Wyden Statement on Tobacco Tax Avoidance and Evasion
Today the Finance Committee will examine a classic case of tax evasion: How dozens of companies making tobacco products dodge taxes owed under current law by changing only a few words on packaging labels. This evasion fleeces taxpayers out of billions of dollars, and it means children and teens are more easily hooked on tobacco. […]
Hatch Calls on Leadership to Consider Job-Creating Amendments to the “Bring Jobs Home Act”
WASHINGTON – In a speech on the Senate floor today, Finance Committee Ranking Member Orrin Hatch (R-Utah) called on Senate leadership to consider his pro-job amendments to S.2569, the Bring Jobs Home Act. “The stated purpose of this bill is create and protect American jobs. Republicans have amendments that would do that and more. I’ve […]
Hatch Job-Creating Amendments to S. 2569, The Bring Jobs Home Act
Four-Part Tax Amendment – Amendment 3612 Section 179 Business Expensing Permanently increases the amount of equipment, certain real property, and software that a business can expense in a year to $500,000, and indexes that amount for inflation. This expensing is phased out between $2 million to $2.5 million in purchases, and the phase-out is also […]
Wyden Hearing Statement on Keeping the Promise of Social Security
Today, the Committee takes a fresh look at Social Security Disability Insurance – a lifeline that keeps hard-working Americans afloat in the event of catastrophic illness or disability. Obviously, America’s workforce has changed dramatically since the program began, and SSDI has changed along with it. In recent decades, for example, more women have earned the […]
Hatch on the Bringing Jobs Home Act: “Economic Patriotism” Means Making America Better for Business
WASHINGTON – In a speech on the Senate floor today, Finance Committee Ranking Member Orrin Hatch (R-Utah) called on Congress to debate real reforms that make America a better place for business and job creators instead of playing election year political games. “This will be an opportunity to show whether the Senate Democratic Leadership is […]
Fake Applications for ObamaCare Tax Subsidies Show How Vulnerable Health Care Law is to Fraud & Abuse
Washington, DC – Today, Ways and Means Committee Chairman Dave Camp (R-MI), Oversight Subcommittee Chairman Charles Boustany Jr., M.D. (R-LA), Senate Finance Committee Ranking Member Orrin Hatch (R-UT) and Senate Committee on Homeland Security & Government Affairs Committee Ranking Member Tom Coburn (R-OK) released the preliminary results of a Government Accountability Office (GAO) undercover examination […]
Wyden Calls for Swift Action to End Corporate Inversions
WASHINGTON –Senate Finance Committee Chairman Ron Wyden, D-Ore., at a hearing today said the Finance Committee must take decisive action to end corporate inversions – the practice of U.S. companies moving their headquarters abroad in pursuit of lower tax rates. Wyden also said inversions represent a clear sign that the U.S. tax code needs comprehensive […]
Hatch Statement Regarding the D.C. Circuit Court of Appeals Ruling on Obamacare Federal Subsidies
WASHINGTON – U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee and a current member and former Chairman of the Senate Judiciary Committee, today issued the following statement on the D.C. Circuit Court of Appeals ruling on Halbig v. Burwell regarding the Obama administration’s authority to issue subsidies to those buying health […]
Hatch Statement at Finance Committee Hearing on International Taxation
WASHINGTON – U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, today delivered the following opening statement at a committee hearing on international taxation: I would like to thank Chairman Wyden for holding today’s hearing. I think we can all agree that addressing the shortcomings of our international tax system is a […]
Wyden Statement on Corporate Inversions and the Need for Comprehensive Tax Reform
The U.S. tax code is infected with the chronic diseases of loopholes and inefficiency. These infections are hobbling America’s drive to create more good-wage, red, white and blue jobs here at home. They are a significant drag on the economy and are harming U.S. competitiveness. The latest outbreak of this contagion is the growing wave […]