114th Congress
Meeting Status:
Scheduled
Date:
Location:
1100 Longworth House Office Building, Washington, DC 20515
Subcommittees:
Meeting Status:
Scheduled
Date:
Location:
1100 Select one, Washington, DC 20515
Subcommittees:
February 24, 2016
Here’s something we can all agree on: tax inversions are a big, big problem. Companies changing their address – on paper only – to lower the taxes they pay in the U.S. is costing us tens of billions of dollars. But instead of acting to immediately stop inversions, Republicans on the Ways and Means Committee today are holding a hearing on international tax reform. We should do tax reform. But closing this gaping loophole cannot wait.
The Stop Corporate Earnings Stripping Act of 2016, introduced by Ways and Means Committee Ranking Member Sander Levin (D-MI) and Budget Committee Ranking Member Chris Van Hollen (D-MD), is aimed at reducing the number of corporate tax inversions by limiting the use of “earnings stripping” – a common strategy used by foreign-controlled inverted corporations to lower their U.S.