The United States has an open and fair judicial system, and we should be skeptical about subjecting U.S. laws and regulations to private arbitration.
Orrin Hatch
The Public Record
Orrin Hatch was a prominent American attorney and politician who served as a United States Senator from Utah from 1977 to 2019. A member of the Republican Party, Hatch was known for his extensive work on a variety of issues, including healthcare, tax reform, and intellectual property rights. Throughout his tenure, he played a significant role in shaping legislation and was involved in numerous bipartisan efforts.
There are a number of issues I wish to speak on today, but first I wish to extend my most sincere condolences to the victims of violence in Las Vegas. What we witnessed last night was a tragedy without precedent. Today, our thoughts are…
Finally, as many of you know, I've been interested for some time in the idea of better integrating our individual and corporate tax systems.
The solution to these and other problems, to put it very simply, is to transition to a territorial-based system like virtually all of our foreign competitors.
Leveling the playing field requires addressing the relative tax advantages available to foreign-owned U.S. corporations that represent one of the most senseless aspects of our current corporate tax code.
The United States cannot stand apart from corporate tax competition in a globalized economy and is falling further behind each year.
All of these problems are key for today's hearing because they highlight the shortcoming of our outdated worldwide tax system.
Lowering the corporate income tax rate and moving to a territorial system are important to maintain U.S. prosperity and improve growth prospects for our economy.
I want to thank everyone for attending this morning. Before we begin, I just want to say something about the awfulness of this past weekend.