Making America A More Attractive Place To Hire and Invest: International Tax Reform
Despite losing jobs to foreign competitors, America is still using an outdated international tax system designed nearly 60 years ago. Yet, in recent years, virtually every one of our major competitors around the globe has been actively reforming their tax laws. Even our closest neighbors are getting ahead of us, as Canada has already reformed its tax code and Mexico is doing so right now. If we don’t take action, we risk falling further behind.
An American tax code should make it easier for American companies to bring profits earned overseas back home to the U.S. – so they can be invested here – and that is the purpose of the international tax reform draft.