International Tax Reform: Hearing Before the S. Comm. On Fin., 115th Cong., Oct. 3, 2017 (Statement of Itai Grinberg)

Abstract

Hearing on International Tax Reform Before the Senate Finance Committee. Lowering the corporate income tax rate and moving to a territorial system are important to maintain U.S. prosperity and improve growth prospects for our economy. The U.S. cannot stand apart from corporate tax competition in a globalized economy. To ensure that corporate income tax reform maximizes opportunity for well-paid employment for as many of our children and grandchildren as possible, the United States must also level the playing field between U.S. and foreign-headquartered MNCs. Leveling the playing field requires addressing the relative tax advantages available to foreign-owned U.S. corporations that represent one of the most senseless aspects of our current corporate tax code.