Washington, D.C.Miller & Chevalier Chartered today announced the results of their 2011 Tax Policy Forecast Survey measuring the current perspectives and attitudes of leading corporate tax executives on the direction of tax policy in the coming year. The results point to an anticipated modest tax legislative agenda for 2011, despite indications that both the Administration and the Congress have an interest in pursuing fundamental tax reform.

"Expectations for significant tax legislation are low for the coming year. The business community sees the split in Congressional control, coupled with increased concern regarding the deficit and the anticipated focus on longer-term fundamental tax reform, as likely putting a significant damper on the tax legislative agenda for 2011," said Miller & Chevalier Member Marc Gerson, former Majority Tax Counsel to the U.S. House of Representatives Committee on Ways & Means.

Survey respondents are calling for a reduction in the U.S. corporate tax rate to spur global competitiveness. Thirty-one percent of respondents said that if deferral of U.S. taxation of foreign earnings was repealed, the U.S. tax rate should fall in the 20-24 percent range to spur global competitiveness, but it's notable that an equal number of respondents think the U.S. should abandon the worldwide system and adopt a territorial system.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.