The October 7 U.S. vice presidential debate highlighted fundamental differences between the two parties' approaches to the economy and tax policy. In particular, vice presidential candidate Sen. Kamala D. Harris, D-Calif., criticized the Tax Cuts and Jobs Act for "benefitting the top 1 percent and the biggest corporations of America, leading to a $2 trillion deficit that American people are going to have to pay for." She also said, "The economy is about investing in the people of our country, as opposed to passing a tax bill, which had the benefit of letting American corporations go offshore to do their business."
This article briefly discusses the tax plan recently released by Democratic presidential candidate Joe Biden, with a focus on the proposed changes to the U.S. International tax system.
Avi-Yonah, Reuven S. and Gianluca Mazzoni. "Biden’s International Tax Plan." TaxNotes International 100 (2020).
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