Washington, D.C. – In response to Senate Finance Committee Chairman Max Baucus’ international tax reform staff discussion draft, National Foreign Trade Council (NFTC) Vice President for Tax Policy Cathy Schultz released the following statement:
“To maximize the global competitiveness of American companies and to attract increased inbound investment, the U.S. international tax system must be reformed. The NFTC welcomes the opportunity to continue the discussion on how best to advance pro-growth, pro-jobs reform. Unfortunately, the discussion draft released by Chairman Baucus appears to move us in the opposite direction by proposing to penalize multinational companies and making it more difficult for them to compete globally.
“We are disappointed in the draft and look forward to a robust discussion with the Senate Finance Committee as the tax reform process continues.”
The NFTC has long advocated reforming U.S. international and corporate tax policies, and is a leading member of the business community’s Promote America’s Competitive Edge (PACE) Coalition.