Company Leaders Thank Treasury for Meeting on Corporate Tax Reform and Global Competitiveness

On behalf of the Corporate Chief Financial Officers who met with you on Friday, January 14, 2011, I want to thank you for your outreach and for the engagement on the topic of Corporate Tax Reform. This is a critical matter for us, to become more competitive and to improve our country's standard of living.

As we discussed, and was echoed by the President in his State of the Union Address, global competitiveness is a must in ensuring American companies have every opportunity to maximize growth, attract capital, and create jobs. It's also of vital importance in attracting new companies and new jobs in the United States.

We believe that competitiveness should be a primary factor in the work ahead. If we design an uncompetitive system it will raise less revenue. Having said this, we agree we have a responsibility to each other -- and to the interests we are all seeking to protect -- American jobs and the American standard of living -- to approach this in a fiscally responsible manner.

We stand willing to engage further on this topic and are hopeful that progress can be made.

Neal Wolin, Deputy Secretary of Treasury