Business leaders are gearing up to invest heavily ahead of a legislative battle next year when Congress will decide whether to renew parts of the GOP’s 2017 tax cuts. On Wednesday, Business Roundtable CEO Joshua Bolten announced that the organization plans to spend “eight figures” to support and bolster tax reform. This spending effort will be one of the largest in the group’s 52-year history, with a focus on protecting and enhancing the tax system to support business growth and innovation in the United States.
Cisco CEO Chuck Robbins, who leads the Business Roundtable, outlined the group’s top three priorities leading up to the 2025 tax deadline. These priorities include preserving the current 21% corporate tax rate, ensuring a competitive international tax structure, and strengthening incentives for innovation within domestic companies, such as immediate expensing for research and development expenditures.
Bolten emphasized that the Roundtable’s main objective is to maintain a competitive tax environment for companies to thrive and advance within the country. He did not provide specific details about how much money would be spent or which specific tactics would be used in this campaign. However, he said that this effort represents one of his organization’s most important initiatives in recent years.
