Bringing the U.S. Tax System Into the 21st Century Will Stop Inversions
29th February 2016
The House Ways and Means Committee held a hearing last week on the international tax competition in 2016. Various distinguished witnesses revealed severe consequences on small businesses and community structures when a corporation moves overseas. Under the present global tax laws, American businesses are not able to compete in the global economy.
The problems with double taxation and corporate inversions are not confined solely to the federal government and large corporations- the ripple effects are seen in our neighborhoods and communities. International tax reform is being recognized as a bipartisan effort.