The last time the United States reformed its international tax laws, John F. Kennedy was president and America didn’t have much foreign competition economically. Since then, our trading partners have modernized their tax laws to reflect today’s highly competitive global marketplace, while the United States is now dramatically out of step with the realities of a 21st century economy. In fact, the U.S. now finds itself the only G8 economy that hasn’t yet modernized its international tax laws in order to attract more investment, resulting in a loss of U.S.-headquartered companies, untold investment and overall economic stature. After more than fifty years of inaction, Americans have to ask themselves, “is the U.S. falling behind by standing still on international tax reform?”
