Business Roundtable strongly opposes harmful tax increases that would erode America's competitive standing.
The multiple corporate tax changes Congress is considering would impose $800 billion in harmful tax increases on America’s job creators—one of the largest tax increases in history at a time when the federal government is receiving record levels of revenue from U.S. businesses.
Current proposals would:
• Put U.S. businesses who employ tens of millions of Americans at a severe disadvantage compared to foreign competitors, none of whom pay a minimum tax on foreign earnings now and will not for many years, if at all.
• Undermine investment in America at a time when the U.S. needs to spur private sector investment to keep pace with competitors abroad.
• Increases economic risk when the COVID pandemic, rising inflation and supply chain disruptions continue to create unprecedented challenges for American businesses, families, and communities.
Congress should reject harmful tax increases that would threaten America’s global competitiveness.