We want to transition from a worldwide system, where we allow companies to defer and not pay taxes and leave trillions of dollars offshore, to a territorial system that is competitive.
Mnuchin discusses plans to reform the tax system to bring back offshore capital.
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I strongly encourage Congress to use the $455 billion in unused funds from the CARES Act to pass an additional bill with bipartisan support.
When we needed to get this done last March, it got done with overwhelming bipartisan support.
Let me be clear: That is a false choice. Americans should not have to, and did not have to, choose between quickly getting aid during a crisis and preventing the theft or waste of billions of tax dollars.