion, power and responsibility. We are confident in your commitment and ability to achieve success.

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