Business Roundtable Statement on President Obama's Signing of the Homebuyer Tax Credit Extension and Five-Year NOL 'Carryback' Expansion.WASHINGTON -- "The members of Business Roundtable Business Roundtable (BRT), an association consisting of the chief executive officers of major U.S. corporations that was founded in 1972 through the merger of the three preexisting business organizations. commend President Obama and an overwhelming bipartisan majority in Congress for enacting legislation to extend and expand the federal homebuyer home·buy·er n. One who is in the process of buying a home. tax credit. This vital program is the right type of action for our nation. With more than one-fifth of our economy tied to industries related to housing and real estate, a boost to this sector will create a cascade effect A Cascade Effect is an unforseen chain of events due to an act affecting a system. If there is a possibility that the cascade effect will have a negative impact on the system it is possible to analyse the effects with a consequence/impact analysis. on the rest of the economy, spurring job creation and hastening broad recovery for U.S. homeowners, workers and companies. "Policymakers should also be lauded for working successfully to expand the five-year net operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. 'carryback' period for companies - essential tax relief that will increase liquidity and allow companies to make new investments, sustain R&D and maintain and create U.S. jobs. "Timely, temporary and effective, these measures are exactly the sort of fiscally responsible stimulus action we need to ensure long-term U.S. economic growth. We are encouraged by the swift action by President Obama and the House of Representatives following the Senate's passage, and look forward to similar bipartisan measures in the future that can nurture NURTURE. The act of taking care of children and educating them: the right to the nurture of children generally belongs to the father till the child shall arrive at the age of fourteen years, and not longer. Till then, he is guardian by nurture. Co. Litt. 38 b. and sustain the young roots of recovery," said Richard A. Smith, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Realogy Corporation and Chair of Business Roundtable's Housing Working Group. Please note: Richard A. Smith is available for media interviews regarding the extension and expansion of the homebuyer tax credit. To schedule interviews, please contact Kirk Monroe at (202) 496-3269. Business Roundtable is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 12 million employees. Member companies comprise nearly a third of the total value of the U.S. stock markets and pay more than 60 percent of all corporate income taxes paid to the federal government. Annually, they return more than $167 billion in dividends to shareholders and the economy. Business Roundtable companies give more than $7 billion a year in combined charitable contributions charitable contribution n. in taxation, a contribution to an organization which is officially created for charitable, religious, educational, scientific, artistic, literary, or other good works. , representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with more than $111 billion in annual research and development spending - nearly half of all total private R&D spending in the U.S. Please visit us at www.businessroundtable.org, check us out on Facebook and LinkedIn, and follow us on Twitter A Web site and service that lets users send short text messages from their cellphones to a group of friends. Launched in 2006, Twitter (www.twitter.com) was designed for people to broadcast their current activities and thoughts. . |
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