Center for Freedom and Prosperity
For Immediate Release
Tuesday, December 1, 2015
CF&P Welcomes Today’s Congressional
Hearings to Scrutinize BEPS
(Washington, D.C.,Tuesday, December 1, 2015) Two congressional hearings will scrutinize the OECD’s recent reports on Base Erosion and Profits Shifting (BEPS) and the threats posed to U.S. business and economic interests. In light of the growing lawmaker interest in the efforts of international bureaucrats to rewrite global tax laws, Center for Freedom & Prosperity (CF&P) President Andrew Quinlan offered the following statement:
“It’s better late than never. Today’s hearings represent a welcome first step toward greater congressional involvement in the ongoing efforts of the OECD to dismantle tax competition and establish a global tax cartel.
BEPS placed a target squarely on the back of American business, and the Obama administration is openly plotting to circumvent Congress in order to implement as much of the OECD’s invasive requirements as it can get away with. It is essential that Congress follow today’s hearings with swift action – such as through use of their power of the purse – to prevent that from happening.”
CF&P has been at the forefront of opposition to the BEPS project since its inception in 2013. Recently CF&P spearheaded a coalition letter featuring 22 influential free market and taxpayer advocacy organizations calling on Congress to take a greater role in the BEPS process and defend the free market principles and U.S. economic interests that the administration would not. Earlier in the year, CF&P published a research paper that placed the OECD’s efforts on BEPS in the context of its broader policy goals, and explained why they are bad for the United States.
Link to coalition letter: http://www.freedomandprosperity.org/files/OECD/ctc-BEPS-2015-07-14.pdf
Link to “Making Sense of BEPS: The Latest OECD Assault on Tax Competition:” http://freedomandprosperity.org/2015/publications/making-sense-of-beps/
The Center for Freedom & Prosperity is a Washington, DC based think-tank dedicated to promotion of tax competition, financial privacy and fiscal sovereignty.