President Barack Obama is planning a fiscal cliff of $607 billion for cutting the spending and increasing tax.
U.S government raised a fund of $147 million in 2011 and $200 million in 2010 from its tax filing source. The U.S. Chamber of Commerce includes 300,000 members and more than 3 million companies.
The chamber spent nearly $50 million on political advertising on opposition parties which is pinching to the business group like partnership and Fix the Debt.
Some top earners being the Chamber members such as Ford Motor Company, Honeywell International and The Dow Chemical Company have been insisted for more tax revenue for the sake of business as well as government interest.
Strident and Vitriolic:
The chamber plays an adverse role, in working against Obama in the plan of reducing the deficit budget. The business group demanded a stricter financial regulation where as the administration is not paying attention to its plan of action for production of domestic energy and building Keystone XL pipeline.
The business group CEOs will meet with the administration in Dec. The business group helps in fixing the fiscal-cliff negotiations.
Some of the Companies coming with some slogan like McDonald’s Corp. and Nike Inc. — “I’m Fixin’ It” and “Just Fix It.”
The group now shows love and actively participates in the debt fixing campaign.
The chamber now organized its plan for settling the budget deficit by lowering the spending, enhancing economic growth, entitlement reform and increasing national income but not through higher taxes. The business CEOs jointly does more effective work towards achieving the goal of closing the deficit.
It became hard in the part of the chamber to execute what they have planed. The chamber does not willing to spend money in promoting the debt plan as fix the debt are working on it. They found it hard to raise fund for the same act from the same source .So the business group believes tax is the only solution to this problem.
The chamber which includes 300,000 members and more than 3 million companies, willing to do anything toward making their nation debt free. some of the group come affront with the massage: Tax us. We can take it. The chamber collected $200 million in 2010 and $147 in 2011.