Washington – “The vote in the House today approving nearly $10 billion in new taxes on American companies with overseas operations is a counterproductive move that will only hurt future U.S. economic growth and job creation.

“Keeping American companies and workers competitive should be the number one goal of U.S. tax policy. However, with today’s vote, Congress has now added to the growing disparity between the tax policies of the United States and most other major world economies.

“American companies with worldwide operations directly employ 22 million American workers and support an additional 41 million U.S. jobs through their supply chain and through the purchases of goods and services by their employees. Further tax hikes will hinder the ability of these companies to protect and create American jobs and will slow our nation’s economic recovery.

“Business Roundtable urges an immediate and broader, bipartisan conversation on comprehensive corporate tax reform that will enhance the competitiveness of American companies and workers. We need to focus on job creation and growth, not taxes that diminish U.S. competitiveness,” said Johanna Schneider, Executive Director, External Relations of Business Roundtable.