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Centrists.Org - The Policy Think Tank for Centrists
This is just a sample of the content found on this website. Please visit the website to read the entire page.
"The FSC-ETI Bills Highlight the Need for Tax and Budget Reform Revised July 6, 2004 for a minor editorial clarification and June 28, 2004 to remove an implication that the Voinovich tax reform commission would also consider budget reform. (Originally published June 25, 2004)
Originally, the Foreign-Sales Corporation/Extra-Territorial Income (FSC-ETI) bill was about replacing a trade subsidy ruled improper by the World Trade Organization with a corporate tax cut. However, the bills passed in the House and Senate are a bloated legislative mess. If nothing else, the bills highlight the need for corporate tax reform, especially in the way multi-national firms are taxed on income earned around the world. A tax reform commission included as part of the Senate-passed FSC-ETI bill might help get the corporate and international tax reform process started. The legislative sausage-making process has created a worse-than-usual mess with the FSC-ETI bills. On the one hand, the bill has to pass soon -- otherwise U.S. exporters will be hit with ever-increasing tariffs. Moreover,"
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