Today, the House Ways and Means Committee held a hearing on the global tax environment in 2016 and implications for international tax reform. In his opening statement, Ways and Means Chairman Kevin Brady (R-TX) noted that the “hearing today is another step in our plan to bring America’s tax code into the 21st Century and protect American workers and their jobs.” In particular, Chairman Brady asked witnesses and committee members to discuss the impact of the current US tax system, “including our exorbitant corporate tax rate;” the Organization for Economic Cooperation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) project; and the “European Union’s state aid investigations that threaten to subject American businesses to retroactive taxes going back ten years.”
The witnesses were:
Professor of Accounting, MIT Sloan School of Management
Partner, Jones Day
Associate Professor of Law, Georgetown University Law Center
Edward D. Kleinbard
Professor of Law, University of Southern California Gould School of Law
The Joint Committee on Taxation report, “Present Law and Recent Global Developments Related to Cross-Border Taxation,” which was prepared for today’s hearing, can be accessed here.