Business Roundtable Statement on Treasury`s Tax Proposal

WASHINGTON--(Business Wire)--
"The proposed tax increases on U.S. companies by the Treasury threaten the jobs
of tens of millions of U.S. workers and our future economic growth. These
unprecedented tax increases could not come at a worse time for struggling U.S.
workers and businesses. We urge Congress to reject these proposals.

"Adopting these changes will hamstring American competitiveness. While the
Administration would have the public believe that these tax increases are good
for the American people, nothing could be further from the truth: the facts
clearly demonstrate that expansion by U.S. business abroad leads to more and
better paying jobs in America."

"Business Roundtable is committed to working with the Administration to prevent
international and domestic abuses that reduce U.S. tax revenue. However, the
current proposals are not the answer. We need to work together on comprehensive
tax reform that will restore competitive balance for U.S. workers and
companies," said John J. Castellani, President of Business Roundtable.

Please note: John Castellani is available today for media interviews. To
schedule broadcast interviews, please contact Kirk Monroe at (202) 496-3269; to
schedule print interviews, please call Joe Crea at (202) 496-3288.

Business Roundtable is an association of chief executive officers of leading
U.S. companies with more than $5 trillion in annual revenues and nearly 10
million employees. Member companies comprise nearly a third of the total value
of the U.S. stock markets and pay nearly half of all corporate income taxes paid
to the federal government. Annually, they return $133 billion in dividends to
shareholders and the economy.

Business Roundtable companies give more than $7 billion a year in combined
charitable contributions, representing nearly 60 percent of total corporate
giving. They are technology innovation leaders, with more than $70 billion in
annual research and development spending - more than a third of the total
private R&D spending in the U.S.

Business Roundtable
Broadcast:
Kirk Monroe, 202-496-3269
or
Print:
Joe Crea, 202-496-3288

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