U.S. business leaders warned they are prepared to fight measures such as Biden‘s corporate tax hike, tighter regulations, and doubling of the federal base hourly wage.
Tom Donohue, CEO of the U.S. Chamber of Commerce (USCC), warned that the timing is not right to further test corporate resilience by raising corporate taxes or introducing new regulations that would do more harm than good at a Time when the economic recovery is at its most fragile, and that USCC members will use all the tools at their disposal to fight excessive regulation.
Bolton, president of the Business Roundtable (BRT), a lobbying group for big business in the United States, said raising corporate taxes would actually be a step backward. He has said that BRT supports Biden’s efforts to accelerate vaccinations, support small businesses, and push priority programs, including infrastructure investment and reconsidering tariff hikes on U.S. allies.
The comments again underscore their long-standing position on corporate taxes and regulatory regulations and suggest Biden may find limited support from business groups, especially when it comes to funding government spending programs.
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