In a sign that Congress may finally be taking BEPS as seriously as it threatens American business and the global economy, two Congressional hearings are scheduled on the topic for Tuesday, December 1.
In the Senate, the Finance Committee will hold a hearing on “International Tax: OECD BEPS & EU State Aid.” Senator Hatch has been vocal about BEPS and repeatedly pressed Treasury against efforts to bypass Congress and implement the OECD’s desired policies. Individuals or organizations wishing to weigh in can follow these instructions to add a statement for the record.
On the House side, The Way & Means Subcommittee on Tax Policy, chaired by Rep. Boustany, will hold a hearing “on the OECD BEPS Project final recommendations and its effect on worldwide American companies.” Rep. Boustany has been consistently at the forefront in guarding against executive overreach on tax matters. Those seeking to submit a statement for the record may should follow these instructions.
CF&P has long called on Congress – such as through a recent coalition letter – to act in defense of U.S. interests as international tax bureaucrats circle American-owned businesses like vultures. In addition to offering a full statement on tomorrow’s hearings, CF&P President Andrew Quinlan will soon have an op-ed published explaining why it is up to Congress to act on BEPS, as well as that the hearings must be followed with additional action.
