FEDERALhearing transcript

Congressional Hearing on International Tax Reform and Global Tax Trends

Original title: THE GLOBAL TAX ENVIRONMENT IN 2016 AND IMPLICATIONS FOR INTERNATIONAL TAX REFORM

January 1, 2017

international tax reform corporate tax BEPS economic policy job creation tax compliance

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The Frame

What this does

This hearing serves as a foundational step for potential legislative changes to the U.S. corporate tax code, which could alter how American companies are taxed on global earnings and impact domestic job retention.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

American multinational corporations

These companies face potential changes to their tax liabilities, compliance requirements, and the tax treatment of their global operations.

U.S. workers

The committee links corporate tax policy to the retention of domestic jobs and the movement of corporate headquarters overseas.

What changed

Last recorded activity January 1, 2017.

What's next

Next step not available in the current record.

Summary

The House Committee on Ways and Means held a hearing to discuss how the current U.S. tax code affects American businesses' competitiveness globally. The committee examined the impact of international tax policies, including the OECD's 'Base Erosion and Profit Shifting' (BEPS) project and European Union tax investigations, on U.S. jobs and corporate investment.

Key Facts

The hearing was held on February 24, 2016, by the House Committee on Ways and Means.
The committee is evaluating the impact of the OECD's Base Erosion and Profit Shifting (BEPS) project on U.S. companies.
Chairman Brady stated that three major American employers moved their headquarters overseas in the first two months of 2016.
The committee is investigating the potential for double taxation and increased compliance costs for U.S. firms due to international tax changes.
The committee is reviewing European Union state aid investigations that may impose retroactive taxes on American businesses.
The hearing included testimony from four academic and legal experts regarding international tax reform.

Why It Matters

Frequently Asked Questions

What is the BEPS project?

BEPS stands for Base Erosion and Profit Shifting, an initiative by the OECD to address tax planning strategies used by multinational enterprises to shift profits to low-tax jurisdictions.

Why is the committee concerned about European Union investigations?

The committee is concerned that EU could result in American businesses being forced to pay retroactive taxes covering the last 10 years.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Focus on Global Tax Alignment

The hearing highlights a shift in congressional focus toward how international agreements like BEPS directly impact domestic U.S. tax policy.

House Committee on Ways and Means Organization for Economic Cooperation and Development

Connected Entities

organizationHouse Committee on Ways and Means“Congressional committee overseeing tax legislation”Map →

personEdward D. Kleinbard“Witness, Professor of Law at USC Gould School of Law”Map →

organizationOrganization for Economic Cooperation and Development“International body managing the BEPS project”Map →

personKevin Brady“Chairman of the House Committee on Ways and Means”Map →

personMichelle Hanlon“Witness, Professor of Accounting at MIT Sloan”Map →

personRaymond Wiacek“Witness, Partner at Jones Day”Map →

personItai Grinberg“Witness, Associate Professor of Law at Georgetown University”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance65
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz15
Current news / social attention level

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