October 13,2016

Press Contact:

Ryan Carey

Wyden Statement on Section 385 Regulations

Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) today issued the following statement on Section 385 regulations issued by the Treasury Department:

“These final rules on Section 385 clearly reflect a lot of input and careful study, and in my view they will go a long way to protecting our corporate tax base. What this does not change is the need for tax reform. For too long Congress has sat on a broken and outdated tax system, which is why the U.S. has resorted to rule changes to respond to wave after wave of tax avoidance. The answer is for Congress to reform the tax code on a bipartisan basis.”