Overview
Witnesses Announced for Border Adjustments Hearing: Today, the House Ways and Means Committee announced the list of witnesses testifying at its May 23 hearing, “Increasing US Competitiveness and Preventing American Jobs from Moving Overseas.” Witnesses include:
- Juan Luciano
Chairman of the Board of Directors, President and CEO, Archer Daniels Midland Company - Brian Cornell
Board Chairman and CEO, Target Corp. - William Simon
Former President and Chief Executive Officer, Walmart US - Lawrence B. Lindsey
President and Chief Executive Officer, The Lindsey Group - Kimberly Clausing
Thormund A. Miller and Walter Mintz Professor of Economics, Reed College
Supreme Court Denies Review in Retroactive Tax Cases: The US Supreme Court today declined to hear a challenge by several major corporations to the retroactive repeal of Michigan’s participation in the Multistate Tax Compact, a multistate agreement aimed at avoiding duplicative taxation among member states. The repeal allowed Michigan to retroactively alter its apportionment formula, resulting in approximately $1 billion in additional state taxes.