Maybe you could submit for the record the number of audits and the specific reasons for investigations by the IRS that they gave when they audited you.
Thank you, Mr. Chairman.
It is long past time to stop offshore profit shifting and to ensure that profitable U.S. multinationals meet their U.S. tax obligations.
So any reform that we make or steps we may take in order to try to repatriate some of this money, this time maybe we should have requirement...
And some years ago, we did kind of a, whatever you call it, repatriation in the hopes that it would create more jobs and boost our economy, ...
And that would be sufficient incentive, you think, for them to bring that home, a 20-percent rate, roughly?
So this restructuring obviously resulted in increased profits for Caterpillar, right?
Today, the fact is that the United State of America has the highest corporate tax rate of any country in the world.
This makes a compelling argument for broader tax reform in order to ensure our tax code is fair, competitive, and a vehicle for economic gro...
So even though there are significant profits made by your overseas operation, you still pay an overall effective tax rate of 29 percent?
The U.S. corporate tax rate is 35 percent, but I understand that the effective tax rate that Caterpillar paid was 29 percent.