Comment on International Tax Reform Framework Discussion Draft by Senate Committee on Finance Chair Ron Wyden and Senators Sherrod Brown and Mark Warner

10 Pages Posted: 7 Sep 2021

Date Written: September 6, 2021

Abstract

This comment letter addresses Senate Finance Committee Chair Ron Wyden’s International Tax Reform Framework Discussion Draft released August 25, 2021 (with Senators Brown and Warner) (the WBW Draft). The comment discusses why U.S. multinationals have competitive advantages compared to international competitors because of access to a favorable cost of capital in U.S. capital markets and other benefits of being based in the United States. Accordingly, it supports adopting the Biden Administration’s proposed international tax reforms. The comment explains why the United States should not wait for completion of the G20/OECD global minimum tax agreement. Finally, the letter makes comments directed at strengthening the WBW draft.

Keywords: International tax, tax policy

JEL Classification: H2, H3, H20, H21, H25, H26, H87, K3

Suggested Citation

Shay, Stephen E., Comment on International Tax Reform Framework Discussion Draft by Senate Committee on Finance Chair Ron Wyden and Senators Sherrod Brown and Mark Warner (September 6, 2021). Available at SSRN: https://ssrn.com/abstract=3918037 or http://dx.doi.org/10.2139/ssrn.3918037

Stephen E. Shay (Contact Author)

Boston College Law School ( email )

140 Commonwealth Avenue
Chestnut Hill, MA 02467
United States

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