Printer Friendly

FEI recognizes private Cos.' need for dialogue on key issues.

Things in Washington are getting more complicated every day, both substantively and politically. With an overreaching Congress dominating the headlines, it is vital that private companies let their voices be heard or risk the consequences that come with silence.

Financial Executives International and its members who work in private companies have been actively tracking issues, such as strengthening the research and development tax credit and providing much-needed certainty to protecting active business income so that companies can better invest the money back into their companies. FEI has also been on the forefront of advocating for issues such as the extension of bonus depreciation, which would allow companies to stretch scarce capital and allow hiring of more workers, as well as addressing the alternative minimum tax.

FEI understands the concerns and has been working tirelessly to make sure that members' voices are being heard loud and clear. With extensive and controversial legislation coming down the pike, now is the time to effect the change that will make our American-based private companies stronger and more competitive.

FEI has actively listened to members during meetings around the country about the need for senior-level financial executives to get their message heard on the national stage by speaking with our nation's policymakers in Washington, D.C.

In response to these members' concerns, FEI recently launched the Private Company Roundtable. One of the main purposes of the group is to help educate and influence the country's elected leaders on the specific legislative and policy decisions that are impacting the nation's private companies.

Members have also requested additional programming, calls and meetings that specifically target private company concerns, as well as a venue to share information with other like-minded professionals in their field and problem solve with one another through peer-to-peer networking and communication on key issues.

First Teleconference Held

On June 2, the Private Company Round-table met for the first time via teleconference. More than 100 FEI members joined a lively and informative discussion on issues including the estate tax, health care, tax reform, financial regulatory reform and the 2011 budget of the United States.

Roundtable members heard from Republican Rep. Lee Terry of Nebraska, about his work portfolio in Congress, including his position on the powerful House Energy and Commerce Commitee, which holds jurisdiction over healthcare legislation. Kathleen Black, the senior finance and tax advisor to the Senate Small Business Committee also addressed the group.

After the discussion, roundtable members were able to participate in a question-and-answer session with the speakers and among themselves.

Following the session, Black actively praised the quality of FEI's membership, by saying: "One of the things I've always appreciated about FEI is that the group does not come up here [Capitol Hill] looking for academic fuzzy issues--they're too busy holding down the fort to play politics ... the members are really no-nonsense money guys who are quick to get to the bottom line on a problem."

There are currently more than 200 member companies of the Private Company Roundtable. The group includes representation from more than 40 states and comprises a wide variety of business sectors including health care, banking, manufacturing, aerospace technologies and energy.

As the roundtable grows, FEI anticipates expanding the member base to include representation from every one of the 50 states.

The roundtable is already fielding requests from congressional offices about connecting members with policy-makers through conference calls, webcasts and in-person meetings. Officials in Washington are acknowledging the value of the roundtable, which is in its beginning stages.

Membership in the roundtable is open to FEI members who work with private companies. For information on getting involved with peers and signing up, please contact Tyler Roberts in FEI's Washington, D.C., office.

Tyler Roberts is a policy analyst in the Government Affairs department at Financial Executives International in the Washington, D.C., office. He can be reached at troberts@financialexecutives.org or 202.626.7807.
COPYRIGHT 2010 Financial Executives International
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:washington insights; Financial Executives International
Author:Roberts, Tyler
Publication:Financial Executive
Geographic Code:1U9WA
Date:Jul 1, 2010
Words:648
Previous Article:Cost-cutting with accounts payable automation.
Next Article:New! Survey results on audit fees, compensation and ERM.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters