Corporate Taxation and US MNCs: Ensuring a Competitive Economy

Gary Hufbauer and Martin Vieiro ()
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Martin Vieiro: Peterson Institute for International Economics

No PB13-9, Policy Briefs from Peterson Institute for International Economics

Abstract: The debate about "tax reform," during the 2012 presidential race and congressional budget battles this year has centered on closing loopholes, creating new incentives for growth, and raising revenue through higher personal taxation of wealthy Americans. But the debate overlooks an important priority for future US economic growth: the urgent need to reform the corporate tax. US-based multinational corporations (MNCs) are hobbled by an outmoded tax structure as they compete in the age of globalization. Reform would make American MNCs stronger competitors in markets abroad and enable them to expand and invest more at home. Tax rates should be lowered, both on profits earned in the United States and profits earned abroad.

Date: 2013-04
New Economics Papers: this item is included in nep-acc, nep-pbe and nep-pub
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