July 03,2003

Grassley Announces Hearing on Tax Policy, International Competitiveness

Grassley Announces Hearing on Tax Policy, International Competitiveness

Event: Hearing, “An Examination of U.S. Tax Policy and Its Effect on the Domestic and International Competitiveness of U.S.-Based Operations”
Date/time: Tuesday, July 8, 2003, at 10 a.m.
Location: 215 Dirksen Senate Office Building, Washington, D.C.

Description: Sen. Chuck Grassley, chairman of the Committee on Finance, recognizes that the international competitiveness of U.S. companies is under increasing pressure in anera of expanding global markets, falling trade barriers, and technological innovationsthat melt away traditional notions of national borders. Today, Grassley announces thefirst of two Finance Committee hearings to consider the present state of U.S.competitiveness at home and abroad.

There are several aspects of international competitiveness, including thecompetitiveness of U.S. operations located outside the United States, and the abilityof U.S.-based operations to match foreign competition abroad and on U.S. soil. Thishearing will examine the domestic implications of our current international tax policyon the competitiveness of U.S.-based operations and its effect on inbound investment. A later hearing will consider the competitiveness of U.S. operationslocated outside the United States.

Witnesses will be announced at a later date.