The Senate Finance Committee Holds Hearings Affecting Mini-MultiNationals AKA #AmericansAbroad

<p>March 29, 2021 - Participants include:</p> <p>Dr. Karen Alpert -<a href='http://www.twitter.com/fixthetaxtreaty'> @FixTheTaxTreaty</a></p> <p>Dr. Laura Snyder - <a href='http://www.twitter.com/tapinternation'>@TapInternation</a></p> <p>John Richardson - <a href='http://www.twitter.com/expatriationlaw'>@Expatriationlaw</a></p> <p>"Activism Is NOT A Spectator Sport!" - To learn how to make your personal submission to the Senate Finance Committee read the SEAT blog post <a href='http://seatnow.org/2021/03/29/have-your-say-tell-the-senate-finance-committee-how-international-taxation-affects-you/'>here</a>.</p> <p>_____________________________________________________________________</p> <p>On March 25, 2021 the Senate Finance Committee held one (of what I assume will be) of a number of hearings on International Taxation. Interestingly the title of the hearing was:</p> <p>"How US International Tax Policy Impacts Americans Workers Jobs And Investment"</p> <p>Interestingly and significantly the hearing did NOT discuss individual American workers, jobs or investment. The hearing was primarily focussed on the GILTI provisions found in S. 951A of the Internal Revenue Code. The hearing also discussed whether the US corporate tax rate should be increased. It's important to understand that:</p> <p>Any change in the GILTI rules and/or an increase in the US corporate tax rate will have an impact on Americans abroad generally and those Americans abroad running small businesses particularly.</p> <p>I have previously written about how an increase in the GILTI tax would impact Americans abroad <a href='http://citizenshipsolutions.ca/2020/06/29/tax-proposal-by-joebiden-has-particularly-vicious-implications-for-americansabroad/'>here</a>. I have written about how a general increase in the US corporate tax rate might impact Americans abroad <a href='http://citizenshipsolutions.ca/2020/03/15/senators-wyden-and-brown-attempt-to-reinforce-the-punishment-of-gilti-americans-abroad/'>here</a>.</p> <p>You can read about the hear