The Senate Committee on Finance has scheduled a hearing to hear testimony on “How U.S. International Tax Policy Impacts American Workers, Jobs, and Investment.” The focus of this hearing will be on how US taxation of multinational corporations affects incentives to hire domestic US workers and invest capital in US businesses. The issues of US citizens living outside the US will likely not be mentioned at all. However, it is important that Congress ensures that policies aimed at US multinationals do not adversely impact American entrepreneurs living (and doing business) outside the US. Americans living overseas help increase goodwill towards the US and increased opportunities for US firms to market overseas. It is in the interest of the US economy for Congress to fix the problems faced by American emigrants due to the US extraterritorial policy of citizenship-based taxation. See below for how you can have your statement added to the record of this hearing.
The hearing is scheduled for Thursday, March 25, 2021, at 9:30 a.m Eastern time.
More information about the hearing is available at this link. It is our understanding that the hearing will be live streamed at the same link.
The scheduled witnesses are:
Kimberly Clausing, Ph.D.
Deputy Assistant Secretary (Tax Analysis)
United States Department of the Treasury
Washington , DC
Pam Olson
Former Assistant Secretary For Tax Policy
United States Department of the Treasury
Washington , DC
Chye-Ching Huang
Executive Director, The Tax Law Center
New York University School of Law
New York , NY
James R. Hines Jr., Ph.D.
Richard A. Musgrave Collegiate Professor Of Economics And L. Hart Wright Collegiate Professor Of Law
University of Michigan
Ann Arbor , MI
It will be possible for any individual and organization to present their views for inclusion in the hearing record. Instructions for doing this are as follows:
The statement must be in a Word document, single-spaced, and not exceeding 10 pages in length. No other file type will be accepted for inclusion. Title and date of the hearing, and the full name and address of the individual or organization must appear on the first page of the statement. Statements must be received no later than two weeks following the conclusion of the hearing.
Statements can be emailed to: Statementsfortherecord@finance.senate.gov
SEAT encourages all Americans living overseas who are able to watch the live stream to do so.
Further, SEAT encourages all Americans living overseas who would like to submit a statement to do so. We recommend that your statement be submitted by email to Statementsfortherecord@finance.senate.gov by no later than April 7, 2021 in order to be sure to meet the deadline.
SEAT is preparing and will submit its own statement. Further, within a few days after the hearing SEAT will post here a template for a statement that individual Americans living overseas can use if they would like to do so.
The requirement to submit a statement is that it must be mailed and received by the committee no later than two weeks from Thursday March 25, 2021. I live in Australia and would like to make a statement, but even if I mailed it today it would not reach the US in time to meet this deadline because the postal services in both countries have slowed their service dramatically since COVID.
Can this deadline be extended under the circumstances?
Phyllis,
Please submit your statement by email, to this address: Statementsfortherecord@finance.senate.gov
Thanks!