Philly CEOs push Congress to cut a deal | PhillyDeals | 07/25/2011
The executives told Republicans to stop blocking tax reform and Democrats to curb future Social Security, Medicare, and Medicaid deficits.
"We are writing here as job creators. We collectively employ thousands of people and generate over a billion dollars in revenue.
"Our message is simple: The threat of a reasonable increase in the effective tax rate, particularly one that combines the closure of tax loopholes and a reduction in applicable tax rates, [will] not slow economic growth and will not prevent us from creating more jobs.
"Rather, a greater impediment to job growth is our continued failure to invest properly in the things that drive our economy, like education, our transportation and information infrastructures, and basic research.
"We propose a truce, in which Democrats are given the leeway to do the right thing with respect to entitlement reform, in return for the cover Republicans need to do the right thing with respect to taxes."