Crapo Statement at IRS Hearing
WASHINGTON – U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at a hearing entitled, “The 2021 Filing Season and 21st Century IRS.” The text of Ranking Member Crapo’s remarks, as prepared, is below. “Thank you Mr. Chairman, and thank you Commissioner Rettig for joining […]
Crapo Statement on Treasury OECD Proposal
WASHINGTON, D.C. – U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) issued the following statement regarding the Treasury Department’s new proposal for the ongoing OECD negotiations on global taxation: “The best approach for resolving tax issues surrounding the digitalization of the global economy is through a multilateral agreement at the OECD. I will not […]
Crapo, Scott File Amicus Brief in Support of State Fiscal Flexibility
WASHINGTON, D.C. – U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) joined Finance Committee member Tim Scott (R-South Carolina) in leading an amicus brief, filed by the American Center for Law and Justice, in support of Ohio’s lawsuit in Ohio v. Yellen, a lawsuit charging that the recently-passed American Jobs Act unlawfully restricts the […]
Crapo: Raising Taxes Incredibly Misguided
WASHINGTON – U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, issued the following statement in response to President Biden’s infrastructure plan and proposed tax hikes: “Raising taxes in the middle of an economic crisis is incredibly misguided,” said Ranking Member Crapo. “Prior to the pandemic, our economy was the […]
Impact of Tax Hikes on American Businesses and Workers: Fact vs. Fiction
Misleading claims continue to be made about the Tax Cuts and Jobs Act of 2017 (TCJA) to justify proposals that would raise taxes on American businesses during a global pandemic. Some of these claims are based on incomplete data, and others are patently false. As proposals are considered that would shape current and future U.S. […]
Crapo Statement at Hearing on U.S. International Tax Policy
WASHINGTON – U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at a hearing entitled, “How U.S. International Tax Policy Impacts American Workers, Jobs and Investment.” The text of Ranking Member Crapo’s remarks, as prepared, is below. “Mr. Chairman, thank you for holding this hearing […]
Crapo Urges Treasury to Give States Maximum Flexibility in Use of COVID Relief Funds
WASHINGTON, D.C. – In an exchange during a Senate Banking Committee hearing with U.S. Department of Treasury Secretary Janet Yellen, U.S. Senator Mike Crapo (R-Idaho) urged Secretary Yellen to give states the maximum flexibility as they determine how best to use funds authorized by Congress. As written, a provision in the American Rescue Plan punishes […]
Opinion: States Deserve Fiscal Flexibility
WASHINGTON, D.C. – The following op-ed by U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) appeared in The Hill. The American Rescue Plan, recently signed into law, contains a number of flaws. Many provisions appear to have been hastily drafted. Many provisions are vague and punt hard decisions to various government agencies, presumably under […]
Crapo Statement at Hearing on Forced Labor
WASHINGTON – U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at a hearing entitled, “Fighting Forced Labor: Closing Loopholes and Improving Customs Enforcement to Mandate Clean Supply Chains and Protect Workers.” The text of Ranking Member Crapo’s remarks, as prepared, is below. “Thank you, Mr. […]
Crapo: IRS Should Consider Extending Tax-Filing Deadline
WASHINGTON, D.C. – U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, issued the following statement urging the Internal Revenue Service (IRS) to consider extending the current tax-filing deadline: “There is growing bipartisan support for the IRS to extend the filing deadline. The various coronavirus relief programs created over the last […]