Ratification of Tax Treaties Will Attract Greater Global Investment
Bilateral tax treaties are ‘extremely important in promoting a competitive environment for foreign investment in the United States,’ McLernon tells Senate Committee
(Nancy McLernon’s testimony begins at 1:12:30)
WASHINGTON – Nancy McLernon, president and CEO of the Organization for International Investment (OFII), issued the following statement after testifying before the U.S. Senate Committee on Foreign Relations during a hearing on pending tax treaties and protocols with Switzerland, Luxemburg, Hungary and Chile.
“When insourcing companies invest in America, families prosper and local communities thrive. Foreign direct investment is a proven catalyst for growing innovative and high-paying jobs. Although bilateral tax treaties and protocols certainly impact home-grown companies, they are also extremely important in promoting a competitive environment for foreign investment in the United States. The Senate should quickly ratify these treaties and send a message to our negotiating partners and businesses around the world that the United States is serious about creating jobs here at home by welcoming investment from abroad.”
The full text of her testimony can be found here. To learn more about the benefits insourcing companies provide, please click here. Insourcing statistics for individual states is available here.