Technology leaders asked Congress and President Barack Obama to make...
Technology leaders asked Congress and President Barack Obama to make strategic spending cuts and reform taxes in order to avoid the legislative changes coming Jan. 1, collectively known as the fiscal cliff. In a letter sent Tuesday, nine CEOs of…
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technology companies urged lawmakers to create a pro-growth framework for long-term fiscal sustainability and said failure to do so would undermine the U.S. economy and make business decisions more challenging. Rather than enact across-the-board cuts as prescribed in the sequester, Congress should make strategic cuts that preserve government investments in education, infrastructure and research, the letter said. The letter also advocated the debt reduction proposal offered by the National Commission on Fiscal Responsibility and Reform, and said business tax reform should focus on lower rates, a broader base and territorial treatment of international income. CEO signers of the letter include: Michael Dell of Dell; Greg Brown of Motorola Solutions; Ursula Burns of Xerox; Mark Duncan of Micron Technology; Paul Jacobs of Qualcomm; Paul Otellini of Intel; Ginni Rometty of IBM; Mike Splinter of Applied Materials; and Joseph Tucci of EMC. Separately, CompTIA urged congress to consider how certain expiring tax provisions would negatively affect small- and medium-sized technology businesses in the U.S. “An approach that balances revenue with spending cuts while prioritizing policies and programs that spur innovation and entrepreneurship can right the ship and set us on a steady economic course,” said CompTIA CEO Todd Thibodeaux in a press release Tuesday.