Our tax system should end the discrimination against US domestic companies which pay higher tax rates than foreign or multinational businesses. CPA supports sales factor apportionment which taxes businesses' global profits in proportion to their US sales.
It is a simple, territorial system that ends tax tricks like profit shifting to tax havens as well as ends tax competition among countries. American companies would not pay taxes on profits from export sales. Sales factor apportionment would eliminate all tax reasons for offshoring production. Tax-strategy-motivated subsidiaries in China, Ireland or the Bahamas would have no reason to exist.
Our domestic companies should not be taxed more than global companies with armies of accountants and lawyers who can shift profits to tax havens. Sign our petition to tell Congress that we need a Sales Factor Apportionment for a truly America First tax system!