The US Chamber of Commerce measures our success by what we deliver you— our members. We believe in the power of America’s 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 are going in Washington and share how we plan to adapt, innovate and grow with the companies we represent.
The House is unyielding in its opposition to the reconciliation bill which recently passed through Congress. In addition to months of behind-the-scenes advocacy and campaigning in critical districts, we sent key ballot letters to members of the Senate and House of Representatives, and we continue to oppose tax hikes and government price controls in legislation that will deter investment, stifle innovation, and undermine economic growth.
While we didn’t get everything we wanted, it’s important to note that the legislation approved by Congress is significantly smaller than what was originally proposed last year, and it significantly reduces tax increases for businesses.
The House worked with members of the House and Senate to reject more than $2 trillion in harmful tax hikes that were removed from the current bill, including provisions that would have raised corporate and individual tax rates, taxed capital gains at personal income rates, set global minimum tax and increased the tax on transit business. Our efforts also helped roll back a number of regulations and new government spending programs in an initial attempt at reconciliation that would have moved our economy from the free market system we know today to a “government knows best” approach.
That, of course, comes after the House worked throughout 2021 to strengthen the important relationship between Republicans and Democrats, to separate a massive tax-and-spending reconciliation effort from a much-needed infrastructure bill, and to ensure that historic bipartisan legislation became the law without taxes. to increase
And while we cooperate where possible, we are not afraid to fight back when we need to challenge excesses and protect the American business community at every turn, in every agency, with every tool at our disposal. Evidence of this fact is the fact that the Chamber is suing the FTC and SEC to rein in rogue regulators and protect them from excessive abuse. And we recently launched a campaign to defeat the CFPB’s ideologically driven agenda to radically change the nature of America’s financial services industry.
This is just a brief overview of some of the ways we serve you.
From the success of our Litigation Center, including securing seven favorable decisions in 11 cases decided by the U.S. Supreme Court during his last term, to our Institute for Legal Reform, which defends the rule of law in Washington, state capitals across the country, and around the world, and the Chamber’s experience and leadership in more than 300 priorities, like the companies we represent, we deliver results.
Thanks to these results, we have a 93% retention rate among our largest members, and we are constantly attracting others to join us from various 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 rose to $250 million, up from $260 million last year. Our organization is in its strongest financial position in over a decade, and we are investing in a future that will add new value to you, our members, add new strength to our advocacy and strengthen our impact.
None of this is new. We are committed to growth, innovation and the pursuit of progress for our members and our nation. And united by 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 trusted institution in society, outperforming government in every measurable way, and the reason is simple: business works. The US Chamber of Commerce is the largest business organization in the world.
About the authors
Suzanne P. Clark
President and CEO of the US Chamber of Commerce
As president and chief executive officer of the US Chamber of Commerce, Suzanne Clark leads strategy, government relations and market innovation to support member companies and businesses.