Finding the Right Path to Encourage American Investment in 21st Century Infrastructure Featured Speakers Panel 1: Barbara Angus, Chief Tax Counsel, House Ways and Means Committee Aruna Kalyanam, Tax Counsel/Staff Director Tax Policy Committee, Minority, House Ways and Means Committee Tony Coughlan, Counsel, Senate Finance Committee Tiffany Smith, Chief Tax Counsel, Minority, Senate Finance Committee Barbara Angus Chief Tax Counsel, House Ways & Means Committee About Angus Barbara serves as Chief Tax Counsel for the Committee on Ways and Means of the US House of Representatives. She was appointed to this role by Chairman Brady in February 2016. Angus previously served as a Principal with Ernst & Young where she is leader of international tax policy services. Earlier in her career, she served as International Tax Counsel for the Treasury Department, Principal with PricewaterhouseCoopers in the federal tax policy group, and Business Tax Counsel for the Joint Committee on Taxation. About House Ways & Means Committee The Committee on Ways and Means is the oldest committee of the United States Congress, and is the chief tax-writing committee in the House of Representatives. The Committee derives a large share of its jurisdiction from Article I, Section VII of the U.S. Constitution which declares, All Bills for raising Revenue shall originate in the House of Representatives. Aruna Kalyanam 2016 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property.
Tax Counsel/Staff Director of the Tax Policy Committee, House Ways & Means Committee About Kalyanam Aruna is the Democratic Tax Counsel for the House Committee on Ways and Means and Democratic Staff Director, Subcommittee on Select Revenue Measures. She has been on staff with the House Committee on Ways and Means since 2001. Her work is focused primarily on Federal tax policy, including health care and pension tax issues, as well as issues regarding the Federal budget; and her areas of expertise include individual taxation, economic development taxation, and energy taxation. Previously, she worked for the Joint Select Committee on Deficit Reduction Member Xavier Becerra. Prior to joining the Committee, Ms. Kalyanam started working on Capitol Hill in the office of Congressman Charles Rangel (D-NY). About House Ways & Means Committee The Committee on Ways and Means is the oldest committee of the United States Congress, and is the chief tax-writing committee in the House of Representatives. The Committee derives a large share of its jurisdiction from Article I, Section VII of the U.S. Constitution which declares, All Bills for raising Revenue shall originate in the House of Representatives. Tony Coughlan Counsel, Senate Finance Committee About Coughlan Tony Coughlan joined the Senate Finance Committee in 2009 to serve in the role as Counsel where he advises in tax legislation, especially in the corporate and international areas. He attended Georgetown University Law School, LLM ('98) and graduated the University of Virginia, JD ('92). Prior to joining the Senate Finance Committee, Coughlan served as Director at Oracle. About the Senate Finance Committee The Finance Committee is currently comprised of 26 Members 14 Republicans and 12 Democrats. The ratio of majority to minority Members 2016 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. Page 2
on the Committee is based on the ratio of majority to minority Members of the Senate. The Committee concerns itself with matters relating to taxation and other revenuemeasures generally, and those relating to the insular possessions; bonded debt of the United States; customs, collection districts, and ports of entry and delivery; deposit of public moneys; general revenue sharing; health programs under the Social Security Act (notably Medicare and Medicaid) and health programs financed by a specific tax or trust fund; national social security; reciprocal trade agreements; tariff and import quotas, and related matters thereto; and the transportation of dutiable goods. It is considered to be one of the most powerful committees in Congress. Tiffany Smith Chief Tax Counsel, Minority, Senate Finance Committee About Smith Tiffany is the Chief Tax Counsel at the Senate Finance Committee. Previously, she served as Senior Tax Counsel, a position which she also held with Senator Max Baucus. She previously oversaw legislative efforts pertaining to international and corporate tax, tax exempt organizations and estate and gift taxes. Prior to working with the Senate Finance Committee, Tiffany worked with the Office of Chief Counsel for the Internal Revenue Service. Smith started her career with the City of Chicago, Office of Chief Counsel. About the Senate Finance Committee The Finance Committee is currently comprised of 26 Members 14 Republicans and 12 Democrats. The ratio of majority to minority Members on the Committee is based on the ratio of majority to minority Members of the Senate. The Committee concerns itself with matters relating to taxation and other revenuemeasures generally, and those relating to the insular possessions; bonded debt of the United States; customs, collection districts, and ports of entry and delivery; deposit of public moneys; general revenue sharing; health programs under the Social Security Act (notably Medicare and Medicaid) and health programs financed by a specific tax or trust fund; national social security; reciprocal trade agreements; tariff and import quotas, and related matters thereto; and the transportation of dutiable goods. It is considered to be one of the most powerful committees in Congress. 2016 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. Page 3
Panel 2: Ron Busby, President and CEO, US Black Chambers Inc. (USBC) Jennifer Fritzsche, Managing Director, Wells Fargo Securities, LLC Jason Furman, Senior Fellow, Peterson Institute for International Economics Earl G. Graves Jr., President & CEO, BLACK ENTERPRISE Doug Holtz-Eakin, President, American Action Forum John Stephens, Senior Executive Vice President & Chief Fiunancial Officer, AT&T Ron Busby President and CEO, US Black Chambers Inc. (USBC) About Busby Ron is the President/CEO of the U.S. Black Chambers, Inc. (USBC). He is a former successful business owner himself, and he has been recognized as one of the nation s best CEOs. Ron grew his first company, USA Superclean, from $150,000 annualized revenue, to over $15 million in only 10 years. Early on in his career, USA Superclean was recognized as the largest Black-owned janitorial firm in the country. Ron has also started and grown two other janitorial firms, both resulting in over $4 million in annualized revenue. Currently, Ron serves on the Pfizer Small Business Council, National Newspapers Publishers Association Foundation Board of Directors, and White House African American Leadership Council. He has also formerly served on the U.S. Small Business Administration s (SBA) Council on Underserved Communities. About US Black Chambers Inc. (USBC) The U.S. Black Chambers, Inc. (USBC) provides committed, visionary leadership and advocacy in the realization of economic empowerment. Through the creation of resources and initiatives, they support African American Chambers of Commerce and business organizations in their work of developing and growing Black enterprises. The U.S. Black Chambers, Inc. Five Pillars of Service are the cornerstone of their platform. They represent issues that greatly impact the growth of Blackowned businesses in America and, consequently, form the foundation of the USBC agenda. Those five pillars are: advocacy, access to capital, contracting, entrepreneur training, and chamber development. 2016 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. Page 4
Jennifer Fritzche Managing Director, Wells Fargo Securities, LLC About Fritzche Jennifer is a managing director in the Equity Research department at Wells Fargo Securities, where she has focused on the Telecommunications Services sector since 1999. She started in telecom equity research in 1996 with EVEREN Securities, where she was promoted to senior analyst after serving two years as an associate analyst on the telecom research team. In 2006, Forbes magazine recognized Jennifer as one of the top ten stock pickers from a universe of 4,500 sell-side analysts across all industry sectors. Most recently, in May 2011, Jennifer was recognized as the No. 1 earnings estimator for Wireless Telecommunication Services by Financial Times/StarMine, a leading provider of objective ratings of equity securities analysts. About Wells Fargo Securities, LLC Wells Fargo Securities ("WFS") is the investment banking division of Wells Fargo & Co. The size and financial performance of the group is not disclosed publicly, but analysts believe the investment banking group houses approximately 4,500 employees and generates between $3 and $4 billion per year in investment banking revenue. By comparison, two of Wells Fargo s largest competitors, Bank of America and J.P. Morgan Chase generated approximately $5.5 billion and $6 billion respectively in 2011 (not including sales and trading revenue). WFS headquarters is based in Charlotte, North Carolina with other U.S. offices in New York, Minneapolis, Boston, Houston, San Francisco, and Los Angeles, and international offices in London and Hong Kong. Jason Furman Senior Fellow, Peterson Institute for International Economics About Furman Jason joined the Peterson Institute for International Economics as senior fellow in January 2017. Prior to joining the Peterson Institute, he served as a top economic adviser to President Barack Obama during the previous eight years, including as the 2016 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. Page 5
28th chair of the Council of Economic Advisers from August 2013 to January 2017, acting as both Obama s chief economist and a member of the cabinet. There he helped to make the Council of Economic Advisers a thought leader on a wide range of topics including labor markets, competition policy, and macroeconomics. Prior to joining the Obama administration, Jason worked at both the Council of Economic Advisers and National Economic Council during the Clinton administration and at the World Bank. Additionally, he served as a senior fellow at the Brookings Institution and at the Center on Budget and Policy Priorities. About the Peterson Institute The Peterson Institute for International Economics (PIIE) is a private, nonpartisan nonprofit institution for rigorous, intellectually open, and indepth study and discussion of international economic policy. Its purpose is to identify and analyze important issues to make globalization beneficial and sustainable for the people of the United States and the world and then develop and communicate practical new approaches for dealing with those issues. The Institute attempts to anticipate emerging issues and to be ready with practical ideas, presented in useful, accessible formats, to inform and shape public debate. Its audience includes government officials and legislators, business and labor leaders, management and staff at international organizations, university-based scholars and their students, experts at other research institutions and nongovernmental organizations, the media, and the public at large. Earl G. Graves Jr. President & CEO, BLACK ENTERPRISE About Graves Jr. Earl is the president & CEO of BLACK ENTERPRISE. After holding several positions within advertising & marketing, he was appointed president and chief operating officer in 1998 and named CEO in 2006. Under his guidance BLACK ENTERPRISE has expanded the reach of its signature magazine to include more than 4 million readers, redefined its Wealth for Life mission for the digital age with a revitalized multimedia website and ipad edition, and successfully launched broadcasts of Our World 2016 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. Page 6
with Black Enterprise and the Black Enterprise Business Report into television syndication. Earl is a powerful advocate of doing business with minority media and advertising agencies. He holds positions on the corporate boards of several other companies including AutoZone, the Pepsi African American Advisory Board, Channel Thirteen/WNET s Educational Broadcasting Corp. and the Magazine Publishers of America. About BLACK ENTERPRISE BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. Since 1970, BLACK ENTERPRISE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. BLACK ENTERPRISE affirms your aspirations and provides the tools to achieve them through our four content channels: Publishing, Digital, Broadcast, and Events. Doug Holtz Eakin President, American Action Forum About Holtz-Eakin Doug is the President of the American Action Forum. Since 2001, he has served in a variety of important policy positions. During 2001-2002, he was the Chief Economist of the President s Council of Economic Advisers (CEA) (where he had also served during 1989-1990 as a Senior Staff Economist). At CEA he helped to formulate policies addressing the 2000-2001 recession and the aftermath of the terrorist attacks of September 11, 2001. From 2003-2005 he was the 6th Director of the nonpartisan Congressional Budget Office (CBO), which provides budgetary and policy analysis to the U.S. Congress. During his tenure, CBO assisted Congress as they addressed numerous policies notably the 2003 tax cuts (JGTRRA), the Medicare prescription drug bill (MMA), and Social Security reform. He also serves as the Director of Domestic and Economic Policy for the John McCain presidential campaign, a Commissioner on the Congressionallychartered Financial Crisis Inquiry Commission and serves as an outside adviser to the U.S. Chamber of Commerce. About AAF AAF provides data-driven insight to today s defining domestic policy challenges, utilizes both in-house policy experts and a broad network of 2016 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. Page 7
outside experts, and deploys modern communications approaches to express ideas and effectively engage policymakers, thought leaders, academics, media, and the general public. The American Action Forum is an independent, nonprofit 501(c)(3) organization, and it is not affiliated with or controlled by any political group. Its focus is to educate the public about the complex policy choices now facing the country, and explain as cogently and forcefully as possible why solutions grounded in the center-right values that have guided the country thus far still represent the best way forward for America s future. It will stay neutral in elections, and by and large will leave its sister organization, the American Action Network, to engage in any appropriate direct legislative advocacy in support of the policy proposals it discusses. Like the Network, the Forum welcomes policy ideas consistent with its center-right values from any source, regardless of party affiliation, and aims to make its educational materials available to members of the public of all political stripes. John J. Stephens Senior Executive Vice President & Chief Financial Officer, AT&T About Stephens John is senior executive vice president and chief financial officer for AT&T. Previously, John served as senior vice president and controller, with responsibility for all financial reporting and operational reporting, accounting policy, business planning and regulatory reporting for AT&T. He also served as chief financial officer for the Diversified business unit and had responsibility for all corporate tax and shared services. Prior to serving as controller, John served as vice president-taxes, where he oversaw all corporate tax matters, a position to which he was appointed in August 2000. He previously served as managing director-taxes, where he had similar corporate tax responsibilities. He was named to that position in 1995. Prior to joining the company, he served as a tax senior manager with Ernst & Young in St. Louis. His career also includes service as a member of the tax staff of Peat Marwick & Mitchell in Kansas City. About AT&T AT&T Inc. (NYSE:T) helps millions around the globe connect with leading entertainment, business, mobile and high speed internet services. The company offers the nation s best data network and the best global coverage of any U.S. wireless provider. They are one of the world s largest providers of pay TV and have TV customers in the U.S. and 11 Latin American countries. 2016 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. Page 8
Nearly 3.5 million companies, from small to large businesses around the globe, turn to AT&T for highly secure smart solutions. 2016 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. Page 9