A Senate subcommittee investigation of Apple Inc.’s offshore profit-shifting highlighted the issue of corporate taxes as lawmakers push ahead with reform efforts.
Many Democrats and Republicans agree the tax code should be overhauled to make the U.S. more competitive globally, with some breaks eliminated in order to lower the corporate rate. Key House and Senate committee chairmen want to make changes to corporate and individual tax laws, which would mark the first comprehensive reforms since the 1980s.
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