Tax Foundation's video: U S International Tax Policies That Support Investment Innovation Senate Finance Testimony

A lot has changed in international tax rules over the last decade. Congress should explore how new rules have impacted the U.S. tax base and the investment behavior of U.S. companies. The current level of uncertainty undermines the objectives of the 2017 reforms. Policy changes that move the U.S. rules out of the fog and into longer-term stability would be welcome. The U.S. international tax system can and should be simplified. Such an achievement would require legislators to focus their efforts on designing rules that fit within the new framework and do not unnecessarily give up control of the U.S. tax base. Even in the face of a global minimum tax, Congress still has a chance to develop a strategic approach in support of U.S. investment and innovation. This video is the oral testimony of Daniel Bunn, President and CEO at the Tax Foundation, prepared for a Senate Finance Committee hearing on May 11, 2023, titled, “Cross-border Rx: Pharmaceutical Manufacturers and U.S. International Tax Policy.” Explore the full written testimony: https://taxfoundation.org/us-international-tax-policies-investment-innovation/