Chamber Questions GOP Tax Plan

Business group says Rep. Camp’s international proposal could hurt U.S.-based companies.

The U.S. Chamber of Commerce raised concerns about an international tax draft proposed by House Ways and Means Committee Chairman Dave Camp, listing several ways it says the plan could hurt U.S.-based companies.

Camp’s proposal, released Oct. 26, recommends moving to a territorial system that would exempt from taxation the overseas profits of U.S.-based companies. In concept, it is the kind of system that the Chamber and other business groups have sought.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.