Business Roundtable Statement on President Biden’s FY 2025 Budget Proposal

Washington – Business Roundtable CEO Joshua Bolten today issued the following statement on President Biden’s fiscal year (FY) 2025 budget proposal:

“The Administration has continued a troubling trend with its FY 2025 budget: proposing job killing tax increases on American employers. Business Roundtable strongly opposes this proposal and all tax hikes that make American businesses and workers less globally competitive.

“America’s competitiveness is dependent on a tax system that encourages companies to invest here at home. Today, corporate inversions have ground to a halt and corporate tax revenues are near record highs. The last thing we should do is go backward by over-taxing American businesses and driving them overseas.

“Business Roundtable stands ready to work with Congress and the Administration to preserve our pro-growth, pro-worker, globally competitive tax system. Passing the Tax Relief for American Families and Workers Act would be a positive first step.”