The president of an association of chief executives of major U.S. companies said he doubts Republican presidential candidate Mitt Romney will follow through on his threat to brand China a currency manipulator on his first day in the White House.
Some U.S. chief executive officers may ultimately support a rewrite of the corporate tax system though it would cost their companies money, said John Engler, president of the Business Roundtable, a Washington group that represents CEOs.
Eli Lilly & Co. Chief Executive Officer John Lechleiter said during a panel discussion in Washington that U.S. lawmakers should renew the research-and- development tax credit to make it easier for companies to compete globally. The Oct. 5 event, sponsored by Harvard University and the Business Roundtable and hosted by Bloomberg News in Washington, centered on ways to spur innovation.
Spending cuts must accompany revenue increases in any deal Congress puts together to avoid the co- called fiscal cliff scheduled to unfold at the beginning of the new year, the president of the Business Roundtable said.