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Last Thursday, CNBC’s “Squawk Box” broadcast live from the Business Roundtable in Washington, DC. Five of his CEOs at the Roundtable joined show co-anchor Becky Quick to discuss tax, trade, regulatory and workforce development policies that drive the U.S. economy and growth.
Business Roundtable member CEOs who participated in the show included:
- chuck robbinsCisco, Business Roundtable Chair and Chairman and Chair and Chief Executive Officer: Click here.
- Ryan M. LanceChairman and CEO, ConocoPhillips: Click here.
- Judy MarksChairman, CEO and President, Otis Worldwide Corporation: Click here.
- jennifer ramseyChairman and CEO, Cummins Inc.: Click here.
- Gregory J. HayesRTX Chairman and CEO: Click here.
Here’s what they said:
About competitive growth-promoting taxation:
- Business Roundtable Chair Chuck Robbins, Cisco Chairman and CEO: “I think what we have to look at is what’s creating jobs in America. So the tax breaks that we’re looking for right now, that have expired or are about to expire? When you think about what’s going to happen, where are you going to put the R&D jobs if you can’t expense them in the U.S.? Somewhere else. They create jobs and stimulate the economy. These are the kinds of things that we think can help.”
- Ryan Lance, Chairman and CEO of ConocoPhillips, said: “It’s important to maintain a competitive tax system, and part of that includes the tax cuts proposed in the Senate today: strengthening the workforce development process, free trade, and eliminating burdensome regulations. It’s prevention.”
Regarding regulations:
- Ryan Lance on the temporary suspension of liquefied natural gas (LNG) exports: “What you do today is sowing the seeds for years to come. If what you’re going to do is suspend LNG permits… there’s a lot of uncertainty in that business. People are not going to start creating gas supplies to feed the LNG export chain and feed the domestic supply, because that would give them a lot of energy, because the need in the US is increasing. Prices are going up. But you’re planting the seeds for the next issue that will be published in a few years.”
- Jennifer Ramsey, Chair of the Business Roundtable’s Energy and Environment Committee and Chairman and CEO of Cummins, said of the SEC’s final climate disclosure rules: “They are [the SEC] It has been revised from its original version, which included some very concerning aspects, including Scope 3 expectations and reporting levels. As we continue to study that 800+ page document, the fundamental questions are: ‘Is this an area where the SEC should require companies to disclose, and what level of reporting and effort is required?’ ‘Will it happen?’ ”
- Chuck Robbins on the SEC’s final climate disclosure rules: “We want the SEC to stay true to Congressional authority. … Everyone is there. [at Business Roundtable] We’re working on climate change and managing carbon emissions and we’re doing the right thing to do that, but some of the requirements, first of all, we don’t know if it’s the SEC’s authority to do that. Hmm…that’s an incredible amount of work. When we talk about inflation and when we talk about the cost that American consumers are spending on everyday items, it actually increases costs. And when regulation increases costs for companies, those costs flow out. This is no different than many of the tariffs we see today. Those costs are passed on to consumers. ”
About trade:
- Business Roundtable International Trade Committee Chair Judy Marks, Chairman, Chief Executive Officer and President, Otis Worldwide Corporation: “We fully support quality free trade agreements that give us market access and a level playing field to compete. This competition allows us to grow our business and do more here in America. We can create a lot of jobs. Put all this together, with or without tariffs, consumers can benefit. … We especially want access to markets in Asia. We were hopeful earlier this year that we could make progress in the Indian and Southeast Asian markets. These are growth markets for Otis. These are growth markets for people, but we still have no real structure. …Business Roundtable CEOs are pro-trade and very focused on growing our economy, expanding jobs, and creating an economy where people can thrive. I am.”
- Chuck Robbins: “If tariffs on household goods reduce choice for U.S. consumers, it will increase costs for U.S. consumers.”
About employees who are always ready:
- Chuck Robbins: “A quarter of the population feels left behind. It feels like they didn’t have the opportunity, and we want to help solve that. At Cisco , which runs training programs around the world, will equip nearly 5 million students this year with digital skills to prepare them for the future. We have some form of program in place. We had a workforce development day here earlier this week and there was a lot of discussion about how we continue to drive this forward.”
related news: Business Roundtable CEO Joshua Bolten released a statement last week expressing the following views:
- “The actions President Biden and Congress can take now will lower costs for consumers and strengthen the economy. The administration is costing American families, businesses, and manufacturers tens of billions of dollars each year. It could eliminate tariffs on thousands of products and create new, higher standards that would protect American jobs, open new markets for American businesses and workers, and lower costs for American manufacturers. We can also re-engage with our friends and allies to establish trade deals and recalibrate our burdensome approach to regulation that imposes unnecessary costs on American businesses and consumers. .
- “At the same time, Congress could pass the bipartisan Workforce Pell Act and the Stronger Workforce for America Act, which would allow more workers to adapt and thrive in a rapidly changing economy. It also passed the American Families and Workers Tax Relief Act, which helped American businesses benefit from countless technological advancements and essential consumer products. It could also reinstate the pro-growth tax system that helped develop the economy. ”
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