Dear Mr. President:

Business Roundtable, an association of Chief Executive Officers of leading companies, is committed to promoting sound public policy and a thriving U.S. economy. We make capital investments and other significant business decisions every day based on the current economic and legal environment.
These decisions become difficult when there is uncertainty in our tax laws. In 2015, this problem was exacerbated with the expiration at the end of last year of more than 50 tax provisions.

We are deeply encouraged by efforts between Congress and the Administration to build on the success of the “Bipartisan Budget Act of 2015” by working together on a seamless, permanent tax extenders agreement that would boost families, charitable organizations, and businesses across America. We urge you to complete action on such an agreement as soon as possible.

The importance of these tax provisions cannot be overstated. Many are longstanding features of the business and individual tax systems – including items such as the research and development credit, bonus depreciation, and international provisions that help U.S. companies compete in foreign markets; and all of which companies count on in formulating investment plans and budgets. Extending such provisions will enhance the competitiveness of U.S. businesses, grow the economy, and boost investment, employment, and wages.

Business Roundtable believes that such long-term extensions will not only provide necessary certainty for business decisions, but also serve as a bridge to future comprehensive tax reform legislation.  Modernizing our outdated tax laws through tax reform is the ultimate solution for making our system more competitive, and for making the United States more attractive for business investment and job creation.

We look forward to working with Congress and the Administration on the prompt passage of a long-term tax extenders agreement.

Sincerely,

Mark A. Weinberger 

Global Chairman and CEO

EY

Chair, Tax and Fiscal Policy Committee Business Roundtable

MW/mm

C: Jack Lew, Secretary of the U.S. Department of Treasury 

Jason Furman, Chairman of the Council of Economic Advisors

Jeffrey Zients, Director of the National Economic Council