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TechWonk Blog
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There鈥檚 something that everyone agrees on when it comes to getting the U.S. economy back to full competitive strength: 聽we need modern, comprehensive tax reform.聽 Republicans, Democrats, working families, business leaders -- the broad range of the American public -- understand that our current tax system doesn鈥檛 help job creation.聽 What鈥檚 in place now, an outdated corporate tax code last reformed in [...]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in front of a Senate subcommittee on what Apple sees as a vastly simpler corporate tax structure to replace the outdated, overly complex structure that the U.S. has today.聽 Listen to what he had to say in his opening statement.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鈥檚 tax practices.聽 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 鈥渢o 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.聽 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.聽 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鈥檚 easy in Washington to make almost any issue political, including tax policy.聽 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.聽 Unfortunately we are about to see more of the latter from Michigan Senator Carl Levin when the former is what鈥檚 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When it comes to identifying policymakers who will champion bipartisan, constructive approaches to fix our outdated, broken tax system and help U.S. companies to innovate, compete and create jobs, don鈥檛 count Senator Carl Levin among them.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鈥檚 Fiscal Year 2014 budget:聽 innovation.聽 We see it in the descriptions of almost every federal agency鈥檚 spending blueprint.聽 (In fact, the word 鈥渋nnovation鈥� 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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Under a beautiful blue sky in the Rose Garden this morning, President Obama laid out the three key questions that drove the priorities in his just-released Fiscal Year (FY) 2014 budget: 鈥淗ow do we make America a magnet for new jobs?聽 How do we give our workers the skills they need to do those jobs?聽 And how do we make sure that hard work leads to a decent living?鈥� Some of the key initiatives put forward [...]
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In a report that would have made Casablanca鈥檚 Captain Renault blush, this morning鈥檚 Marketplace Morning Report discovered the 鈥渟hocking鈥� news that U.S.-headquartered multinational companies keep their foreign earnings in foreign markets, and by doing so, they are able to defer any U.S. taxes on those earnings until it is invested in the U.S.聽 This isn鈥檛 new -- tax deferral been a feature of U.S. tax [...]
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The President鈥檚 nominee to be the next U.S. Secretary of the Treasury, Jack Lew, testified at the Senate Finance Committee today and faced questions from Democratic and Republican Senators on the importance of corporate tax reform to job creation.聽 (You can watch the archived hearing on the committee鈥檚 site.) Chairman Max Baucus, D-Mont., set the tone with his opening statement, underscoring that the [...]
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