Dear Members of the United States Senate:

 

Business Roundtable (BRT) urges you to vote against S. 2204 -- scheduled for floor consideration today -- because of the discriminatory nature of the tax increases contained in that legislation and the harmful repercussions for the economy and job growth stemming from such discrimination.

BRT believes that a stable, reliable, equitable, and nondiscriminatory tax system that provides a level playing field is essential for long-term economic growth.

 

S. 2204, by contrast, contains discriminatory tax increases targeted exclusively to five taxpayers, selected among tens of thousands of similarly situated taxpayers in the oil and gas industry.

 

Businesses that undertake job-creating, long-term investments depend on a stable and fair tax code. Enactment of discriminatory legislation like that contained in S. 2204 would only serve as a signal to businesses that their job-creating investments are not welcome in the United States. Loss of investment would permanently stifle growth of the economy and severely prolong this nation's slow job recovery.

 

We applaud leadership in both the House and the Senate for their desire to extend important expired tax provisions from last year and welcome hearings to review these provisions so that they can be considered on their own merits. While S. 2204 would extend many expired energy provisions, BRT believes it is unfair and harmful to the economy to do so by selectively targeting five taxpayers to pay for this extension.

 

We urge you to vote against this legislation and look forward to working with you in a constructive manner to extend the important expired business provisions from last year as expeditiously as possible to ensure continued job growth and a healthy economic recovery.

 

Sincerely,

 

John Engler

JE/mm