Bowles-Simpson Commission

Fuqua School of Business survey shows strong support among CFOs for Simpson-Bowles style plan to fix the debt

Front-paged in the spirit of dialogue. Does not represent the opinions of BlueNC owners.

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Duke University’s Fuqua School of Business http://www.fuqua.duke.edu/ released their quarterly CFO survey http://cfosurvey.org/ and found that more than 62% of polled CFOs favored a Simpson-Bowles style plan to fix the debt, which includes increased revenues along with spending cuts.

In the survey release, Campbell Harvey http://www.fuqua.duke.edu/faculty_research/faculty_directory/harvey/, a Fuqua finance professor and founding director of the survey, expressed the significance of these surprising results, stating, “CFOs generally prefer less taxation across the board, so their willingness to accept increased tax rates is dramatic. U.S. companies are sending a strong message to Washington to meet in the middle to address the budget crisis, and to do it soon.”

Support from CFOs for a plan that includes tax increases is indicative of the urgency of this crisis and the need for Congress and the President to get a solution crafted. The results indicate that CFOs view the uncertainty of unsustainable debt as the greater threat.

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