Dozens of CEOs met with members of the Blue Dog Coalition today during several Business Roundtable gatherings to discuss ways to boost a slumping economy.
“Taking Action for America” is a plan that will balance the federal budget as well as reestablish federal regulations and lower taxes.
The Roundtable president, John Engler, met with President Obama on Tuesday evening and is scheduled to meet with Treasury Secretary Timothy Geithner later today.
The Roundtable chairman and Boeing Co. CEO, Jim McNerney, believes that until businesses can become united with government, successfully repairing the economy will not be possible. He suggested that tax reform must not wait until after the elections in November.
Andrew Liveris, who is the Dow Chemical Co. president and CEO stated that Washington cannot afford to do nothing.
The members of the Roundtable are CEOs of the biggest corporations in the country and are adamant about the creation of a “smart regulation”. This would help to eliminate some of the more complex regulations that do little more than cost these businesses undo money.
During Boeing’s dealings with the National Labor Relations Board last year, it was found that much of it was not productive. In fact, occasionally it felt led by political motivation. McNerney believed that the company should not have been subjected to the ordeal.
As Japan prepares to lower their tax rates in a few short weeks, the U.S. will gain the spot for the highest corporate tax rate in the world. While the Obama administration proposes the decrease in the rate of tax from 35 percent down to 28 percent, the CEOs believe that is not enough. For the tax decrease to gain the support of the Business Roundtable the tax rate would need to be around 25 percent.
Proctor & Gamble’s president and CEO believes that the time to lower taxes is at hand.