The US Chamber of Commerce measures our success by what we deliver you– our members. We believe in the power of the American business community to improve lives, solve problems and strengthen society—and for 110 years we’ve helped you do just that.
So, as Congress adjourns for the August recess, we wanted to take a moment to reflect on how things stand in Washington — and show how we plan to adapt, innovate and grow alongside the businesses we represent.
The House is second to none in its opposition to the reconciliation bill recently introduced in Congress. In addition to months of behind-the-scenes advocacy and a campaign in critical constituencies, we issued key ballot papers to members of the Senate and House and continue to advocate against government tax increases and price controls on legislation that will stifle investment, stifle innovation and will undermine economic growth.
While we didn’t get everything we wanted, it’s important to note that the legislation passed by Congress is dramatically smaller than what was originally proposed last year — and significantly lowers the tax hike for businesses.
The House worked with members of the House and Senate to reject more than $2 trillion in harmful tax increases that were removed from the current bill, including provisions that would have raised corporate and personal tax rates, taxed capital gains with personal income rates. established a global minimum tax and imposed an increase in taxes on pass-through businesses. Our efforts also helped eliminate a number of regulations and new government spending programs in the original reconciliation effort that would have shifted our economy from the free market system we know today to a government-knows-best approach.
This, of course, comes after the House worked throughout 2021 to foster the critical relationship between Republicans and Democrats to separate the massive tax-and-spending reconciliation effort from the much-needed infrastructure bill — and ensure that the historic bipartisan legislation gets done. tax free law increases.
And while we work collaboratively where we can, we’re not afraid to fight when we have to challenge and defend the American business community at every turn, in every agency, with every tool at our disposal. As evidence of this fact, the House is suing the FTC and SEC to rein in rogue regulators and guard against overburdening those agencies. And we recently launched a campaign to defeat the CFPB’s ideologically driven agenda to fundamentally change the nature of America’s financial services industry.
This is just a glimpse of some of the ways we offer you.
From our Litigation Center’s success in the courts, including securing seven favorable decisions in 11 cases before the US Supreme Court during its most recent term, to our Institute for Legal Reform defending the rule of law in Washington , in state capitals across the country, and around the world, and the Chamber’s expertise and leadership on over 300 priorities, like the businesses we represent, we deliver results.
Because of these results, we have a 93% retention rate among our largest members and are constantly attracting others to join us from all industries, with significant growth in technology and other emerging sectors. Importantly, about 90% of our members are small businesses or state and local chambers of commerce, the very fabric of our communities.
Looking to the future and building on our continued success, we are focused on driving growth and increasing our impact. In 2020, the Chamber’s consolidated revenue increased to $250 million—and last year that figure increased to $260 million. Our organization is in its strongest financial position in more than a decade, and we are making investments for the future that will add new value to you, our members, new strength in our advocacy, and new strength for our influence.
None of this is new. Like the businesses we represent, we are committed to growth, innovation and the pursuit of progress for our members—and our nation. And united behind our Common Purpose, the North Star that guides our mission, we will always know who we are and what we stand for.
Business is the most reliable institution in society, surpassing government in every measured matter, and the reason is simple – business works. And as the largest business organization in the world, so does the US Chamber of Commerce.
About the authors
Suzanne P. Clark
President and CEO of the US Chamber of Commerce
As President and CEO of the US Chamber of Commerce, Suzanne Clark leads strategy, government relations and market innovation to support member companies and businesses.