John McCain

The EFV was a disaster. I want to make sure that we never repeat a $3 billion mistake again.

The U.S. must make very clear to the Afghan Government, political parties and candidates, and the Afghan public that a credible election and a peaceful political transition to a legitimate successor to President Karzai is currently the top…

It must be the unwavering policy of the U.S. to support an election in April 2014 that will provide a new leadership team for Afghanistan and, most importantly, preserve the integrity and continuity of the Afghan Constitution.

You heard that the first panel of witnesses said that the IRS was not doing their job. Would you agree with that?

Again, I just am curious why it is that you would pay--even with the overseas profits, that you would still pay a higher effective tax rate than most other corporations.

Caterpillar obviously can deliver a replacement part anywhere in the world in 24 hours or less.

To this day, do you believe that there is any violation of the tax code as it was written then?

Thank you, Mr. Chairman.

So when there is something this egregious going on, it requires a congressional hearing to get the IRS to carry out their responsibilities.

So the IRS looked at this restructuring, reached a conclusion that was a failure of the IRS to gather all the sufficient information or did not hear from a whistleblower. Wouldn't that be a reason for the IRS to reopen the case?

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.

So even though there are significant profits made by your overseas operation, you still pay an overall effective tax rate of 29 percent?

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 I think the evidence shows that basically it went to pay salaries and stockholders.

And that would be sufficient incentive, you think, for them to bring that home, a 20-percent rate, roughly?

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 requirements for job creation and how that--on funds that are returned.

It is long past time to stop offshore profit shifting and to ensure that profitable U.S. multinationals meet their U.S. tax obligations.

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 growth.

So this restructuring obviously resulted in increased profits for Caterpillar, right?

They are operating today under a scheme that you view as illegal. Since when does the statute of limitations affect that?

The U.S. corporate tax rate is 35 percent, but I understand that the effective tax rate that Caterpillar paid was 29 percent.

I have spoken at length about LCS--most recently on the Senate floor just yesterday.

One of the most egregious examples of mismanagement

A first-year cadet at West Point knows that when they are winning on the battlefield, which Bashar al-Assad is, he is not going to negotiate his transition from power.

The Geneva gathering was a total and abysmal failure.