Congressman Dave Camp (R-MI), Chairman of the Committee on Ways and Means, today announced that the Committee will hold a hearing on how other countries have reformed their international tax rules to enable companies headquartered in those nations to compete more effectively in the global marketplace. As part of the Committee’s ongoing consideration of how best to reform the tax code in order to help grow the U.S. economy and create good jobs for hard-working Americans, this hearing will examine the experiences of other countries in order to identify best practices in designing stable, pro-growth tax policies that would help American companies compete against their foreign counterparts. The hearing will take place on Tuesday, May 24, 2011, in Room 1100 of the Longworth House Office Building, beginning at 2:00 P.M.
In view of the limited time available to hear witnesses, oral testimony at this hearing will be from invited witnesses only. However, any individual or organization not scheduled for an oral appearance may submit a written statement for consideration by the Committee and for inclusion in the printed record of the hearing. A list of invited witnesses will follow.
At the Committee’s May 12, 2011 hearing on international tax reform, the four Chief Financial Officers (CFOs) who testified recommended that in reforming our current international tax rules, Congress should benchmark against the rules that have been put in place by our major trading partners. The CFOs cited several nations as having international tax systems that make those countries’ companies and workers more competitive in the global economy. Many countries have had their rules in place for decades, while others have recently enacted major reforms with global competitiveness in mind. Surveying the tax laws in some of those countries will provide the Committee with useful information as it continues to explore options for tax reform.
In announcing this hearing, Chairman Camp said, “Many of our major trading partners have already reformed their tax laws in ways they believe help their companies expand their global operations and in turn support good-paying jobs within their own borders. To make American employers and workers more competitive in the global market, we would be wise to examine those reforms and consider if such rules would be appropriate for the United States.
FOCUS OF THE HEARING
The hearing will examine international tax rules in various countries with an eye toward identifying best practices that might be applied to international tax reform in the United States. The hearing will explore policy choices that maximize competitiveness and job creation while also appropriately protecting the U.S. tax base.
DETAILS FOR SUBMISSION OF WRITTEN COMMENTS:
Please Note: Any person(s) and/or organization(s) wishing to submit written comments for the hearing record must follow the appropriate link on the hearing page of the Committee website and complete the informational forms. From the Committee homepage, http://waysandmeans.house.gov, select “Hearings.” Select the hearing for which you would like to submit, and click on the link entitled, “Click here to provide a submission for the record.” Once you have followed the online instructions, submit all requested information. ATTACH your submission as a Word document, in compliance with the formatting requirements listed below, by the close of business on Tuesday, June 7, 2011. Finally, please note that due to the change in House mail policy, the U.S. Capitol Police will refuse sealed-package deliveries to all House Office Buildings. For questions, or if you encounter technical problems, please call (202) 225-3625 or (202) 225-2610.
The Committee relies on electronic submissions for printing the official hearing record. As always, submissions will be included in the record according to the discretion of the Committee. The Committee will not alter the content of your submission, but we reserve the right to format it according to our guidelines. Any submission provided to the Committee by a witness, any supplementary materials submitted for the printed record, and any written comments in response to a request for written comments must conform to the guidelines listed below. Any submission or supplementary item not in compliance with these guidelines will not be printed, but will be maintained in the Committee files for review and use by the Committee.
- All submissions and supplementary materials must be provided in Word format and MUST NOT exceed a total of 10 pages, including attachments. Witnesses and submitters are advised that the Committee relies on electronic submissions for printing the official hearing record.
- Copies of whole documents submitted as exhibit material will not be accepted for printing. Instead, exhibit material should be referenced and quoted or paraphrased. All exhibit material not meeting these specifications will be maintained in the Committee files for review and use by the Committee.
- All submissions must include a list of all clients, persons and/or organizations on whose behalf the witness appears. A supplemental sheet must accompany each submission listing the name, company, address, telephone, and fax numbers of each witness.
The Committee seeks to make its facilities accessible to persons with disabilities. If you are in need of special accommodations, please call 202-225-1721 or 202-226-3411 TTD/TTY in advance of the event (four business days notice is requested). Questions with regard to special accommodation needs in general (including availability of Committee materials in alternative formats) may be directed to the Committee as noted above.
Note: All Committee advisories and news releases are available on the World Wide Web at http://www.waysandmeans.house.gov/.