Natalie Gonnella
In the midst of intense debate over tax cuts and unemployment benefits in Washington, the Business Roundtable, an association of CEOs from leading US companies, released a new report today entitled “The Roadmap for Growth.” The document outlines key recommendations the association believes should be undertaken by US lawmakers to drive “robust and sustainable" economic recovery, promoting greater prosperity for all Americans.
The plan provides holistic recommendations in five key areas: fiscal policy, market access, education, regulation and energy, which association members feel need to be comprehensively addressed in order to encourage growth and stability in the American economy, allowing the US to maintain its place as a global leader.
Group chairman Ivan Seidenberg, chief executive of Verizon Communications, said "Congress and the administration must bring clarity and focus to the legislative agenda in order to enable businesses to do what they do best - create jobs and drive growth" (WSJ).
Here’s a look at the reports key proposals:
Fiscal Policy and Competitive Taxation: Redesign the corporate tax system to promote investment and strengthen US competitiveness in the international economy, and undertake significant reforms to reduce government spending before the American economy is swallowed by debt.
Market Access: Pass all pending free trade agreements and aggressively pursue more to increase America’s exports.
Education: Invest in programs that focus on performance and encourage innovation – such as Race to the Top – and place a stronger emphasis on math and science education to promote a competitive and well-educated 21st century American workforce.
Government Regulation: Re-evaluate wide-ranging financial, environmental and health care regulations passed under the previous Congress to ensure they promote the greatest possible measure of competition, choice and growth.
Energy and the Environment: Invest in a comprehensive suite of new energy technologies and expand access to traditional sources to simultaneously advance America’s environmental, economic and energy security interests.
“America’s dynamic business sector has the knowledge, experience and grit to drive unprecedented economic growth and job creation, but we need support from policymakers in Washington.” said Andrew N. Liveris, Chairman and CEO of The Dow Chemical Company (Business Wire).
Roundtable CEOs are scheduled to meet with members of Congress as well as the Obama Administration to discuss their recommendations this week, and the association hopes to stay engaged with Washington in addressing economy recovery in the coming months.
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