The Business Roundtable, an alliance of US CEOs, warned Wednesday it will fight the Democrats' push to unwind the Trump tax cuts.
"The Roundtable will be actively opposing efforts to raise corporate taxes," Josh Bolten, the group's CEO, said in response to a question from CNN Business during a press briefing.
Biden officials have indicated they will look at the corporate tax rate as a way to raise revenue for an infrastructure package.
"After decades of decades of having an uncompetitive tax rate, we have finally arrived at a competitive US tax rate," said Bolten, who served as a chief of staff to former President George W. Bush, as well as his director of the Office of Management & Budget.
Bolten pointed to the "good fruits" of the Trump tax cuts, including a strong stock market, historically low unemployment and strong investment.
The Trump tax law failed to live up to the hype, however, with many businesses sharing the windfall with shareholders via large stock buybacks.
The debate over a fair corporate tax rate will heat up later this year, pitting Democrats against the business community.