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2013

Budget Deal Shows Momentum is Building for Bipartisan Tax Reform in 2014

A series of recent articles shows that momentum for tax reform is alive and well, with senators and representatives from both sides of the aisle looking to move ahead in 2014. Their urgency is a positive sign: our tax code is broken and filled with outdated rules that penalize American businesses an…

Which Corporate Taxation for America?

By Laura Tyson, Eric Drabkin and Ken SerwinNovember 30, 2013 BERKELEY, Corporate tax reform is one of the few issues that garner bipartisan support in a deeply divided US Congress. The current system, all agree, is deeply flawed: the corporate tax rate is too high by global standards, and the corpor…

End the lockout on foreign earnings

By Douglas Holtz-EakinThe HillNovember 19, 2013 What could American companies do with $2 trillion? Invest, expand payrolls and create jobs. The only thing that stands in the way is the U.S. tax code. Currently, American companies have $2 trillion in foreign earnings trapped overseas with roughly hal…

Financial Times: Think-tank urges US to switch to 'territorial' tax system

By James Politi US companies would repatriate as much as $1.6tn or the bulk of the cash they have stashed overseas if America overhauls the treatment of international earnings in a sweeping reform of the corporate tax code, a Republican-leaning think-tank said on Tuesday. The American Action Forum l…

Modernizing Corporate Taxation

By Laura Tyson BERKELEY - How to tax the income of multinational corporations (MNCs) was an unlikely headline topic at the recent¬†G-8 summit in Ireland. It will be a key agenda item at the upcoming¬†G-20 summit in Russia¬†as well. Given these companies significance to national and global economic p…

POLITICO: Dave Camp, Max Baucus dream of a new tax code

By Anna Palmer and Jake Sherman Capitol Hill leaders might not be sold yet on rewriting the Tax Code in the next year, but two key tax-writers are trying anyway building a powerful coalition of players on K Street, in the Capitol and among President Barack Obama's trusted advisers. The two men, Rep.…

The Telegraph: Firms rush to relocate in low-tax Britain

By Kamal Ahmed & James Quinn Steve Varley, the UK chairman of Ernst & Young, revealed that the accountancy firm knew of the significant number of firms seeking to relocate from countries such as the USA, as well as from the Netherlands, Switzerland and Ireland. The high figure will be a boos…

Wall Street Journal Op-Ed: Tax Reform Is Very Much Alive and Doable

By Max Baucus and Dave Camp Every week Congress has been in session for the past two years, one of us has made the short walk across the Capitol to the other's office. We crowd into a room with our policy experts to chart a path to our mutual goal comprehensive tax reform. While we are from differen…

THE HILL: Corporations: America's had top corporate tax for one year

By Bernie Becker A corporate coalition is using a new anniversary to lobby lawmakers over the need for tax reform. Top executives from corporations in the RATE Coalition noted Monday that Japan lowered its corporate tax rate exactly a year ago a reduction that gave the U.S. the highest statutory rat…

Project Syndicate Column: Why Give Corporations a Tax Break

By Laura Tyson Berkeley - US President Barack Obama has called for additional revenue as part of a balanced plan to reduce future budget deficits. But he is also proposing a significant cut in the corporate tax rate. To many, this approach seems inconsistent: Shouldn't the corporate tax rate be rais…

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