An influential business group is readying to spend aggressively in preparation for upcoming legislative battles next year. The Business Roundtable, a powerful organization representing CEOs of some of the largest U.S. companies, announced that it plans to invest “eight figures” in efforts to protect and strengthen tax reform. This will be one of the largest spending efforts in the group’s 52-year history, as they gear up to make a significant push to influence the outcome of the tax reform discussions in Congress.
Cisco CEO Chuck Robbins, who chairs the Business Roundtable, outlined the group’s top priorities for the upcoming legislative discussions on taxes. These priorities include keeping the corporate tax rate at 21%, maintaining a competitive international tax system, and enhancing incentives for domestic innovation, such as immediate expensing for research and development spending by US companies.
Business Roundtable CEO Joshua Bolten emphasized that their main goal is to maintain a competitive tax system that supports the growth and innovation of companies in the United States. While he did not provide specific details about their spending plan, Bolten stressed that they are determined to have a strong voice in shaping tax policy that benefits businesses and consumers alike.
The Business Roundtable’s efforts come as Congress prepares to decide whether to renew parts of the GOP’s 2017 tax cuts that are set to expire. The group has been actively advocating for these changes since they were first introduced, and they are confident that their message will resonate with lawmakers as they work on this critical piece of legislation.
