NASHVILLE, Tenn. (WMOT) -- One of Tennessee’s most influential business leaders is calling on the White House and Congress to move more quickly on promised pro-business reforms.
Fred Smith is the founder and CEO of Memphis based Fedex, one of Tennessee’s largest companies.
Smith yesterday co-authored an op-ed piece in the WallStreet Journal calling on Washington to simplify taxes, invest in infrastructure and expand international trade. Smith wrote the appeal in partnership with David Abney, CEO of United Parcel Service.
Dr. Andy Borchers teaches business at Lipscomb University. He says seeing two fierce rivals such as the heads of Fedex and UPS cooperate on anything suggests just how frustrated the business community is right now.
“You would think having both houses of Congress and the White House could lead to quick action on a number of fronts. Unfortunately, that just hasn’t happened.”
Dr. Borchers says the letter seems timed to influence this fall’s planned tax reform debate. Republican leaders say that’s the next big item on their legislative agenda.
But Borchers says Congress may find consensus on updating the nation’s complex tax code challenging. He also says legislators will get conflicting messages from the business community.
“Different leaders want it changed in different ways. Retailers have one perspective. For example, they were against the border adjustment tax. Other kinds of business leaders would care for reforms in different directions.”
Use the link below to listen to the complete interview with Dr. Borchers.