While the U.S. Chamber of Commerce (“Chamber”) supports the Financial Accounting Standards Board (“FASB”) in its mission to develop standards of financial reporting that provide investors with material decision-useful information, we have serious concerns with the FASB project entitled “Improvements to Income Tax Disclosures.” In particular, we are concerned about the materiality of the disaggregated
information the project seeks to disclose and the role of activists in seeking to use this information to vilify firms and deter investments.