Statement
Statement on "Tax Reform and Small Businesses: Growing Our Economy and Creating Jobs"
… Finally, the TCJA represents a missed opportunity for much-needed tax reform that (1) eliminates the tax incentive for outsourcing jobs; (2) staunches the loss of U.S. corporate tax revenue through the shifting of domestic profits offshore; and … tax system that largely exempts the offshore profits of U.S. multinationals from U.S. taxation, thereby encouraging the outsourcing of production to lower-tax foreign jurisdictions. According to the Center for Budget and Policy Priorities ( CBPP … companies paying nothing in U.S. taxes on these earnings.” While supporters of the TCJA claim it reverses incentives for outsourcing, these claims have not been borne out in the case of Harley-Davidson . In September 2017, House Speaker Paul Ryan …