I am pleased to yield 3 minutes to the gentlewoman from Wyoming (Mrs. Lummis).
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The administration's response to the wave of inversions has, in my opinion, been short-sighted, focusing only on the symptoms rather than the underlying illness.
There are concerns about taxpayer confidentiality in the Master File reports.
I do not think it is necessarily going to drive U.S. researchers, and the ownership of IP, out of the U.S. overnight.
I think this is really new stuff and pretty ominous.
If you shudder, colleagues, at these tax-avoidance schemes; if you really get angry about matters like the double Irish with a Dutch sandwich; if you want to crack down on it, you have to be for comprehensive tax reform.
I just hope that we can figure out a way, on a bipartisan basis, to fix this.
Inversions like these are some of the clearest examples of base erosion and are largely motivated by tax considerations.
I thank you again for the opportunity to be here today, and I would be happy to answer any questions you may have.
Senator Schumer and I do not agree on everything, to say the least, but we did come up with an agreement on this issue.
It is paramount that Congress prevent the U.S. Treasury from unilaterally fulfilling the OECD's wish to rewrite global tax rules without democratic oversight.
The United States must not buckle under pressure to do so in the case of BEPS.
How much privacy are we going to give up in the name of security?
This is one of the most exciting parts of our economy. This is somewhere we can lead the world.
We understand that FHFA Director Watt is doing everything in his power to conserve the assets of the GSEs. However, I agree with the chairman, Mr. Hensarling, that we disagree that the CEOs of these two companies in conservatorship, whose…
I am so happy to join the chairman of the Financial Services Committee and Ms. Sinema in overwhelmingly supporting H.R. 3032. This bill, of course, will relieve the SEC from unnecessary administrative burdens and enable the already…
This bill, which Mr. Sherman and Mr. Posey have worked so diligently on, brings parity among State law, Federal bank holding company laws, and now the savings and loan holding companies. It clarifies that the FDIC's backup receivership…
We look forward to working with the Senate Finance Committee and the Subcommittee on Health in the coming months to help eliminate Medicare abuse and save the health system and taxpayers billions of dollars.