#ICYMI: Abbott President and CEO Robert B. Ford discussed the benefits of 2017 tax reform on Squawk on the Street. "65% of our capex before the TCJA were spent overseas. Once the TCJA [was] in place, 65% of that capex is now being spent here in the U.S." cnb.cx/3xTQnNw

BRT applauds SenateEnergyDems & Senate Energy GOP for advancing the Energy Permitting Reform Act. BRT has long supported federal permitting reform to enable the buildout of new energy infrastructure. Thanks Senator Joe Manchin & Sen. John Barrasso for your bipartisan work. businessroundtable.org/business-round…

BRT CEO Joshua Bolten today released a statement ahead of tomorrow's expected Senate cloture vote on the Tax Relief for American Families and Workers Act. Read it here. businessroundtable.org/business-round…

BRT welcomed the opportunity to participate in today's Global Competitiveness Tax Team roundtable. A globally competitive tax code is vital to encouraging innovation and investment in the US.

Tax reform is working. BRT urges policymakers to: 1. Retain the permanent corporate income tax rate of no more than 21%. 2. Maintain a competitive international tax system. 3. Continue and strengthen broad-based innovation incentives. Learn more: businessroundtable.org/policy-perspec…

Thanks to the 2017 tax reforms, there are more American companies than ever in the Global Fortune 500.

In the year following enactment of the 2017 tax reform, US GDP grew by 3%. BRT urges policymakers to keep America’s economy growing.

Despite the 2017 tax reforms’ net corporate rate reduction, corporate receipts are at a record high level, due in large part to dynamic economic activity spurred by tax reform.

In the first two years after the 2017 tax reforms, real median household income in the US grew by over $6,000, which was more than in the previous 10 years combined.

Following the 2017 tax reforms, companies have repatriated nearly $2.5 trillion in past overseas earnings.

While tax reform increased America’s global competitiveness, the combined US corporate rate of 25.6% is still one of the highest among developed economies.

Tax reform doubled the royalty income subject to US taxation and incentivized owning intellectual property (IP) in the US.

Families making less than $72,500 pay more in corporate income taxes than they do in individual income taxes. Increasing taxes on business will harm American workers. businessroundtable.org/business-round…

ICYMI: Texas Instruments signed an agreement to receive $1.6 billion in funding for semiconductor manufacturing in Texas and Utah. This announcement will bring thousands of American jobs, supporting the US workforce and promoting sustainable manufacturing: news.ti.com/2024-08-16-Tex…

Increasing the US corporate rate by just 1% would return the tax burden on American corporations to pre-tax reform levels and undermine America’s global competitiveness.

Following the 2017 tax reforms, there were zero major tax-related inversions compared to 27 in the five years before tax reform.