Business Roundtable Statement on Rep. Waters’ Amendment to the Investor Protection Act of 2009

“We urge the House Financial Services Committee to bear in mind the many other avenues for shareholder input and reject Rep. Waters’ amendment. We will continue to work with lawmakers on corporate governance reform that will promote long-term economic growth by protecting the ability of U.S. businesses to innovate, create jobs and build shareholder value,” said John J. Castellani, President of Business Roundtable.

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, 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.

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Business Roundtable
Kirk Monroe, 202-496-3269