Taxpayer Savings of over $1 TrillionBy Reuters | Posted 2010-10-07 Email Print
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CEOs of Intel, EMC, IBM, Micron, Applied Materials and Motorola offered top White House advisers advice on increasing government worker productivity, cutting costs, boosting the economy and cutting the national debt.
"By adopting commercially proven best practices to maximize operational productivity, government can save over $1 trillion by 2020, while enhancing the services it provides," the council said.
In a paper outlining their position, the CEO Council offered seven specific proposals to cut waste, while singling out targeted savings, as well as corporate tax levels, as key areas where productivity could be encouraged.
At a top marginal rate of 35 percent, corporate income taxes in the United States are among the highest in the world and big business often complains that it hampers their competitiveness.
Obama said on Monday he was interested in finding a revenue-neutral way in which to bring this level down and cited closing tax loopholes as one route he favored. (Additional reporting by Ross Colvin; Editing by Bill Trott)