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Report on Offshore Tax Havens Could Hamper GOP Tax Bill

Advocacy groups cite reports mentions of Apple and Commerce Secretary Wilbur Ross.

By Lynnley Browning, Bloomberg | Updated on November 06, 2017

House Republicans should slow down their consideration of a tax-overhaul bill after investigative reports Sunday alleged offshore tax-avoidance by U.S. multinational companies including Apple Inc. and Nike Inc., congressional Democrats and tax-advocacy groups said.

But the Republican chairman of the House Ways and Means Committee indicated Sunday that the panel would stick to its plans to consider the bill this week. Representative Kevin Brady said he believes lawmakers “have a pretty good handle” on how to address the erosion to the U.S. tax base that results when corporations shift profit offshore. House leaders want to pass the bill by Thanksgiving, in roughly 2 1/2 weeks.

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