“President Obama’s proposed budget undermines the goals he stated in last week’s State of the Union address. Raising taxes on workers and businesses would impede U.S. competitiveness, making it virtually impossible to meet his target of doubling exports. As CEOs leading the economy back to a path of growth, our members are concerned that President Obama’s proposed international tax increases on U.S. companies will impede economic growth and make it harder to create jobs and lower America’s double-digit unemployment rate.

“The President has argued that ‘the true engine of job creation in this country will always be America's businesses.’ We couldn’t agree more. But to create new and better-paying jobs, American companies must have the flexibility to compete both here and abroad – where 95 percent of the world’s consumers are.

“Worst of all, the Administration’s proposals would tie the hands of American workers and companies just as our major foreign competitors are creating tax plans to enhance their international competitiveness. Now, more than ever, we simply cannot afford to gamble away economic recovery and job creation on risky tax increases,” said John J. Castellani, President of Business Roundtable.