Posts Tagged ‘corporate tax reform’

Rules, Reform, Taxes and Wealth: No Harm in Trying?

Maybe the duck will walk again? Lawmakers are putting down their markers on anti-inversion legislation. Top Senate Democrats Dick Durbin and Chuck Schumer have introduced a bill to curb “earnings-stripping” by multinational corporations—a practice where firms maximize U.S. tax deductions for interest payments and other business costs while shifting income to low-tax countries. Senate Finance […]

Treasury’s Lew Says Anti-Inversion Decision Will Come Soon, But Offers No Hints About What Or When

In a speech today at the Tax Policy Center, Treasury Secretary Jack Lew said the agency will decide “in the very very near future” how it will respond to the recent wave of tax-motivated corporate inversions.  Lew strongly urged Congress to curb the practice on its own, but suggested Treasury might move administratively if lawmakers […]

Could The U.S. Fix Taxation of Multinational Corporations With A Sales-Based Formula?

Corporate inversions have been the topic of the summer for tax wonks (beats jellyfish and beach traffic, I suppose), but the issue is a classic bit of Washington misdirection. Instead of focusing on the real disease—an increasingly dysfunctional corporate income tax—we are obsessing over a symptom—firms such as Burger King engaging in self-help reform by […]

How Do You Solve a Problem Like Inversions?

How do you catch a tax and pin it down? Can governments make corporations “stay and listen to all they say?” Treasury Secretary Jack Lew in his Washington Post op-ed called on Congress to immediately stop corporations from lowering taxes by incorporating overseas. Former Treasury official Steve Shay suggests the Administration doesn’t need to wait […]

A Showdown, Some Backlash and Big Bets

The Highway Trust Fund is almost out of gas. Congress leaves for its month-long recess on Friday, but without legislative action the fund will run out in August. The Senate is expected to vote on the amended bill this week, though it needs 60 votes to pass. Senate Majority Leader Harry Reid had scheduled a […]

Would a Carbon Tax and Corporate Tax Reform Taste Great Together?

Two great tastes often taste great together. Chocolate and peanut butter. Oreos and milk. Popcorn and butter. Could the same be true of carbon taxes and corporate tax reform? Done right, each could be flavorful. But would they be even tastier together? My Tax Policy Center colleague Eric Toder and I explore that question in […]

Is Corporate Tax Reform Realistic?

This morning, a panel of veteran international tax experts tried to put the U.S. struggle to fix its corporate tax system in broader perspective. Unfortunately, they concluded that the U.S. is lagging well behind the rest of the world in corporate reform and, worse, the odds of any serious progress anytime soon are slim. The […]