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Prior to participating in a discussion with employees at Intel Corporation in Santa Clara, Calif., House Ways & Means Chairman Dave Camp and Senate Finance Chairman Max Baucus were given a brief tour of the Intel Museum. Among the many innovations created by this iconic company was the 386 microprocessor, a 32-bit chip that made it possible for personal computers to run more than one software application [...]
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Two recent op-eds in California papers reinforce the critical goals of corporate tax reform: Create jobs and strengthen the American economy. It doesn’t matter if you are a Democrat from Montana or a Republican from Michigan, a tech company in Boise or an entrepreneur in Austin. We all would benefit from a modern tax system that levels the global playing field so American companies can compete around [...]
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Senate Finance Committee Chairman Max Baucus and House Ways & Means Committee Chairman Dave Camp are taking their “Max & Dave” Tax Reform Tour to Silicon Valley later this month. One of the stops will be at the Intel Corporation, an ITI member and one of the U.S. economy’s innovation cornerstones. The chairmen’s visit to the Valley will give them the opportunity to hear about the significance of tax [...]
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There’s something that everyone agrees on when it comes to getting the U.S. economy back to full competitive strength: we need modern, comprehensive tax reform. Republicans, Democrats, working families, business leaders -- the broad range of the American public -- understand that our current tax system doesn’t help job creation. What’s in place now, an outdated corporate tax code last reformed in [...]
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Apple's Tim Cook is testifying in front of a Senate subcommittee on what Apple sees as a vastly simpler corporate tax structure to replace the outdated, overly complex structure that the U.S. has today. Listen to what he had to say in his opening statement. We'll have updates later this afternoon.
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The cameras were rolling in the Dirksen Senate Office Building today as Michigan Senator Carl Levin gaveled in his hearing on Apple’s tax practices. The news accounts will cover the fiery exchanges between senators (Senator Rand Paul of Kentucky, for instance, said that the hearing had one purpose, namely “to bully one of America's greatest success stories . . . If anyone should be on trial here, [...]
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Tomorrow, Apple CEO Tim Cook will put forward the tenets of a reform plan that could fix the broken, antiquated U.S. tax code. His testimony before a Senate panel will focus on shaping a competitive, market-based tax code that has a lower rate and enhances American innovation. We need to responsibly modernize our tax structure, to help American companies create jobs and new opportunities here at [...]
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We all know that it’s easy in Washington to make almost any issue political, including tax policy. However, there is a clear difference in asking legitimate, tough questions in a political atmosphere versus asking politically charged questions under the guise of legitimacy. Unfortunately we are about to see more of the latter from Michigan Senator Carl Levin when the former is what’s needed. Tomorrow, [...]
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When it comes to identifying policymakers who will champion bipartisan, constructive approaches to fix our outdated, broken tax system and help U.S. companies to innovate, compete and create jobs, don’t count Senator Carl Levin among them. For several years, Senator Levin has used his position as Chair of the Permanent Subcommittee on Investigations to conduct a campaign to embarrass American companies [...]
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There is one word that shows up consistently in President Obama’s Fiscal Year 2014 budget: innovation. We see it in the descriptions of almost every federal agency’s spending blueprint. (In fact, the word “innovation” shows up 107 times in the 244-page budget.) The investments that the president proposes in research and development (R&D), in scientific exploration, in cutting-edge education initiatives, [...]
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