I thought Congress just fixed Corporate Tax Reform?


Congress did pass a comprehensive tax bill in December 2017. To their credit, Congress recognized the tax discrimination that our American domestic corporations are facing. Domestic corporations pay the full corporate tax burden while multinational and foreign companies can shift profits to tax havens to pay less. The Tax Cut and Jobs Act modestly reduced the problem but did not eliminate it. Companies still have significant incentives to move production or profits offshore. It also added complexity instead of simplifying the system.

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