Since the beginning of the tax debate, Business Roundtable has actively opposed corporate tax increases through a multi-million-dollar advocacy effort. With your help, we have held over 300 meetings with members of Congress, facilitated nearly 200,000 constituent calls and letters to members of Congress, and deployed paid media efforts in all 50 states and over 420 media markets. These efforts --especially the direct CEO engagement with members of Congress -- have helped to improve the legislation but we know there is more work to do.
On November 19th, the House of Representatives passed the Build Back Better (BBB) Act, a $1.75T spending package that includes over $800 billion in corporate tax increases, including changes to several international provisions and the imposition of a book minimum tax. Business Roundtable issued a statement expressing disappointment on the inclusion of harmful tax increases on businesses.
The Senate is expected to take up the legislation next, with some changes in the both the tax and spending provisions expected. Business Roundtable will continue to actively oppose corporate tax increases and pressure moderate Senate Democrats to make additional changes.
For any questions, please email Nicole Vasilaros at nvasilaros@brt.org.
1. Engage Members of Congress
Please select 5 Members of Congress to personally engage from this list and share your selections with Business Roundtable. Outreach methods include:
- Conduct a Meeting
- Place a Phone Call
- Send an Email
Tax Suggested Talking Points
Business Roundtable strongly opposes the sweeping tax increases on U.S. companies included in the Build Back Better Act:
- The multiple corporate tax provisions in the legislation would impose more than $800 billion in harmful corporate tax increases—one of the largest tax increases in history, even while corporate tax revenues are already at an all-time high.
- These tax increases would erode America’s competitive standing and favor foreign competitors in China and Europe over American businesses and workers
- Among other provisions, the legislation would increase taxes on the foreign earnings of U.S. companies—putting U.S. companies who employ tens of millions of Americans at a severe disadvantage compared to their foreign competitors, none of whom pay a minimum tax on foreign earnings now and will not for many years, if at all.
- The new book minimum tax and the provisions on interest deductibility would dramatically undermine investment in the United States at a time when the U.S. needs to spur private sector investment to keep pace with competitors abroad.
- When the full ten-year cost of spending proposals is incorporated, Build Back Better will cost $4 trillion. Congress has not adequately examined the potential impacts of this legislation on already-rising inflation—which is a vital concern for American families and businesses.
Congress, say “no” to harmful tax increases and maintain America’s competitive corporate tax rate.
