David Thomas: “Currently, as the gentleman may know, under the U.S. Tax Code we punish U.S. corporations for being U.S. corporations.…”

“Currently, as the gentleman may know, under the U.S. Tax Code we punish U.S. corporations for being U.S. corporations. Several provisions of our Tax Code put U.S. corporations at a disadvantage versus their international competitors. These flaws in the Tax Code force U.S. companies to move their headquarters overseas in order to compete. We must reform our Tax Code to improve our international competitiveness. The Committee on Ways and Means will be addressing this larger issue in this Congress. With regard to the specific issue of dividend payments to U.S. citizens by foreign corporations, it is my intent as the legislation process proceeds to craft a solution that treats all American shareholders of either domestic or foreign-owned corporations fairly and equally, while improving the competitiveness of the U.S. Tax Code.”