Please join the Progressive Policy Institute
Getting Started on Corporate Tax Reform
December 12, 2012
8:30 – 10 a.m.
1629 Longworth House Office Building
Dr. Robert Shapiro, Co-founder and Chairman, Sonecon
Will Marshall, President, Progressive Policy Institute
The U.S. corporate tax code is urgently in need of a sweeping overhaul. For one thing, it's too high—the effective tax rate paid by U.S. firms is among the highest among advanced economies. For another, it's riddled with loopholes, special breaks and exemptions reflecting decades of skillful lobbying. These breaks not only leak revenue, but also add mind-boggling complexity to business taxation, and distort economic decision-making. The remedy is to close loopholes, and use the revenue saved to lower overall corporate tax rates.
In a new report for PPI, Rob Shapiro, co-founder and chairman of Sonecon, shows how. His analysis, which will be unveiled next Wednesday, offers an illustrative example of how to make the corporate tax code simpler, more efficient and more competitive.
Shapiro is also a senior fellow of the Georgetown University School of Business, advisor to the International Monetary Fund, director of the Globalization Center at NDN and former U.S. Under Secretary of Commerce for Economic Affairs from 1997 to 2001.