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Debt Ceiling: Businesses Ask Speaker Boehner for Realistic Tax Reforms that Raise Trillions

American Sustainable Business Council, through its members, represents over 100,000 companies; proposes reforms, seeks accountability for biggest corporations

Debt Ceiling: Businesses Ask Speaker Boehner for Realistic Tax Reforms that Raise Trillions

American Sustainable Business Council, through its members, represents over 100,000 companies; proposes reforms, seeks accountability for biggest corporations

Published 07-19-11

Submitted by American Sustainable Business Council

The American Sustainable Business Council (ASBC), which represents over 100,000 businesses, asked Speaker Boehner and Majority Leader Cantor to reconsider their debt crisis position in a letter delivered this morning. "Tax adjustments and the elimination of unproductive subsidies must be part of a deficit package," said Mike Krajovic of the Fay-Penn Economic Development Council.

The ASBC said it was important to understand that many businesspeople, particularly small businesses, disagree with key points made in the name of the private sector. "Some so called business advocates are using the halo of small business to camouflage tax policy that only benefits the wealthy and big business," said Frank Knapp, President of the 5,000 member South Carolina Small Business Chamber of Commerce. "Most small businesses pay their taxes fully as required through their personal returns. But corporate tax policy is so full of loopholes that many large corporations do not pay the statutorily required marginal rates. The fact that large companies are not paying their fair share causes small businesses to pay more and hurts their competitiveness."

"Mr. Boehner's basic premise: that even one dollar of tax increases destroys jobs is inaccurate," said Mitch Rofsky, President of the Better World Club, an auto/travel club. "And even if a job is created from an unpaid tax dollar, can the Speaker assure the American people that it is a job in the United States, as opposed to, say, China?"

The letter describes principles that represent the perspective of ASBC members.
The letter can be found at http://www.asbcouncil.org/Federal_Debt_Ceiling.html

It is estimated the suggested reforms would reduce the deficit by at least $2.75 trillion over ten years.

The American Sustainable Business Council is a growing coalition of business networks and businesses committed to advancing a new vision, framework and policies that support a vibrant, equitable and sustainable economy.

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American Sustainable Business Council

American Sustainable Business Council

The American Sustainable Business Council (ASBC) is a national coalition of mission-driven businesses, social enterprises and sustainable business networks working to create a vibrant, just and sustainable economy. What unites us is a deep belief that we must move to a new economy that is grounded in principles of sustainability and equity.

The Council represents over 55,000 businesses and enterprises and more than 150,000 executives, owners, investors, entrepreneurs and business professionals. It is comprised of partners, which are organizations that represent businesses and social enterprises as well as entrepreneurs, executives, owners and investors committed to building a vibrant, just, and sustainable economy.

ASBC promotes policy change by educating and informing the business community, policy makers and the media about the business case for change, and by engaging the leaders of businesses and enterprises in building broad support for the policies America needs. We work on a range of policy areas, including: financial reform, health care, chemicals policy, climate change and business taxes.

We believe that the policies that will lead us to a sustainable and just economy are also good for business and good for America. Making the right commitments and investments will produce more and better jobs, build strength in key technologies, and make the U.S. more independent and secure.

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