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Business Roundtable Recommends Plan for Targeted Economic Stimulus

Washington, D.C. – As Congress considers an economic stimulus package, Business Roundtable today presented a series of legislative priorities that it said must be part of such legislation in order to create jobs, boost consumer demand and restore economic growth.

In remarks made today at the National Press Club, where he presented Business Roundtable‟s priorities, Harold McGraw III, Chairman of Business Roundtable and Chairman, President and CEO of The McGraw-Hill Companies, also stressed the importance of Congress finalizing a bill to stem the loss of jobs.

“We strongly support the quick passage of legislation now before Congress,” said Mr. McGraw. “Business Roundtable believes the stimulus bill should meet the criteria originally set for it: it should be timely, temporary and targeted. We would add that it should also be 'transformative,' laying the groundwork for growth and jobs that meet the requirements of a 21st century economy.”

Mr. McGraw outlined five policy initiatives essential to helping create jobs and boost consumer demand:

  • Education and workforce training programs;
  • Tax relief for workers and consumers;
  • Targeted infrastructure investment;
  • A plan to revive the housing market; and
  • Actions to stimulate business investment.

“Business Roundtable‟s highest priority is, and has always been, to grow the U.S. economy and produce jobs, so that all Americans can enjoy better lives,” added Mr. McGraw. “We have two messages to Congress. First, our economy is deteriorating faster than we had imagined possible three months ago, and swift action is imperative. Second, success of the final bill will be determined by execution.”

The policy proposals, which are highlighted in the organization‟s newly published document, “Effective Leadership on the World Stage: CEO Memos to Congress,” will be delivered to members of Congress today.

In addition to outlining a stimulus blueprint, Business Roundtable‟s agenda outlined in “CEO Memos to Congress” explores changes to policies, structures and the economy that must be addressed if America is to compete, succeed and grow throughout the 21st century. Notably, Business Roundtable‟s recommendations address health care, energy and workforce policies.

“We pledge to work with the president, the president‟s team and Congress to ensure the stimulus achieves its goals,” concluded Mr. McGraw. “We must ensure the work does not end with a bill signing, but with jobs being filled and projects completed in an efficient and cost effective manner.”

The full content of “Effective Leadership on the World Stage: CEO Memos to Congress,” is available here.

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