Today the congressional Joint Committee on Taxation (JCT) released a report summarizing a number of topics related to the U.S. taxation of cross-border income.  The report has been released in advance of public hearing scheduled by the Senate Committee on Finance for March 17 titled “Building a Competitive U.S. International Tax System.”  Among the policy issues discussed in the report are the competitiveness of the U.S. tax system, the economic distortions arising from deferral, the shifting of income and business operations away from the United States, the tax incentive to locate deductions in the United States, and inversions.