Changing the Rules
Multinational tax hikes pay for spending priorities
Congress has approved, and President Obama has signed, legislation that includes nearly $10 billion in provisions to tighten foreign tax credit rules and close perceived international tax loopholes. But in a departure from their usual practice, lawmakers are using these revenue raisers to pay for spending priorities -- not to offset the cost of tax relief. Changing the rules examines the impact of these new tax provisions on multinational taxpayers and considers how this shift in the pay-as-you-go budgeting calculus could affect revenue-raising risks for the business community going forward.