Washington, D.C.–Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) issued the following statement on the House Ways and Means Committee Republicans’ introduction of the Defending American Jobs and Investment Act:
“I support Chairman Smith and Ways and Means Republicans’ efforts to pursue measures to dissuade foreign countries from taxing U.S. companies and collecting U.S. revenue in a manner inconsistent with U.S. law and our bilateral tax treaties. If other countries proceed with implementing extraterritorial or discriminatory taxes, Congress will be forced to pursue remedial measures to protect U.S. interests. I will continue to work with my Republican colleagues on the most effective options to protect American sovereignty over our tax policies.
“To ensure those remedial measures never go into effect, I strongly encourage foreign-based companies with a U.S. presence to actively petition their foreign governments to turn off those extraterritorial and discriminatory taxes.”
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