The Global Business Alliance (GBA) is the premier advocacy resource on issues uniquely impacting America’s inbound business community. Representing nearly 200 globally recognized brands across every sector of the U.S. economy, GBA actively promotes and defends an open economy that welcomes international companies to invest in America. Our members are American companies with global heritage and an indispensable part of our nation’s economic success. When America is open for business, we all benefit.
International companies have invested $5 trillion into the U.S. economy. Every year, international companies make new investments and benefit the American economy in numerous ways. They employ 7.9 million Americans in high-quality jobs, offer better-paying jobs, build new factories and fund U.S.-based research and development (R&D).
For the 10th consecutive year, the United States has been ranked the top destination for global investment. Due to our skilled workforce, unrivaled consumer market and transparent regulatory environment, international companies are attracted to all sectors of the U.S. economy. Over 40 percent of all global investment is in the manufacturing sector. Finance and insurance, wholesale trade, and information round out the top four industries for inbound global investment.
GBA has long advocated to maintain the OECD international standard allowing for depreciation and amortization to be maintained as part of the EBITDA formula used by companies to obtain critical financing necessary to rebuild their supply chains here in the U.S. post COVID-19. Congress must pass the Permanently Preserving America’s Investment in Manufacturing Act (H.R. 5371/S. 1077).
GBA has engaged lawmakers on a bipartisan basis to reverse the Section 174 change that was implemented this year eliminating the ability of companies to deduct their research and development investments in the year they are made. This has been allowed by the tax code for over 50 years and has wide bipartisan support in both chambers of Congress. Congress must support the American Innovation and Jobs Act (HR. 1304/S. 749).